Bancolombia (NYSE:CIB) Hits New 52-Week High - What's Next?

Bancolombia S.A. (NYSE:CIB - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The company traded as high as $41.55 and last traded at $41.49, with a volume of 344373 shares changing hands. The stock had previously closed at $41.09.

Analyst Upgrades and Downgrades

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

Bancolombia Price Performance

The company has a 50 day moving average price of $35.50 and a 200 day moving average price of $33.46. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.34. The firm has a market cap of $10.29 billion, a PE ratio of 6.78, a price-to-earnings-growth ratio of 2.36 and a beta of 1.22.

Bancolombia (NYSE:CIB - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The bank reported $1.57 EPS for the quarter, topping the consensus estimate of $1.35 by $0.22. Bancolombia had a net margin of 13.46% and a return on equity of 14.75%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.41 billion. On average, sell-side analysts expect that Bancolombia S.A. will post 6.22 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CIB. Wellington Management Group LLP purchased a new stake in Bancolombia in the 3rd quarter valued at approximately $8,208,000. XTX Topco Ltd purchased a new stake in shares of Bancolombia in the third quarter valued at $385,000. Centiva Capital LP purchased a new stake in shares of Bancolombia in the third quarter valued at $288,000. Point72 Asset Management L.P. boosted 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 acquiring an additional 15,800 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Bancolombia by 96.5% during the 3rd quarter. Blue Trust Inc. now owns 1,305 shares of the bank's stock worth $43,000 after purchasing an additional 641 shares in the last quarter.

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.