The Goldman Sachs Group Forecasts Strong Price Appreciation for Bancolombia (NYSE:CIB) Stock

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

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

Bancolombia Stock Performance

Shares of CIB stock opened at $43.27 on Monday. The company has a market cap of $10.40 billion, a price-to-earnings ratio of 6.87, a price-to-earnings-growth ratio of 2.47 and a beta of 1.22. The stock has a 50 day simple moving average of $36.16 and a 200-day simple moving average of $33.73. Bancolombia has a 12-month low of $30.25 and a 12-month high of $44.25. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60.

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

Institutional Trading of Bancolombia

Large investors have recently modified their holdings of the business. Venturi Wealth Management LLC acquired a new stake in shares of Bancolombia during the third quarter valued at about $27,000. Lindbrook Capital LLC grew its stake in shares of Bancolombia by 74.7% during 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. grew its stake in shares of Bancolombia by 96.5% during 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Bancolombia by 41.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank’s stock valued at $72,000 after acquiring an additional 657 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Bancolombia during the fourth quarter valued at about $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.