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

Bancolombia S.A. (NYSE:CIB) shares reached a new 52-week high on Tuesday . The stock traded as high as $39.73 and last traded at $38.79, with a volume of 221229 shares. 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 stock from $40.00 to $53.00 in a research report on Tuesday.

Bancolombia Stock Performance

The stock has a 50 day moving average of $32.94 and a 200 day moving average of $32.59. 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 company has a market capitalization of $9.70 billion, a price-to-earnings ratio of 6.39, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20.

Bancolombia Cuts Dividend

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

Institutional Trading of Bancolombia

Several hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP purchased a new position in shares of Bancolombia during the third quarter valued at approximately $8,208,000. Robeco Institutional Asset Management B.V. grew its position in 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 worth $41,531,000 after purchasing an additional 150,022 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Bancolombia in the 3rd quarter worth about $2,845,000. Public Employees Retirement System of Ohio bought a new stake in Bancolombia in the 3rd quarter worth about $2,667,000. Finally, Thrivent Financial for Lutherans grew its position in Bancolombia by 671.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 62,201 shares of the bank’s stock worth $2,031,000 after purchasing an additional 54,136 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.