Bancolombia S.A. (NYSE:CIB) Stake Lowered by Earnest Partners LLC

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 & Exchange Commission. The institutional investor 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.

Several other institutional investors and hedge funds have also modified their holdings of CIB. Ballentine Partners LLC raised its position in shares of Bancolombia by 6.5% during the fourth quarter. Ballentine Partners LLC now owns 11,209 shares of the bank's stock worth $353,000 after acquiring an additional 680 shares during the last quarter. BSW Wealth Partners boosted its position in shares of Bancolombia by 7.9% in the fourth quarter. BSW Wealth Partners now owns 17,932 shares of the bank's stock valued at $565,000 after acquiring an additional 1,306 shares during the period. R Squared Ltd acquired a new position in Bancolombia in the fourth quarter valued at about $121,000. Caprock Group LLC raised its stake in Bancolombia by 21.8% during the fourth quarter. Caprock Group LLC now owns 24,324 shares of the bank's stock worth $786,000 after acquiring an additional 4,360 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Bancolombia by 41.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank's stock valued at $72,000 after buying an additional 657 shares in the last quarter.

Analysts Set New Price Targets

Several research firms recently issued reports on CIB. Morgan Stanley upgraded shares of Bancolombia from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $40.00 to $53.00 in a report on Tuesday, January 28th. The Goldman Sachs Group boosted their price target on Bancolombia from $31.00 to $35.00 and gave the company a "sell" rating in a report on Monday, February 24th.

Bancolombia Trading Up 0.7 %

Bancolombia stock traded up $0.27 during trading hours on Thursday, hitting $40.59. The company had a trading volume of 224,106 shares, compared to its average volume of 311,912. Bancolombia S.A. has a 1 year low of $30.25 and a 1 year high of $44.93. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.05. The firm has a market cap of $9.76 billion, a P/E ratio of 6.44, a P/E/G ratio of 2.47 and a beta of 0.85. The company has a 50-day moving average price of $41.10 and a two-hundred day moving average price of $36.47.

Bancolombia (NYSE:CIB - Get Free Report) last announced its quarterly earnings results 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 analyst estimates of $1.41 billion. Bancolombia had a return on equity of 14.61% and a net margin of 14.14%. On average, sell-side analysts anticipate that Bancolombia S.A. will post 6 earnings per share for the current year.

Bancolombia Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, May 9th. Investors of record on Tuesday, April 29th will be issued a dividend of $0.5745 per share. This is a boost from Bancolombia's previous dividend of $0.30. This represents a yield of 17.13%. The ex-dividend date is Monday, April 28th. Bancolombia's dividend payout ratio is currently 107.46%.

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.