Russell Investments Group Ltd. increased its stake in shares of Bancolombia SA (NYSE: CIB – Get Rating) by 6.0% during the first quarter, according to its most recent Form 13F filed with the Securities and Exchange Commission. The fund held 221,845 shares of the bank after buying an additional 12,474 shares during the quarter. Russell Investments Group Ltd. held 0.09% of Bancolombia worth $9,463,000 at the end of the last quarter.

Several other large investors have also recently changed their stock holdings. Advisor Group Holdings Inc. increased its position in Bancolombia by 12.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,173 shares of the bank worth $221,000 after acquiring 553 additional shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Bancolombia shares by 56.3% in the first quarter. Envestnet Asset Management Inc. now owns 45,440 shares of the bank worth $1,938,000 after purchasing an additional 16,364 shares during the period. abrdn plc bought a new position in shares of Bancolombia in the first quarter worth $430,000. Signaturefd LLC increased its stake in Bancolombia shares by 4.4% in the first quarter. Signaturefd LLC now owns 6,220 shares of the bank worth $265,000 after purchasing an additional 264 shares during the period. Finally, Greenleaf Trust increased its stake in Bancolombia shares by 5.7% in the first quarter. Greenleaf Trust now owns 13,825 shares of the bank worth $590,000 after purchasing an additional 750 shares during the period. Hedge funds and other institutional investors hold 3.72% of the company’s shares.

A Wall Street analyst gives his opinion

Several research analysts have recently commented on CIB shares. TheStreet downgraded Bancolombia’s shares from a “b-” rating to a “c+” rating in a Wednesday July 27 research note. JPMorgan Chase & Co. downgraded Bancolombia’s shares from an “overweight” rating to a “neutral” rating and set a target price of $46.00 for the stock. in a research note from Tuesday, April 12. Credit Suisse Group upgraded Bancolombia’s shares from a “neutral” rating to an “outperforming” rating and set a target price of $35.00 for the stock in a Tuesday, Aug. 2 research note. Finally, Citigroup upgraded Bancolombia’s shares from a “neutral” rating to a “buy” rating in a Tuesday, May 3 research report. One research analyst gave the stock a hold rating and six gave the stock a buy rating. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

Bancolombia share performance

CIB shares opened at $29.94 on Friday. Bancolombia SA has a 12-month low of $26.27 and a 12-month high of $45.98. The stock has a market capitalization of $7.20 billion, a PE ratio of 5.23, a growth price-earnings ratio of 0.27 and a beta of 1.27. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt ratio of 0.62. The company’s fifty-day moving average price is $33.49 and its 200-day moving average price is $36.61.

Bancolombia (NYSE:CIB – Get Rating) last announced its results on Wednesday, May 11. The bank reported EPS of $1.92 for the quarter, beating consensus analyst estimates of $1.17 by $0.75. Bancolombia achieved a net margin of 22.87% and a return on equity of 14.28%. The company had revenue of $1.35 billion for the quarter. On average, equity analysts expect Bancolombia SA to post an EPS of 6.15 for the current financial year.

Bancolombia cuts its dividends

The company also recently announced a quarterly dividend, which was paid on Monday, July 11. Shareholders of record on Wednesday, June 29 received a dividend of $0.825 per share. This represents a dividend of $3.30 on an annualized basis and a dividend yield of 11.02%. The ex-dividend date was Tuesday, June 28. Bancolombia’s dividend payout ratio (DPR) is currently 45.38%.

Profile Bancolombia

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Bancolombia SA provides banking products and services in Colombia, Panama, Puerto Rico, El Salvador, Costa Rica and Guatemala. The Company operates through nine segments: Bank Colombia, Bank Panama, Bank El Salvador, Bank Guatemala, Trust, Investment Bank, Brokerage, International Bank and All Others.

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Institutional ownership by quarter for Bancolombia (NYSE:CIB)



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