Mirabella Financial Services LLP Makes New Investment in Bancolombia S.A. (NYSE:CIB)

Mirabella Financial Services LLP acquired a new position in shares of Bancolombia S.A. (NYSE:CIB - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 99,279 shares of the bank's stock, valued at approximately $3,128,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CIB. Truffle Hound Capital LLC purchased a new position in Bancolombia during the 4th quarter worth $11,028,000. GQG Partners LLC acquired a new position in shares of Bancolombia during the fourth quarter worth about $9,724,000. Ranmore Fund Management Ltd purchased a new position in Bancolombia during the fourth quarter worth about $8,284,000. JPMorgan Chase & Co. raised its holdings in Bancolombia by 40.0% during the fourth quarter. JPMorgan Chase & Co. now owns 484,281 shares of the bank's stock worth $15,260,000 after purchasing an additional 138,461 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Bancolombia by 12.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 928,679 shares of the bank's stock valued at $29,263,000 after purchasing an additional 102,015 shares during the period.

Analyst Ratings Changes

Several equities analysts have issued reports on CIB shares. Morgan Stanley upgraded Bancolombia from an "equal weight" rating to an "overweight" rating and boosted 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 objective on Bancolombia from $31.00 to $35.00 and gave the stock a "sell" rating in a report on Monday, February 24th.

Bancolombia Price Performance

Shares of CIB stock traded up $0.11 during midday trading on Wednesday, reaching $41.41. 290,639 shares of the company traded hands, compared to its average volume of 310,023. The firm's 50 day simple moving average is $41.18 and its two-hundred day simple moving average is $36.15. The firm has a market cap of $9.96 billion, a PE ratio of 6.57, a price-to-earnings-growth ratio of 2.47 and a beta of 0.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.05 and a quick ratio of 1.00. Bancolombia S.A. has a 1-year low of $30.25 and a 1-year high of $44.93.

Bancolombia (NYSE:CIB - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The bank reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.22. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.41 billion. Bancolombia had a return on equity of 14.61% and a net margin of 14.14%. On average, equities research analysts expect that Bancolombia S.A. will post 6 EPS for the current fiscal year.

Bancolombia Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 9th. Shareholders of record on Tuesday, April 29th will be issued a dividend of $0.5745 per share. This is an increase from Bancolombia's previous dividend of $0.30. This represents a yield of 17.13%. The ex-dividend date of this dividend is Monday, April 28th. Bancolombia's dividend payout ratio (DPR) is 107.46%.

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.