Bancolombia (NYSE:CIB) Hits New 12-Month High - Should You Buy?

Shares of Bancolombia S.A. (NYSE:CIB - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $40.95 and last traded at $40.56, with a volume of 39561 shares changing hands. The stock had previously closed at $40.32.

Wall Street Analyst Weigh In

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

Bancolombia Trading Up 1.1 %

The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.34. The business has a 50-day simple moving average of $34.78 and a 200-day simple moving average of $33.18. The company has a market cap of $9.89 billion, a PE ratio of 6.52, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22.

Institutional Investors Weigh In On Bancolombia

Several institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP acquired a new stake in Bancolombia during the 3rd quarter worth approximately $8,208,000. XTX Topco Ltd acquired a new stake in shares of Bancolombia in the third quarter valued at $385,000. Centiva Capital LP purchased a new position in Bancolombia in the third quarter valued at $288,000. Point72 Asset Management L.P. grew its stake in Bancolombia by 3,160.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 16,300 shares of the bank's stock worth $511,000 after purchasing an additional 15,800 shares in the last quarter. Finally, Blue Trust Inc. grew its stake 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.