Deutsche Bank AG lowered shares of BanColombia S.A. (NYSE:CIB) from a buy rating to a hold rating in a research report released on Friday, October 27th, MarketBeat Ratings reports. They currently have $45.00 price objective on the bank’s stock, down from their prior price objective of $52.00.
A number of other equities research analysts have also recently weighed in on the company. BidaskClub upgraded BanColombia from a buy rating to a strong-buy rating in a research note on Saturday, July 1st. Zacks Investment Research upgraded BanColombia from a hold rating to a buy rating and set a $51.00 price target for the company in a research note on Friday, September 1st. J P Morgan Chase & Co lowered BanColombia from a neutral rating to an underweight rating and set a $41.00 price objective on the stock. in a report on Wednesday, October 4th. Finally, Santander lowered BanColombia from a hold rating to an underperform rating in a report on Wednesday, September 20th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. BanColombia currently has a consensus rating of Hold and a consensus target price of $46.00.
BanColombia (CIB) traded down $0.21 during mid-day trading on Friday, reaching $38.63. The company had a trading volume of 262,600 shares, compared to its average volume of 369,348. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.11. BanColombia has a 12-month low of $31.98 and a 12-month high of $48.74. The stock has a market capitalization of $9,150.00, a PE ratio of 9.76, a price-to-earnings-growth ratio of 1.69 and a beta of 0.34.
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The firm also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Thursday, September 28th were given a dividend of $0.3278 per share. The ex-dividend date of this dividend was Wednesday, September 27th. This is an increase from BanColombia’s previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a yield of 3.39%. BanColombia’s dividend payout ratio is 33.33%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. lifted its position in BanColombia by 1.6% during the second quarter. Advisor Group Inc. now owns 3,227 shares of the bank’s stock worth $144,000 after buying an additional 52 shares during the period. Pinebridge Investments L.P. purchased a new position in shares of BanColombia in the 2nd quarter worth about $223,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of BanColombia by 5.8% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 5,021 shares of the bank’s stock worth $200,000 after purchasing an additional 275 shares during the period. First Trust Advisors LP purchased a new position in shares of BanColombia in the 3rd quarter worth about $230,000. Finally, High Pointe Capital Management LLC purchased a new position in shares of BanColombia in the 2nd quarter worth about $228,000. Hedge funds and other institutional investors own 14.88% of the company’s stock.
BanColombia Company Profile
Bancolombia SA (Bancolombia) is a financial institution engaged in providing a range of financial products and services to a diversified individual, corporate, and government customer base throughout Colombia, Latin America and the Caribbean region. The Bank operates through 10 segments: Banking Colombia, Banking Panama, Banking El Salvador, Leasing, Trust, Investment Banking, Brokerage, Off Shore and All other.
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