Trexquant Investment LP lowered its stake in shares of Bancolombia S.A. (NYSE:CIB - Free Report) by 38.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 71,512 shares of the bank's stock after selling 43,863 shares during the quarter. Trexquant Investment LP's holdings in Bancolombia were worth $2,253,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of CIB. Vanguard Group Inc. increased its position in Bancolombia by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 3,099,224 shares of the bank's stock worth $97,657,000 after purchasing an additional 19,499 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Bancolombia by 12.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 928,679 shares of the bank's stock worth $29,263,000 after buying an additional 102,015 shares during the period. JPMorgan Chase & Co. grew its position in shares of Bancolombia by 40.0% during the 4th quarter. JPMorgan Chase & Co. now owns 484,281 shares of the bank's stock worth $15,260,000 after buying an additional 138,461 shares during the period. Amundi raised its stake in shares of Bancolombia by 2.1% during the fourth quarter. Amundi now owns 362,391 shares of the bank's stock worth $11,741,000 after buying an additional 7,386 shares during the last quarter. Finally, Truffle Hound Capital LLC acquired a new position in Bancolombia in the fourth quarter valued at approximately $11,028,000.
Analyst Upgrades and Downgrades
CIB has been the subject of several recent research reports. Morgan Stanley upgraded shares of Bancolombia from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $40.00 to $53.00 in a research report on Tuesday, January 28th. The Goldman Sachs Group lifted their price objective on Bancolombia from $31.00 to $35.00 and gave the stock a "sell" rating in a research note on Monday, February 24th.
Get Our Latest Stock Report on Bancolombia
Bancolombia Trading Up 3.7 %
NYSE CIB traded up $1.34 during trading on Friday, reaching $37.83. 707,431 shares of the stock traded hands, compared to its average volume of 308,524. Bancolombia S.A. has a fifty-two week low of $30.25 and a fifty-two week high of $44.93. 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 has a market cap of $9.10 billion, a price-to-earnings ratio of 6.01, a price-to-earnings-growth ratio of 2.47 and a beta of 0.85. The stock's 50-day moving average price is $41.20 and its 200 day moving average price is $35.72.
Bancolombia (NYSE:CIB - Get Free Report) last announced its quarterly 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. Bancolombia had a net margin of 14.14% and a return on equity of 14.61%. The company had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.41 billion. Analysts predict that Bancolombia S.A. will post 6 EPS for the current year.
Bancolombia Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Monday, March 31st were given a dividend of $3.8119 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $15.25 dividend on an annualized basis and a dividend yield of 40.30%. This is a positive change from Bancolombia's previous quarterly dividend of $0.80. Bancolombia's dividend payout ratio (DPR) is currently 235.56%.
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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