Bancolombia (NYSE:CIB) Reaches New 12-Month High at $36.99

Bancolombia S.A. (NYSE:CIB - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $36.99 and last traded at $36.74, with a volume of 403834 shares trading hands. The stock had previously closed at $35.48.

Wall Street Analysts Forecast Growth

Separately, HSBC downgraded Bancolombia from a "buy" rating to a "hold" rating in a research report on Monday, January 8th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $30.65.

Bancolombia Stock Up 3.6 %

The business's 50 day moving average price is $32.85 and its 200-day moving average price is $29.80. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $8.83 billion, a P/E ratio of 6.02 and a beta of 1.23.

Bancolombia (NYSE:CIB - Get Free Report) last posted its earnings results on Tuesday, February 20th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.32 by $0.26. Bancolombia had a net margin of 13.51% and a return on equity of 18.46%. The company had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.68 billion. On average, analysts anticipate that Bancolombia S.A. will post 5.69 earnings per share for the current fiscal year.

Bancolombia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Monday, April 1st will be given a $0.8118 dividend. This represents a $3.25 annualized dividend and a yield of 8.84%. The ex-dividend date of this dividend is Thursday, March 28th. Bancolombia's dividend payout ratio (DPR) is presently 59.84%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Bancolombia by 25.1% during the 1st quarter. BlackRock Inc. now owns 2,227,183 shares of the bank's stock worth $95,011,000 after acquiring an additional 446,778 shares during the period. JPMorgan Chase & Co. grew its holdings in Bancolombia by 3,230.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 354,579 shares of the bank's stock worth $9,460,000 after acquiring an additional 343,933 shares during the period. Earnest Partners LLC grew its holdings in Bancolombia by 14.2% during the 3rd quarter. Earnest Partners LLC now owns 2,515,052 shares of the bank's stock worth $67,102,000 after acquiring an additional 312,502 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in Bancolombia by 447.3% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 222,222 shares of the bank's stock worth $5,929,000 after acquiring an additional 181,615 shares during the period. Finally, Boston Common Asset Management LLC grew its holdings in shares of Bancolombia by 260.8% in the 1st quarter. Boston Common Asset Management LLC now owns 235,283 shares of the bank's stock valued at $5,913,000 after buying an additional 170,074 shares during the period.

About Bancolombia

Bancolombia SA provides banking products and services in Colombia, Panama, Puerto Rico, El Salvador, Bermuda, and Guatemala. 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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