BanColombia (NYSE:CIB) Reaches New 52-Week High - Still a Buy?

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

Analyst Ratings Changes

CIB has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted their price target on shares of BanColombia from $31.00 to $35.00 and gave the company a "sell" rating in a research note on Monday, February 24th. UBS Group reiterated a "neutral" rating and issued a $38.00 target price (up previously from $35.00) on shares of BanColombia in a research report on Monday, June 2nd. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $39.00.

BanColombia Stock Performance

The stock's 50-day simple moving average is $41.67 and its 200 day simple moving average is $39.11. The company has a market capitalization of $10.81 billion, a PE ratio of 7.21, a P/E/G ratio of 0.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00.

BanColombia Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, May 9th. Stockholders of record on Tuesday, April 29th were issued a $0.5745 dividend. This represents a dividend yield of 17.13%. This is a boost from BanColombia's previous dividend of $0.30. The ex-dividend date of this dividend was Monday, April 28th. BanColombia's dividend payout ratio is presently 104.97%.

Hedge Funds Weigh In On BanColombia

A number of large investors have recently bought and sold shares of the company. Lindbrook Capital LLC grew its holdings in BanColombia by 74.7% during the fourth quarter. Lindbrook Capital LLC now owns 968 shares of the bank's stock worth $31,000 after acquiring an additional 414 shares during the period. SVB Wealth LLC purchased a new position in shares of BanColombia in the 1st quarter valued at about $45,000. SBI Securities Co. Ltd. purchased a new position in shares of BanColombia in the 4th quarter valued at about $89,000. Aberdeen Group plc acquired a new stake in shares of BanColombia in the first quarter valued at about $201,000. Finally, Whipplewood Advisors LLC boosted its holdings in BanColombia by 4,800.9% during the first quarter. Whipplewood Advisors LLC now owns 5,195 shares of the bank's stock worth $209,000 after buying an additional 5,089 shares in the last quarter.

BanColombia Company Profile

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.

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