Arrowstreet Capital Limited Partnership Grows Position in Bancolombia S.A. (NYSE:CIB)

Arrowstreet Capital Limited Partnership lifted its stake in shares of Bancolombia S.A. (NYSE:CIB - Free Report) by 12.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 928,679 shares of the bank's stock after purchasing an additional 102,015 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.39% of Bancolombia worth $29,263,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Lindbrook Capital LLC grew its stake in Bancolombia by 74.7% during the fourth quarter. Lindbrook Capital LLC now owns 968 shares of the bank's stock worth $31,000 after buying an additional 414 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Bancolombia by 41.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank's stock worth $72,000 after acquiring an additional 657 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Bancolombia in the fourth quarter valued at approximately $89,000. R Squared Ltd acquired a new position in Bancolombia during the fourth quarter valued at approximately $121,000. Finally, V Square Quantitative Management LLC lifted its stake in Bancolombia by 126.1% during the fourth quarter. V Square Quantitative Management LLC now owns 5,288 shares of the bank's stock worth $169,000 after purchasing an additional 2,949 shares during the last quarter.

Bancolombia Stock Down 6.1 %

CIB stock traded down $2.44 during midday trading on Monday, reaching $37.61. 1,101,094 shares of the company's stock traded hands, compared to its average volume of 301,905. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.60. The firm's fifty day moving average price is $41.44 and its 200-day moving average price is $35.56. Bancolombia S.A. has a 52 week low of $30.25 and a 52 week high of $44.93. The company has a market cap of $9.04 billion, a price-to-earnings ratio of 5.97, a P/E/G ratio of 2.47 and a beta of 0.85.

Bancolombia (NYSE:CIB - Get Free Report) last posted its 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 company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.41 billion. Bancolombia had a net margin of 14.14% and a return on equity of 14.61%. As a group, sell-side analysts forecast that Bancolombia S.A. will post 6 earnings per share for the current fiscal year.

Bancolombia Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be given a dividend of $3.8119 per share. This is a boost from Bancolombia's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Monday, March 31st. This represents a $15.25 annualized dividend and a dividend yield of 40.55%. Bancolombia's payout ratio is presently 235.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. The Goldman Sachs Group boosted their price target on Bancolombia from $31.00 to $35.00 and gave the stock a "sell" rating in a report on Monday, February 24th. Morgan Stanley upgraded Bancolombia from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $40.00 to $53.00 in a research note on Tuesday, January 28th.

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.