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Monday, November 23, 2020

Bancolombia S.A. (NYSE:CIB) Recent Earnings Shows Major Promise

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Bancolombia S.A. (CIB) shares are trading at higher $26.48 and the avg recommendation for the stock is Hold. while the current analyst price target stands at $34.80.

To add more color to this target, the company’s high over the last year is $56.10 and the low is $16.27. Over the last 52 weeks, CIB is down -52.80% while the S&P 500 is up 0.22%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, CIB reported a profit of $870.4 million. Bancolombia S.A. also saw revenues increase to $1.37 billion. In addition, CIB has free cash flow of $0.0 as of 06-2020.

CIB booked profit margins of 15.00%, its Return on Equity (ROE) is 9.80%, and its Return on Assets is 1.10%. All told, it is clear that, CIB needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. CIB has a short ratio of 2.39 and outstanding shares of 240.46M.

Company Outlook

CIB has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.25 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 2.90. Investors should also keep an eye on sector updates as CIB has historically followed its peers on positive news.

All told, Bancolombia S.A. CIB has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CIB represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Bancolombia S.A. CIB is now commanding a market cap of 6.53B and a float of 107.25M. CIB is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of CIB stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in CIB, either long or short, and we have not been compensated for this article.

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