Bancolombia (NYSE:CIB) Sets New 12-Month High After Strong Earnings

Bancolombia S.A. (NYSE:CIB)’s share price reached a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $41.55 and last traded at $41.49, with a volume of 344373 shares. The stock had previously closed at $41.09.

The bank reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.22. Bancolombia had a return on equity of 14.75% and a net margin of 13.46%. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.41 billion.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Bancolombia

A number of institutional investors have recently made changes to their positions in CIB. Venturi Wealth Management LLC bought a new position in shares of Bancolombia during the third quarter worth approximately $27,000. Lindbrook Capital LLC grew its holdings in 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 buying an additional 414 shares in the last quarter. Blue Trust Inc. grew its holdings in Bancolombia by 96.5% in the 3rd quarter. Blue Trust Inc. now owns 1,305 shares of the bank’s stock valued at $43,000 after buying an additional 641 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Bancolombia by 41.3% during the 4th 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. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Bancolombia during the fourth quarter worth $89,000.

Bancolombia Stock Performance

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.00 and a quick ratio of 1.00. The stock’s 50-day moving average price is $35.50 and its 200-day moving average price is $33.46. The company has a market cap of $10.29 billion, a P/E ratio of 6.78, a PEG ratio of 2.36 and a beta of 1.22.

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.