Bank of America Corp DE raised its stake in Bancolombia SA (NYSE:CIB) by 15.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 261,826 shares of the bank’s stock after buying an additional 34,683 shares during the period. Bank of America Corp DE owned about 0.11% of Bancolombia worth $12,510,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CIB. Rational Advisors LLC grew its position in shares of Bancolombia by 60.0% in the 2nd quarter. Rational Advisors LLC now owns 2,934 shares of the bank’s stock valued at $140,000 after buying an additional 1,100 shares during the last quarter. V Wealth Management LLC bought a new stake in shares of Bancolombia in the 2nd quarter valued at about $219,000. Nomura Asset Management Co. Ltd. grew its position in shares of Bancolombia by 61.2% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 9,221 shares of the bank’s stock valued at $387,000 after buying an additional 3,500 shares during the last quarter. Profund Advisors LLC grew its position in shares of Bancolombia by 14.0% in the 1st quarter. Profund Advisors LLC now owns 11,328 shares of the bank’s stock valued at $476,000 after buying an additional 1,392 shares during the last quarter. Finally, Banco de Sabadell S.A bought a new stake in shares of Bancolombia in the 1st quarter valued at about $523,000. Hedge funds and other institutional investors own 10.97% of the company’s stock.
Shares of Bancolombia stock opened at $40.17 on Friday. Bancolombia SA has a one year low of $36.38 and a one year high of $51.38. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $10.03 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 0.81 and a beta of 0.43.
Bancolombia (NYSE:CIB) last announced its earnings results on Wednesday, August 1st. The bank reported $0.84 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.05). Bancolombia had a net margin of 10.82% and a return on equity of 8.17%. The business had revenue of $1.12 billion for the quarter. Equities research analysts expect that Bancolombia SA will post 3.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 11th. Investors of record on Thursday, September 27th were given a dividend of $0.334 per share. The ex-dividend date of this dividend was Wednesday, September 26th. This represents a $1.34 annualized dividend and a dividend yield of 3.33%. Bancolombia’s payout ratio is 37.09%.
CIB has been the topic of a number of analyst reports. Citigroup upgraded Bancolombia from a “sell” rating to a “neutral” rating in a research report on Monday, August 27th. ValuEngine upgraded Bancolombia from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Finally, Zacks Investment Research lowered Bancolombia from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $45.67.
Bancolombia Company Profile
Bancolombia SA provides various banking products and services to individual, corporate, and government customers in Colombia, Latin America, and the Caribbean region. The company operates in nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, Off Shore, and All Other.
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