The Goldman Sachs Group Issues Positive Forecast for Bancolombia (NYSE:CIB) Stock Price

Bancolombia (NYSE:CIB - Free Report) had its price objective lifted by The Goldman Sachs Group from $31.00 to $35.00 in a research note released on Monday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the bank's stock.

Separately, Morgan Stanley raised shares of Bancolombia from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $40.00 to $53.00 in a research report on Tuesday, January 28th.

Bancolombia Trading Down 3.6 %

NYSE:CIB traded down $1.55 during trading hours on Monday, reaching $41.71. 550,125 shares of the stock were exchanged, compared to its average volume of 431,842. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of 6.62, a PEG ratio of 2.47 and a beta of 1.22. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average of $36.36 and a two-hundred day moving average of $33.78. Bancolombia has a twelve month low of $30.25 and a twelve month high of $44.25.

Bancolombia (NYSE:CIB - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.22. Bancolombia had a return on equity of 14.61% and a net margin of 14.14%. The business had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.41 billion. On average, equities analysts predict that Bancolombia will post 6 EPS for the current year.

Institutional Trading of Bancolombia

Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP purchased a new position in Bancolombia during the third quarter worth about $8,208,000. XTX Topco Ltd purchased a new stake in shares of Bancolombia during the 3rd quarter valued at about $385,000. Centiva Capital LP acquired a new stake in Bancolombia in the third quarter valued at approximately $288,000. Point72 Asset Management L.P. raised its stake in shares of Bancolombia by 3,160.0% during the third quarter. Point72 Asset Management L.P. now owns 16,300 shares of the bank's stock valued at $511,000 after purchasing an additional 15,800 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Bancolombia by 96.5% in the third quarter. Blue Trust Inc. now owns 1,305 shares of the bank's stock valued at $43,000 after purchasing an additional 641 shares during the period.

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.