Ranmore Fund Management Ltd Buys Shares of 262,900 Bancolombia S.A. (NYSE:CIB)

Ranmore Fund Management Ltd bought a new position in Bancolombia S.A. (NYSE:CIB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 262,900 shares of the bank's stock, valued at approximately $8,284,000. Bancolombia makes up 7.7% of Ranmore Fund Management Ltd's portfolio, making the stock its 7th biggest holding. Ranmore Fund Management Ltd owned approximately 0.11% of Bancolombia at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Wellington Management Group LLP bought a new position in Bancolombia in the 3rd quarter worth approximately $8,208,000. Raymond James Financial Inc. bought a new stake in shares of Bancolombia during the fourth quarter worth approximately $3,104,000. XTX Topco Ltd acquired a new position in Bancolombia in the third quarter valued at approximately $385,000. Centiva Capital LP acquired a new position in Bancolombia in the third quarter valued at approximately $288,000. Finally, Stokes Family Office LLC boosted its stake in Bancolombia by 30.5% in the fourth quarter. Stokes Family Office LLC now owns 33,790 shares of the bank's stock valued at $1,065,000 after acquiring an additional 7,907 shares during the last quarter.

Bancolombia Stock Performance

Shares of CIB traded up $1.34 during midday trading on Friday, reaching $37.83. 707,431 shares of the stock were exchanged, compared to its average volume of 308,524. 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 50 day simple moving average is $41.20 and its 200 day simple moving average is $35.72. Bancolombia S.A. has a twelve month low of $30.25 and a twelve month high of $44.93. The company has a market cap of $9.10 billion, a P/E ratio of 6.01, a PEG ratio of 2.47 and a beta of 0.85.

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Bancolombia (NYSE:CIB - Get Free Report) last released its earnings results on Thursday, February 20th. The bank reported $1.57 earnings per share 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 firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.41 billion. On average, sell-side analysts expect that Bancolombia S.A. will post 6 earnings per share for the current year.

Bancolombia Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Monday, March 31st were issued a $3.8119 dividend. This is a positive change from Bancolombia's previous quarterly dividend of $0.80. This represents a $15.25 annualized dividend and a yield of 40.30%. The ex-dividend date was Monday, March 31st. Bancolombia's dividend payout ratio (DPR) is currently 235.56%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CIB shares. Morgan Stanley upgraded shares of 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 report on Tuesday, January 28th. The Goldman Sachs Group raised their price target on Bancolombia from $31.00 to $35.00 and gave the stock a "sell" rating in a research report on Monday, February 24th.

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.