Balyasny Asset Management L.P. Purchases New Stake in Bancolombia S.A. (NYSE:CIB)

Balyasny Asset Management L.P. acquired a new stake in shares of Bancolombia S.A. (NYSE:CIB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 22,716 shares of the bank's stock, valued at approximately $716,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Bank of America Corp DE increased its position in shares of Bancolombia by 13.3% during the fourth quarter. Bank of America Corp DE now owns 169,661 shares of the bank's stock valued at $5,346,000 after purchasing an additional 19,960 shares during the period. Mercer Global Advisors Inc. ADV grew its position in Bancolombia by 16.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,824 shares of the bank's stock valued at $247,000 after acquiring an additional 1,085 shares during the period. Itau Unibanco Holding S.A. bought a new stake in Bancolombia in the fourth quarter valued at $24,801,000. Northern Trust Corp grew its position in Bancolombia by 190.9% in the fourth quarter. Northern Trust Corp now owns 138,083 shares of the bank's stock valued at $4,351,000 after acquiring an additional 90,616 shares during the period. Finally, Kerrisdale Advisers LLC grew its position in Bancolombia by 5.5% in the fourth quarter. Kerrisdale Advisers LLC now owns 220,025 shares of the bank's stock valued at $6,933,000 after acquiring an additional 11,435 shares during the period.

Analyst Upgrades and Downgrades

CIB has been the topic of a number of analyst reports. Morgan Stanley upgraded Bancolombia from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $40.00 to $53.00 in a research report on Tuesday, January 28th. The Goldman Sachs Group upped their price target on Bancolombia from $31.00 to $35.00 and gave the company a "sell" rating in a research report on Monday, February 24th.

Bancolombia Price Performance

NYSE CIB traded up $0.13 on Tuesday, hitting $41.76. 24,324 shares of the company were exchanged, compared to its average volume of 315,881. The firm has a 50 day moving average of $40.94 and a two-hundred day moving average of $37.37. The company has a market cap of $10.04 billion, a P/E ratio of 6.62, a P/E/G ratio of 2.47 and a beta of 0.91. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. 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 posted its quarterly earnings results on Thursday, February 20th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.22. The business had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.41 billion. Bancolombia had a return on equity of 14.61% and a net margin of 14.14%. On average, equities analysts predict that Bancolombia S.A. will post 6 EPS for the current year.

Bancolombia Increases Dividend

The company also recently declared a dividend, which was paid on Friday, May 9th. Investors of record on Tuesday, April 29th were issued a $0.5745 dividend. This is a boost from Bancolombia's previous dividend of $0.30. The ex-dividend date of this dividend was Monday, April 28th. This represents a yield of 17.13%. Bancolombia's dividend payout ratio (DPR) is currently 104.81%.

About Bancolombia

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.