Bancolombia S.A. (NYSE:CIB) shares traded 4.04% higher at $23.16 on Wall Street last session.
In accordance with the data, 7 analysts cover Bancolombia S.A. (NYSE:CIB). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $41.00 and a low of $27.04, we find $33.00. Given the previous closing price of $22.26, this indicates a potential upside of 48.25 percent. CIB stock price is now -16.76% away from the 50-day moving average and -19.48% away from the 200-day moving average. The market capitalization of the company currently stands at $6.29B.
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It has been rated a hold by 4 analysts and a buy by 3. Brokers who have rated the stock have averaged $33.29 as their price target over the next twelve months.
With the price target reduced from $29 to $27, UBS Upgraded its rating from Sell to Neutral for Bancolombia S.A. (NYSE: CIB). On August 02, 2022, Credit Suisse Upgraded its previous ‘Neutral’ rating to ‘Outperform’ on the stock keeping its target price maintained at $35, while ‘JP Morgan’ rates the stock as ‘Neutral’.
A total of 42.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CIB stock. A new stake in Bancolombia S.A. shares was purchased by ROBECO INSTITUTIONAL ASSET MANAGEMENT B.V. during the first quarter worth $17,369,000. ITAU UNIBANCO HOLDING S.A. invested $8,286,000 in shares of CIB during the first quarter. In the first quarter, SCHRODER INVESTMENT MANAGEMENT GROUP acquired a new stake in Bancolombia S.A. valued at approximately $7,012,000. ALGEBRIS (UK) LTD acquired a new stake in CIB for approximately $3,464,000. M&G INVESTMENT MANAGEMENT LTD purchased a new stake in CIB valued at around $2,892,000 in the second quarter. In total, there are 216 active investors with 26.90% ownership of the company’s stock.
Bancolombia S.A. (NYSE: CIB) opened at $22.12 on Thursday. During the past 12 months, Bancolombia S.A. has had a low of $21.87 and a high of $45.98. The fifty day moving average price for CIB is $27.82 and a two-hundred day moving average price translates $28.76 for the stock.
The latest earnings results from Bancolombia S.A. (NYSE: CIB) was released for Sep, 2022. According to the Banks – Regional Company, earnings per share came in at $1.78, beating analysts’ expectations of $1.39 by 0.39. This compares to $$282,786 EPS in the same period last year. The net profit margin was 29.10% and return on equity was 19.90% for CIB. The company reported revenue of $1.47 billion for the quarter, compared to $1.19 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 23.59 percent. For the current quarter, analysts expect CIB to generate $1.32B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/19/2023. Investors who held shares on 12/30/2022 were paid a $0.654499 dividend. On an annualized basis, this represents a $2.53 dividend and a 10.93% percent yield. There was an ex-dividend date of 12/29/2022 for this dividend.
Bancolombia S.A.(CIB) Company Profile
Bancolombia S.A. provides banking products and services in Colombia, Panama, Puerto Rico, El Salvador, Costa Rica, and Guatemala. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other. It offers checking and savings accounts, fixed term deposits, and investment products; trade financing, loans funded by domestic development banks, working capital loans, credit cards, personal and vehicle loans, payroll loans, and overdrafts; financial support to real estate developers and mortgages for individuals and companies; factoring; and financial and operating leasing services. The company also provides hedging instruments, including futures, forwards, options, and swaps; and brokerage, investment advisory, and private banking services, including selling and distributing equities, futures, foreign currencies, fixed income securities, mutual funds, and structured products. In addition, it offers cash management services; foreign currency transaction services; life, auto, commercial, and homeowner’s insurance products; and online and computer banking services. Further, the company provides project and acquisition finance, debt and equity capital markets, principal investments, M&A, hedging strategies, restructurings, and structured financing; money market accounts, mutual and pension funds, private equity funds, payment and corporate trust, and custody; internet-based trading platform; inter-bank lending and repurchase agreements; managing escrow accounts, and investment and real estate funds; and transportation, securities brokerage, maintenance and remodeling, and outsourcing services. As of December 31, 2021, it operated 1,015 branches; 28,676 banking correspondents; 529 PAMs; 210 kiosks in El Salvador and 187 in Colombia; and 6,094 ATMs. Bancolombia S.A. was incorporated in 1945 and is headquartered in Medellín, Colombia.
