Bancolombia (NYSE:CIB) Sets New 1-Year High - Time to Buy?

Bancolombia S.A. (NYSE:CIB - Get Free Report)'s share price reached a new 52-week high on Wednesday . The stock traded as high as $44.31 and last traded at $44.31, with a volume of 25502 shares. The stock had previously closed at $43.88.

Analysts Set New Price Targets

CIB has been the subject of several analyst reports. Morgan Stanley raised 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 research note on Tuesday, January 28th. The Goldman Sachs Group increased their target price on Bancolombia from $31.00 to $35.00 and gave the stock a "sell" rating in a research report on Monday, February 24th.

Bancolombia Price Performance

The firm has a market cap of $10.52 billion, a price-to-earnings ratio of 6.95, a price-to-earnings-growth ratio of 2.47 and a beta of 1.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.05 and a quick ratio of 1.00. The stock's fifty day moving average price is $40.66 and its 200-day moving average price is $35.17.

Bancolombia (NYSE:CIB - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The bank reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.22. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.41 billion. Bancolombia had a return on equity of 14.61% and a net margin of 14.14%. Equities research analysts predict that Bancolombia S.A. will post 6 EPS for the current fiscal year.

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Bancolombia Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be given a $3.8119 dividend. This is an increase from Bancolombia's previous quarterly dividend of $0.80. The ex-dividend date is Monday, March 31st. This represents a $15.25 annualized dividend and a yield of 34.84%. Bancolombia's payout ratio is presently 241.90%.

Hedge Funds Weigh In On Bancolombia

A number of institutional investors have recently modified their holdings of the stock. Dodge & Cox lifted its holdings in Bancolombia by 2.7% in the fourth quarter. Dodge & Cox now owns 11,300 shares of the bank's stock valued at $356,000 after buying an additional 300 shares during the period. US Bancorp DE boosted its stake in Bancolombia by 5.9% in the 4th quarter. US Bancorp DE now owns 5,594 shares of the bank's stock worth $176,000 after purchasing an additional 312 shares during the period. Lindbrook Capital LLC increased its position in shares of Bancolombia by 74.7% in the fourth quarter. Lindbrook Capital LLC now owns 968 shares of the bank's stock valued at $31,000 after acquiring an additional 414 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Bancolombia by 41.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank's stock worth $72,000 after purchasing an additional 657 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC lifted its stake in Bancolombia by 7.5% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 9,628 shares of the bank's stock valued at $303,000 after acquiring an additional 668 shares during 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.