Bancolombia (NYSE:CIB) Reaches New 1-Year High - Should You Buy?

Bancolombia S.A. (NYSE:CIB - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $39.73 and last traded at $38.79, with a volume of 221229 shares. The stock had previously closed at $36.88.

Wall Street Analyst Weigh In

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

Bancolombia Stock Down 0.6 %

The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of 6.28, a PEG ratio of 2.29 and a beta of 1.20. The firm has a 50-day moving average of $33.08 and a 200 day moving average of $32.64. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.00 and a quick ratio of 1.00.

Bancolombia Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were issued a dividend of $0.8044 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $3.22 dividend on an annualized basis and a yield of 8.12%. Bancolombia's payout ratio is 50.71%.

Institutional Trading of Bancolombia

Large investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC bought a new stake in shares of Bancolombia in the 3rd quarter valued at about $27,000. Blue Trust Inc. raised its stake in 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 buying an additional 641 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Bancolombia by 41.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank's stock valued at $72,000 after buying an additional 657 shares during the period. R Squared Ltd acquired a new stake in Bancolombia during the 4th quarter valued at $121,000. Finally, US Bancorp DE boosted its holdings in shares of Bancolombia by 18.9% during the 3rd quarter. US Bancorp DE now owns 5,282 shares of the bank's stock worth $166,000 after buying an additional 839 shares during the period.

About Bancolombia

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.