Bancolombia - CIB Stock Forecast, Price & News

Bancolombia S.A. provides banking products and services in Colombia, Panama, Puerto Rico, El Salvador, Costa Rica, 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. It offers checking and savings accounts, fixed term deposits, and investment products; trade financing, loans funded by domestic development banks, working capital loans, credit cards, personal and vehicle loans, payroll loans, and overdrafts; financial support to real estate developers and mortgages for individuals and companies; factoring; and financial and operating leasing services. The company also provides hedging instruments, including futures, forwards, options, and swaps; and brokerage, investment advisory, and private banking services, including selling and distributing equities, futures, foreign currencies, fixed income securities, mutual funds, and structured products. In addition, it offers cash management services; foreign currency transaction services; life, auto, commercial, and homeowner's insurance products; and online and computer banking services. Further, the company provides project and acquisition finance, debt and equity capital markets, principal investments, M&A, hedging strategies, restructurings, and structured financing; money market accounts, mutual and pension funds, private equity funds, payment and corporate trust, and custody; internet-based trading platform; inter-bank lending and repurchase agreements; managing escrow accounts, and investment and real estate funds; and transportation, securities brokerage, maintenance and remodeling, and outsourcing services. As of December 31, 2021, it operated 1,015 branches; 28,676 banking correspondents; 529 PAMs; 210 kiosks in El Salvador and 187 in Colombia; and 6,094 ATMs. Bancolombia S.A. was incorporated in 1945 and is headquartered in Medellín, Colombia.

Analysts Set New Price Targets

CIB has been the subject of a number of recent analyst reports. Citigroup upgraded shares of Bancolombia from a "neutral" rating to a "buy" rating in a research report on Tuesday, May 3rd. TheStreet downgraded shares of Bancolombia from a "b-" rating to a "c+" rating in a research note on Wednesday, July 27th. Finally, Credit Suisse Group raised shares of Bancolombia from a "neutral" rating to an "outperform" rating and set a $35.00 price objective for the company in a research note on Tuesday, August 2nd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.00.

Bancolombia Price Performance

Shares of CIB opened at $32.84 on Friday. The stock has a market cap of $7.90 billion, a PE ratio of 5.73, a price-to-earnings-growth ratio of 0.29 and a beta of 1.27. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.04 and a current ratio of 1.05. Bancolombia has a fifty-two week low of $26.27 and a fifty-two week high of $45.98. The firm's 50-day simple moving average is $32.26 and its two-hundred day simple moving average is $36.48.

Bancolombia (NYSE:CIB - Get Rating) last announced its quarterly earnings data on Wednesday, May 11th. The bank reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.75. The business had revenue of $1.35 billion for the quarter. Bancolombia had a net margin of 23.42% and a return on equity of 16.24%. Analysts anticipate that Bancolombia will post 6.39 earnings per share for the current fiscal year.

Bancolombia Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 11th. Investors of record on Wednesday, June 29th were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 10.05%. The ex-dividend date was Tuesday, June 28th. Bancolombia's dividend payout ratio (DPR) is currently 45.38%.