Ethic Inc. Purchases 9,258 Shares of Bancolombia S.A. (NYSE:CIB)

Ethic Inc. boosted its position in Bancolombia S.A. (NYSE:CIB - Free Report) by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 95,555 shares of the bank's stock after acquiring an additional 9,258 shares during the quarter. Ethic Inc.'s holdings in Bancolombia were worth $3,011,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in 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 acquiring an additional 138,461 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Bancolombia during the fourth quarter worth $3,104,000. Integrated Quantitative Investments LLC bought a new stake in shares of Bancolombia during the fourth quarter worth $693,000. Stokes Family Office LLC grew its stake in shares of Bancolombia by 30.5% during the fourth quarter. Stokes Family Office LLC now owns 33,790 shares of the bank's stock worth $1,065,000 after buying an additional 7,907 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Bancolombia by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 3,099,224 shares of the bank's stock worth $97,657,000 after buying an additional 19,499 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Bancolombia Trading Down 1.6%

Shares of NYSE:CIB traded down $0.67 during mid-day trading on Friday, reaching $41.53. 359,113 shares of the company's stock were exchanged, compared to its average volume of 317,646. The firm has a market capitalization of $9.99 billion, a price-to-earnings ratio of 6.59, a PEG ratio of 2.47 and a beta of 0.91. The business's fifty day moving average price is $40.95 and its 200-day moving average price is $37.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.05. Bancolombia S.A. has a twelve month low of $30.25 and a twelve month high of $44.93.

Bancolombia (NYSE:CIB - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The bank reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.22. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.41 billion. Bancolombia had a net margin of 14.14% and a return on equity of 14.61%. On average, research analysts predict that Bancolombia S.A. will post 6 EPS for the current fiscal year.

Bancolombia Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, May 9th. Stockholders of record on Tuesday, April 29th were issued a dividend of $0.5745 per share. This represents a dividend yield of 17.13%. The ex-dividend date of this dividend was Monday, April 28th. This is a positive change from Bancolombia's previous dividend of $0.30. Bancolombia's payout ratio is 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.