Bancolombia (NYSE:CIB) Hits New 12-Month High – Still a Buy?

Shares of Bancolombia S.A. (NYSE:CIB) reached a new 52-week high during trading on Friday . The stock traded as high as $40.95 and last traded at $40.56, with a volume of 39561 shares traded. The stock had previously closed at $40.32.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley upgraded 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 research note on Tuesday, January 28th.

Bancolombia Stock Performance

The firm has a 50-day simple moving average of $34.62 and a two-hundred day simple moving average of $33.13. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $9.80 billion, a price-to-earnings ratio of 6.46, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22.

Bancolombia Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were given a $0.8044 dividend. This represents a $3.22 annualized dividend and a yield of 7.90%. The ex-dividend date was Monday, December 30th. Bancolombia’s dividend payout ratio is 50.71%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dodge & Cox boosted its holdings in Bancolombia by 2.7% in the fourth quarter. Dodge & Cox now owns 11,300 shares of the bank’s stock worth $356,000 after purchasing an additional 300 shares in the last quarter. US Bancorp DE boosted its stake in shares of Bancolombia by 5.9% during the 4th quarter. US Bancorp DE now owns 5,594 shares of the bank’s stock worth $176,000 after acquiring an additional 312 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of Bancolombia by 74.7% in the 4th quarter. Lindbrook Capital LLC now owns 968 shares of the bank’s stock valued at $31,000 after acquiring an additional 414 shares in the last quarter. Measured Wealth Private Client Group LLC lifted its holdings in Bancolombia by 6.4% in the 3rd quarter. Measured Wealth Private Client Group LLC now owns 7,800 shares of the bank’s stock worth $245,000 after purchasing an additional 471 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Bancolombia by 96.5% during the third quarter. Blue Trust Inc. now owns 1,305 shares of the bank’s stock worth $43,000 after purchasing an additional 641 shares during the period.

Bancolombia Company Profile

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.