Allspring Global Investments Holdings LLC Lowers Stock Position in Bancolombia S.A. (NYSE:CIB)

Allspring Global Investments Holdings LLC trimmed its stake in Bancolombia S.A. (NYSE:CIB - Free Report) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 983,059 shares of the bank's stock after selling 74,935 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.41% of Bancolombia worth $30,848,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Blue Trust Inc. grew its position in Bancolombia by 96.5% during the third quarter. Blue Trust Inc. now owns 1,305 shares of the bank's stock valued at $43,000 after acquiring an additional 641 shares during the last quarter. Virtus Investment Advisers Inc. bought a new position in Bancolombia during the first quarter valued at approximately $89,000. Signaturefd LLC grew its position in Bancolombia by 10.6% during the second quarter. Signaturefd LLC now owns 5,053 shares of the bank's stock valued at $165,000 after acquiring an additional 484 shares during the last quarter. AXA S.A. bought a new position in Bancolombia during the second quarter valued at approximately $192,000. Finally, QRG Capital Management Inc. bought a new position in Bancolombia during the first quarter valued at approximately $260,000.

Analyst Ratings Changes

Several research analysts have recently issued reports on CIB shares. Bank of America cut shares of Bancolombia from a "neutral" rating to an "underperform" rating and cut their target price for the stock from $38.00 to $34.00 in a report on Thursday, August 29th. The Goldman Sachs Group cut shares of Bancolombia from a "neutral" rating to a "sell" rating and cut their target price for the stock from $34.00 to $32.00 in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. cut their target price on shares of Bancolombia from $36.00 to $35.00 and set an "underweight" rating on the stock in a report on Monday, August 12th.

Bancolombia Trading Up 2.9 %

CIB stock traded up $0.89 on Thursday, reaching $31.94. The company's stock had a trading volume of 210,209 shares, compared to its average volume of 269,686. The business has a fifty day simple moving average of $32.32 and a two-hundred day simple moving average of $33.28. Bancolombia S.A. has a 12-month low of $25.03 and a 12-month high of $37.85. The firm has a market cap of $7.68 billion, a PE ratio of 5.02, a PEG ratio of 3.16 and a beta of 1.23. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.03 and a current ratio of 1.03.

Bancolombia (NYSE:CIB - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The bank reported $1.44 EPS for the quarter, beating the consensus estimate of $1.43 by $0.01. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.82 billion. Bancolombia had a return on equity of 15.68% and a net margin of 13.73%. As a group, research analysts forecast that Bancolombia S.A. will post 5.99 EPS for the current year.

Bancolombia Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.8456 dividend. This represents a $3.38 annualized dividend and a dividend yield of 10.59%. The ex-dividend date was Friday, September 27th. Bancolombia's dividend payout ratio is presently 52.04%.

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.