Bancolombia (NYSE:CIB) Price Target Raised to $35.00

Bancolombia (NYSE:CIB) had its price target raised by The Goldman Sachs Group from $31.00 to $35.00 in a report released on Monday,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the bank’s stock.

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

Bancolombia Stock Down 0.3 %

Shares of CIB opened at $43.27 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. Bancolombia has a 12 month low of $30.25 and a 12 month high of $44.25. The stock’s 50 day moving average is $36.16 and its two-hundred day moving average is $33.73. The firm has a market cap of $10.40 billion, a P/E ratio of 6.87, a PEG ratio of 2.47 and a beta of 1.22.

Bancolombia (NYSE:CIB) last issued its quarterly earnings results on Thursday, February 20th. The bank reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.22. Bancolombia had a return on equity of 14.61% and a net margin of 14.14%. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.41 billion. Analysts predict that Bancolombia will post 6 earnings per share for the current fiscal year.

Institutional Trading of Bancolombia

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Bancolombia by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 3,099,224 shares of the bank’s stock valued at $97,657,000 after purchasing an additional 19,499 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Bancolombia by 12.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,323,482 shares of the bank’s stock valued at $41,531,000 after purchasing an additional 150,022 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Bancolombia by 12.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 928,679 shares of the bank’s stock valued at $29,263,000 after acquiring an additional 102,015 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Bancolombia during the 4th quarter valued at approximately $24,801,000. Finally, JPMorgan Chase & Co. raised its stake in Bancolombia by 40.0% during the 4th quarter. JPMorgan Chase & Co. now owns 484,281 shares of the bank’s stock valued at $15,260,000 after acquiring an additional 138,461 shares during the last quarter.

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.