Zacks Investment Research Downgrades Bancolombia (CIB) to Hold

Zacks Investment Research downgraded shares of Bancolombia (NYSE:CIB) from a buy rating to a hold rating in a research report released on Monday.

According to Zacks, “BanColombia is Colombia’s largest bank in terms of assets and also has the largest market participation in deposit products and loans. “

A number of other brokerages also recently issued reports on CIB. ValuEngine downgraded shares of Bancolombia from a buy rating to a hold rating in a report on Friday, May 11th. UBS raised shares of Bancolombia from a sell rating to a hold rating in a report on Monday, February 12th. Standpoint Research raised shares of Bancolombia from a hold rating to an accumulate rating in a report on Wednesday, March 7th. Santander raised shares of Bancolombia from an underperform rating to a hold rating in a report on Thursday, April 19th. Finally, JPMorgan Chase set a $41.00 price target on shares of Bancolombia and gave the company a hold rating in a report on Friday, March 16th. One investment analyst has rated the stock with a sell rating and ten have assigned a hold rating to the stock. Bancolombia currently has a consensus rating of Hold and a consensus price target of $45.50.

NYSE:CIB opened at $45.25 on Monday. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.13 and a beta of 0.50. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.11 and a quick ratio of 1.11. Bancolombia has a fifty-two week low of $36.38 and a fifty-two week high of $51.38.

Bancolombia (NYSE:CIB) last released its quarterly earnings data on Wednesday, February 21st. The bank reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.41. The business had revenue of $991.09 million during the quarter. Bancolombia had a net margin of 10.76% and a return on equity of 9.54%. equities research analysts expect that Bancolombia will post 3.93 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Thursday, June 28th will be issued a $0.362 dividend. This is an increase from Bancolombia’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Wednesday, June 27th. This represents a $1.45 dividend on an annualized basis and a dividend yield of 3.20%. Bancolombia’s dividend payout ratio (DPR) is presently 40.11%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE boosted its holdings in shares of Bancolombia by 55.3% in the fourth quarter. US Bancorp DE now owns 3,835 shares of the bank’s stock worth $152,000 after buying an additional 1,366 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Bancolombia in the first quarter worth approximately $220,000. Virtu Financial LLC boosted its holdings in shares of Bancolombia by 40.6% in the fourth quarter. Virtu Financial LLC now owns 7,237 shares of the bank’s stock worth $287,000 after buying an additional 2,089 shares during the last quarter. AXA boosted its holdings in shares of Bancolombia by 21.6% in the fourth quarter. AXA now owns 9,000 shares of the bank’s stock worth $357,000 after buying an additional 1,600 shares during the last quarter. Finally, Jefferies Group LLC boosted its holdings in shares of Bancolombia by 28.8% in the fourth quarter. Jefferies Group LLC now owns 8,995 shares of the bank’s stock worth $357,000 after buying an additional 2,010 shares during the last quarter. 11.46% of the stock is currently owned by institutional investors.

Bancolombia Company Profile

Bancolombia SA provides various banking products and services to individual, corporate, and government customers throughout Colombia, Latin America, and the Caribbean region. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, Off Shore, and All Other.

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Analyst Recommendations for Bancolombia (NYSE:CIB)

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