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Bancolombia (NYSE:CIB) Hits New 1-Year Low at $25.80

Financial News Live · Sep 26, 2022 12:42

Shares of Bancolombia S.A. (NYSE:CIB – Get Rating) reached a new 52-week low during trading on Monday . The stock traded as low as $25.80 and last traded at $25.80, with a volume of 9215 shares changing hands. The stock had previously closed at $26.83.

Analysts Set New Price Targets

CIB has been the topic of several analyst reports. Credit Suisse Group raised shares of Bancolombia from a "neutral" rating to an "outperform" rating and set a $35.00 price target on the stock in a research report on Tuesday, August 2nd. TheStreet lowered shares of Bancolombia from a "b-" rating to a "c+" rating in a research report on Wednesday, July 27th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Bancolombia has an average rating of "Moderate Buy" and an average price target of $44.00.

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Bancolombia Trading Down 6.4 %

The company has a market cap of $6.04 billion, a PE ratio of 4.31, a price-to-earnings-growth ratio of 0.23 and a beta of 1.26. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.61. The business has a 50-day simple moving average of $29.30 and a 200-day simple moving average of $35.11.

Bancolombia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Thursday, September 29th will be given a $0.7403 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 11.80%. The ex-dividend date of this dividend is Wednesday, September 28th. Bancolombia's payout ratio is 41.73%.

Institutional Trading of Bancolombia

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pinebridge Investments L.P. purchased a new stake in Bancolombia in the first quarter valued at approximately $26,000. Trustcore Financial Services LLC grew its stake in shares of Bancolombia by 135.7% in the first quarter. Trustcore Financial Services LLC now owns 660 shares of the bank's stock worth $28,000 after acquiring an additional 380 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Bancolombia by 13.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,719 shares of the bank's stock worth $117,000 after acquiring an additional 327 shares in the last quarter. Atlas Capital Advisors LLC grew its stake in shares of Bancolombia by 530.6% in the first quarter. Atlas Capital Advisors LLC now owns 3,582 shares of the bank's stock worth $153,000 after acquiring an additional 3,014 shares in the last quarter. Finally, Whittier Trust Co. acquired a new position in shares of Bancolombia in the second quarter worth $191,000. Hedge funds and other institutional investors own 2.44% of the company's stock.

Bancolombia Company Profile

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Bancolombia SA 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.