J P Morgan Chase & Co lowered shares of BanColombia S.A. (NYSE:CIB) from a neutral rating to an underweight rating in a research note issued to investors on Wednesday morning. The firm currently has $41.00 price objective on the bank’s stock.
A number of other research firms also recently issued reports on CIB. Zacks Investment Research raised shares of BanColombia from a hold rating to a buy rating and set a $49.00 price target on the stock in a research note on Tuesday, August 15th. HSBC Holdings plc cut shares of BanColombia from a buy rating to a hold rating in a report on Tuesday, August 15th. Santander cut shares of BanColombia from a hold rating to an underperform rating in a report on Wednesday, September 20th. Finally, BidaskClub upgraded shares of BanColombia from a buy rating to a strong-buy rating in a report on Saturday, July 1st. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $46.33.
BanColombia (NYSE CIB) traded up 0.37% during mid-day trading on Wednesday, hitting $45.86. 261,535 shares of the stock traded hands. The company’s 50 day moving average is $46.06 and its 200 day moving average is $43.54. BanColombia has a 12 month low of $31.98 and a 12 month high of $48.74. The company has a market cap of $11.03 billion, a P/E ratio of 10.83 and a beta of 0.32.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Thursday, September 28th will be paid a dividend of $0.3278 per share. This is a boost from BanColombia’s previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, September 27th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 2.86%. BanColombia’s dividend payout ratio (DPR) is presently 29.31%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Harding Loevner LP boosted its stake in BanColombia by 1.5% during the 2nd quarter. Harding Loevner LP now owns 4,066,818 shares of the bank’s stock worth $181,177,000 after purchasing an additional 58,267 shares during the last quarter. Vanguard Group Inc. raised its holdings in BanColombia by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,150,030 shares of the bank’s stock valued at $140,334,000 after buying an additional 99,894 shares during the period. Earnest Partners LLC raised its holdings in BanColombia by 4.6% in the 1st quarter. Earnest Partners LLC now owns 2,893,735 shares of the bank’s stock valued at $115,373,000 after buying an additional 126,695 shares during the period. Polaris Capital Management LLC purchased a new stake in BanColombia in the 2nd quarter valued at about $126,277,000. Finally, Lazard Asset Management LLC raised its holdings in BanColombia by 1.9% in the 2nd quarter. Lazard Asset Management LLC now owns 2,058,306 shares of the bank’s stock valued at $91,697,000 after buying an additional 37,634 shares during the period. 14.96% of the stock is currently owned by hedge funds and other institutional investors.
Bancolombia SA (Bancolombia) is a financial institution engaged in providing a range of financial products and services to a diversified individual, corporate, and government customer base throughout Colombia, Latin America and the Caribbean region. The Bank operates through 10 segments: Banking Colombia, Banking Panama, Banking El Salvador, Leasing, Trust, Investment Banking, Brokerage, Off Shore and All other.
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