Bancolombia (NYSE:CIB) Given New $35.00 Price Target at The Goldman Sachs Group

Bancolombia (NYSE:CIB) had its target price lifted by investment analysts at The Goldman Sachs Group from $31.00 to $35.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “sell” rating on the bank’s stock. The Goldman Sachs Group’s price target suggests a potential downside of 18.58% from the stock’s current price.

Separately, Morgan Stanley upgraded shares of Bancolombia from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $40.00 to $53.00 in a research report on Tuesday, January 28th.

Bancolombia Stock Up 0.5 %

CIB stock traded up $0.20 during trading on Monday, hitting $42.99. 68,614 shares of the stock traded hands, compared to its average volume of 423,344. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.05 and a quick ratio of 1.00. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of 6.82, a price-to-earnings-growth ratio of 2.47 and a beta of 1.22. Bancolombia has a 1 year low of $30.25 and a 1 year high of $44.25. The firm’s 50 day moving average is $35.50 and its two-hundred day moving average is $33.49.

Bancolombia (NYSE:CIB) last posted its quarterly earnings results on Thursday, February 20th. The bank reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.22. Bancolombia had a return on equity of 14.61% and a net margin of 14.14%. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.41 billion. On average, sell-side analysts anticipate that Bancolombia will post 6 EPS for the current year.

Hedge Funds Weigh In On Bancolombia

Several large investors have recently added to or reduced their stakes in the company. Dodge & Cox increased its holdings in shares of 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 during the last quarter. US Bancorp DE raised its holdings in Bancolombia by 5.9% during the 4th quarter. US Bancorp DE now owns 5,594 shares of the bank’s stock valued at $176,000 after buying an additional 312 shares during the period. Lindbrook Capital LLC boosted its stake in Bancolombia by 74.7% during the fourth quarter. Lindbrook Capital LLC now owns 968 shares of the bank’s stock worth $31,000 after buying an additional 414 shares during the period. Measured Wealth Private Client Group LLC increased its position in Bancolombia by 6.4% during the third quarter. Measured Wealth Private Client Group LLC now owns 7,800 shares of the bank’s stock valued at $245,000 after acquiring an additional 471 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Bancolombia by 96.5% in the third quarter. Blue Trust Inc. now owns 1,305 shares of the bank’s stock valued at $43,000 after acquiring an additional 641 shares during the period.

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.