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

Bancolombia (NYSE:CIB) had its target price lifted by The Goldman Sachs Group from $31.00 to $35.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a sell rating on the bank’s stock.

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

Bancolombia Stock Performance

Shares of NYSE:CIB opened at $43.13 on Monday. Bancolombia has a twelve month low of $30.25 and a twelve month high of $44.25. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.05. The business has a fifty day moving average of $35.71 and a 200-day moving average of $33.58. The firm has a market cap of $10.37 billion, a PE ratio of 6.85, a price-to-earnings-growth ratio of 2.47 and a beta of 1.22.

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

Hedge Funds Weigh In On Bancolombia

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC bought a new position in Bancolombia during the third quarter worth $27,000. Lindbrook Capital LLC grew its holdings in shares of Bancolombia by 74.7% in the fourth 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. Blue Trust Inc. increased its position in shares of Bancolombia by 96.5% during the 3rd quarter. Blue Trust Inc. now owns 1,305 shares of the bank’s stock valued at $43,000 after purchasing an additional 641 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Bancolombia by 41.3% during the fourth 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 last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Bancolombia during the 4th quarter worth approximately $89,000.

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.