Connor Clark & Lunn Investment Management Ltd. trimmed its position in Bancolombia S.A. (NYSE:CIB - Free Report) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 164,432 shares of the bank's stock after selling 8,750 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.07% of Bancolombia worth $5,181,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amundi lifted its stake in Bancolombia by 2.1% in the fourth quarter. Amundi now owns 362,391 shares of the bank's stock worth $11,741,000 after acquiring an additional 7,386 shares during the period. Wellington Management Group LLP bought a new stake in shares of Bancolombia during the 3rd quarter valued at about $8,208,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Bancolombia by 7.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 128,546 shares of the bank's stock valued at $4,034,000 after buying an additional 8,432 shares during the period. Raymond James Financial Inc. bought a new position in Bancolombia in the fourth quarter worth about $3,104,000. Finally, Capital Wealth Planning LLC lifted its holdings in Bancolombia by 8.8% in the fourth quarter. Capital Wealth Planning LLC now owns 96,850 shares of the bank's stock worth $3,052,000 after buying an additional 7,856 shares during the period.
Analyst Ratings Changes
Several research analysts have recently issued reports on CIB shares. Morgan Stanley raised Bancolombia from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $40.00 to $53.00 in a research report on Tuesday, January 28th. The Goldman Sachs Group upped their price target on Bancolombia from $31.00 to $35.00 and gave the stock a "sell" rating in a research note on Monday, February 24th.
Check Out Our Latest Analysis on CIB
Bancolombia Stock Down 0.7 %
Shares of CIB stock traded down $0.32 during trading hours on Thursday, hitting $42.62. 301,697 shares of the company's stock traded hands, compared to its average volume of 409,343. 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 stock's fifty day simple moving average is $39.11 and its two-hundred day simple moving average is $34.62. Bancolombia S.A. has a 12-month low of $30.25 and a 12-month high of $44.25. The stock has a market cap of $10.25 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 2.47 and a beta of 1.22.
Bancolombia (NYSE:CIB - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.22. Bancolombia had a return on equity of 14.61% and a net margin of 14.14%. The business had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.41 billion. On average, analysts expect that Bancolombia S.A. will post 6 EPS for the current year.
Bancolombia Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be paid a dividend of $3.8119 per share. This is a positive change from Bancolombia's previous quarterly dividend of $0.80. This represents a $15.25 dividend on an annualized basis and a yield of 35.78%. The ex-dividend date of this dividend is Monday, March 31st. Bancolombia's dividend payout ratio (DPR) is currently 50.79%.
About Bancolombia
(
Free Report)
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.
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