Earnest Partners LLC Cuts Position in Bancolombia S.A. (NYSE:CIB)

Earnest Partners LLC reduced its stake in shares of Bancolombia S.A. (NYSE:CIB - Free Report) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,509,653 shares of the bank's stock after selling 40,326 shares during the period. Earnest Partners LLC owned 1.04% of Bancolombia worth $79,079,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Truffle Hound Capital LLC purchased a new stake in shares of Bancolombia in the 4th quarter valued at approximately $11,028,000. GQG Partners LLC purchased a new position in Bancolombia in the fourth quarter worth approximately $9,724,000. Ranmore Fund Management Ltd acquired a new stake in Bancolombia during the fourth quarter worth $8,284,000. JPMorgan Chase & Co. raised its position 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 purchasing an additional 138,461 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Bancolombia by 12.3% in the 4th 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.

Analysts Set New Price Targets

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

Bancolombia Trading Up 1.4 %

NYSE CIB traded up $0.58 during trading on Friday, hitting $41.08. The stock had a trading volume of 203,601 shares, compared to its average volume of 312,086. 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 company has a market capitalization of $9.88 billion, a PE ratio of 6.52, a PEG ratio of 2.47 and a beta of 0.85. The firm has a 50 day moving average price of $41.00 and a 200 day moving average price of $36.59. 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 announced its earnings results on Thursday, February 20th. The bank reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.22. Bancolombia had a net margin of 14.14% and a return on equity of 14.61%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.41 billion. As a group, equities research analysts forecast that Bancolombia S.A. will post 6 earnings per share for the current year.

Bancolombia Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, May 9th. Stockholders of record on Tuesday, April 29th will be paid a $0.5745 dividend. This is a boost from Bancolombia's previous dividend of $0.30. This represents a dividend yield of 17.13%. The ex-dividend date is Monday, April 28th. Bancolombia's dividend payout ratio (DPR) is presently 107.46%.

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.