BanColombia (NYSE:CIB) Sets New 12-Month High - Still a Buy?

Key Points

• BanColombia S.A. shares reached a new 52-week high at $53.99, last trading at $53.67, with a trading volume of 362,479 shares.
• Analysts have varying opinions on the stock, with one upgrading it to "neutral" with a new price target of $49, while Zacks downgraded it to "hold."
• The company reported strong earnings, with an EPS of $1.79 surpassing estimates, alongside a net margin of 15.30% and a return on equity of 19.77%.

BanColombia S.A. (NYSE:CIB - Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as $53.99 and last traded at $53.67, with a volume of 362479 shares traded. The stock had previously closed at $53.29.

Analyst Ratings Changes

A number of analysts have commented on CIB shares. Zacks Research cut BanColombia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Bank of America upgraded BanColombia from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $41.00 to $49.00 in a research report on Thursday, August 7th. Finally, UBS Group restated a "neutral" rating and issued a $38.00 price target (up previously from $35.00) on shares of BanColombia in a research report on Monday, June 2nd. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $43.75.

BanColombia Price Performance

The company has a debt-to-equity ratio of 0.29, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50-day moving average of $47.31 and a 200-day moving average of $43.70. The stock has a market cap of $12.91 billion, a PE ratio of 8.14, a PEG ratio of 1.07 and a beta of 0.97.

BanColombia (NYSE:CIB - Get Free Report) last released its earnings results on Thursday, August 7th. The bank reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.13. BanColombia had a return on equity of 19.77% and a net margin of 15.30%.The firm had revenue of $1.80 billion during the quarter, compared to analysts' expectations of $1.75 billion. Research analysts predict that BanColombia S.A. will post 6 EPS for the current year.

Institutional Trading of BanColombia

Several institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. grew its position in shares of BanColombia by 21.6% during the second quarter. Osaic Holdings Inc. now owns 5,200 shares of the bank's stock worth $240,000 after purchasing an additional 925 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in BanColombia by 796.3% during the second quarter. Tower Research Capital LLC TRC now owns 977 shares of the bank's stock valued at $45,000 after buying an additional 868 shares during the last quarter. Corient Private Wealth LLC bought a new position in BanColombia during the second quarter valued at approximately $205,000. Man Group plc bought a new position in BanColombia during the second quarter valued at approximately $2,224,000. Finally, Engineers Gate Manager LP boosted its stake in BanColombia by 142.3% during the second quarter. Engineers Gate Manager LP now owns 71,492 shares of the bank's stock valued at $3,302,000 after buying an additional 41,986 shares during 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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