Bancolombia (NYSE:CIB) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Bancolombia (NYSE:CIB) from an equal weight rating to an overweight rating in a research note released on Tuesday, Marketbeat reports. They currently have $53.00 target price on the bank’s stock, up from their previous target price of $40.00.

Bancolombia Stock Performance

Shares of CIB opened at $39.87 on Tuesday. The stock has a market capitalization of $9.59 billion, a P/E ratio of 6.32, a P/E/G ratio of 1.87 and a beta of 1.20. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.00 and a current ratio of 1.00. Bancolombia has a 1 year low of $30.25 and a 1 year high of $40.62. The company’s fifty day moving average is $33.08 and its two-hundred day moving average is $32.64.

Bancolombia Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were paid a dividend of $0.8044 per share. This represents a $3.22 annualized dividend and a dividend yield of 8.07%. The ex-dividend date was Monday, December 30th. Bancolombia’s dividend payout ratio (DPR) is 50.71%.

Institutional Trading of Bancolombia

Large investors have recently bought and sold shares of the company. Venturi Wealth Management LLC purchased a new stake in Bancolombia in the 3rd quarter valued at approximately $27,000. Blue Trust Inc. raised its stake 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 purchasing an additional 641 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Bancolombia by 41.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank’s stock valued at $72,000 after purchasing an additional 657 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Bancolombia during the 4th quarter worth about $121,000. Finally, US Bancorp DE lifted its stake in shares of Bancolombia by 18.9% during the third quarter. US Bancorp DE now owns 5,282 shares of the bank’s stock valued at $166,000 after buying an additional 839 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.