BanColombia (NYSE:CIB) Reaches New 12-Month High - Here's Why

BanColombia S.A. (NYSE:CIB - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $45.10 and last traded at $45.11, with a volume of 480475 shares changing hands. The stock had previously closed at $42.62.

Wall Street Analysts Forecast Growth

Separately, UBS Group reaffirmed a "neutral" rating and issued a $38.00 target price (up from $35.00) on shares of BanColombia in a research note on Monday, June 2nd. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $39.00.

BanColombia Stock Down 0.4%

The firm has a fifty day simple moving average of $42.02 and a 200 day simple moving average of $39.28. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $10.86 billion, a PE ratio of 7.24, a PEG ratio of 1.01 and a beta of 0.91.

BanColombia Increases Dividend

The company also recently announced a dividend, which was paid on Friday, May 9th. Investors of record on Tuesday, April 29th were given a $0.5745 dividend. This is a positive change from BanColombia's previous dividend of $0.30. This represents a dividend yield of 17.13%. The ex-dividend date of this dividend was Monday, April 28th. BanColombia's dividend payout ratio (DPR) is 104.97%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CIB. Itau Unibanco Holding S.A. acquired a new stake in BanColombia during the fourth quarter worth about $24,801,000. Truffle Hound Capital LLC acquired a new stake in BanColombia during the 4th quarter worth approximately $11,028,000. RWC Asset Management LLP purchased a new position in BanColombia in the first quarter valued at approximately $12,536,000. GQG Partners LLC purchased a new position in BanColombia in the fourth quarter valued at approximately $9,724,000. Finally, Millennium Management LLC lifted its position in BanColombia by 527.0% during the first quarter. Millennium Management LLC now owns 316,877 shares of the bank's stock valued at $12,738,000 after buying an additional 266,341 shares in the last quarter.

About BanColombia

Bancolombia SA, together with its subsidiaries, provides banking products and services in Colombia and internationally. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.