Bancolombia (NYSE:CIB) Sets New 12-Month High – What’s Next?

Bancolombia S.A. (NYSE:CIB) reached a new 52-week high during trading on Tuesday . The stock traded as high as $39.73 and last traded at $38.79, with a volume of 221229 shares changing hands. The stock had previously closed at $36.88.

Wall Street Analyst Weigh In

Separately, Morgan Stanley raised shares of Bancolombia from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $53.00 in a report on Tuesday.

Bancolombia Trading Up 4.3 %

The firm’s 50 day moving average is $32.94 and its 200 day moving average is $32.59. The company has a market cap of $9.70 billion, a PE ratio of 6.39, a PEG ratio of 1.87 and a beta of 1.20. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.00 and a quick ratio of 1.00.

Bancolombia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were paid a dividend of $0.8044 per share. The ex-dividend date was Monday, December 30th. This represents a $3.22 annualized dividend and a yield of 7.98%. Bancolombia’s dividend payout ratio is currently 50.71%.

Hedge Funds Weigh In On Bancolombia

Institutional investors have recently modified their holdings of the company. Venturi Wealth Management LLC purchased a new position in shares of Bancolombia during the third quarter worth approximately $27,000. Blue Trust Inc. grew its stake in shares of Bancolombia by 96.5% during the third quarter. Blue Trust Inc. now owns 1,305 shares of the bank’s stock valued at $43,000 after buying an additional 641 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Bancolombia by 41.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank’s stock worth $72,000 after buying an additional 657 shares during the period. R Squared Ltd purchased a new stake in shares of Bancolombia during the fourth quarter valued at approximately $121,000. Finally, US Bancorp DE raised its holdings in shares of Bancolombia by 18.9% during the third quarter. US Bancorp DE now owns 5,282 shares of the bank’s stock valued at $166,000 after acquiring an additional 839 shares in 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.