Balyasny Asset Management L.P. Purchases Shares of 22,716 Bancolombia S.A. (NYSE:CIB)

Balyasny Asset Management L.P. acquired a new stake in Bancolombia S.A. (NYSE:CIB - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 22,716 shares of the bank's stock, valued at approximately $716,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Bancolombia by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 3,099,224 shares of the bank's stock valued at $97,657,000 after buying an additional 19,499 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Bancolombia by 12.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 928,679 shares of the bank's stock valued at $29,263,000 after purchasing an additional 102,015 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Bancolombia in the fourth quarter valued at approximately $24,801,000. JPMorgan Chase & Co. grew its position in shares of Bancolombia by 40.0% in the fourth quarter. JPMorgan Chase & Co. now owns 484,281 shares of the bank's stock valued at $15,260,000 after purchasing an additional 138,461 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Bancolombia by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 365,603 shares of the bank's stock worth $11,523,000 after purchasing an additional 14,293 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CIB. The Goldman Sachs Group upped their price objective on Bancolombia from $31.00 to $35.00 and gave the company a "sell" rating in a report on Monday, February 24th. Morgan Stanley upgraded shares of 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 note on Tuesday, January 28th.

Bancolombia Stock Up 1.4%

NYSE CIB opened at $42.34 on Thursday. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 6.72, a PEG ratio of 2.47 and a beta of 0.91. Bancolombia S.A. has a 1-year low of $30.25 and a 1-year high of $44.93. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $40.92 and a 200-day moving average of $37.08.

Bancolombia (NYSE:CIB - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The bank reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.22. The firm had revenue of $1.65 billion during 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 research analysts expect that Bancolombia S.A. will post 6 earnings per share for the current fiscal year.

Bancolombia Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, May 9th. Shareholders of record on Tuesday, April 29th were paid a dividend of $0.5745 per share. This represents a yield of 17.13%. This is an increase from Bancolombia's previous dividend of $0.30. The ex-dividend date was Monday, April 28th. Bancolombia's dividend payout ratio is presently 104.81%.

Bancolombia 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.