FIL Ltd Reduces Stake in Bancolombia S.A. (NYSE:CIB)

FIL Ltd trimmed its position in Bancolombia S.A. (NYSE:CIB - Free Report) by 19.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,080 shares of the bank's stock after selling 30,201 shares during the quarter. FIL Ltd owned about 0.05% of Bancolombia worth $4,067,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantinno Capital Management LP purchased a new stake in shares of Bancolombia in the third quarter worth $245,000. Wellington Management Group LLP bought a new position in Bancolombia in the 3rd quarter worth $8,208,000. XTX Topco Ltd purchased a new stake in Bancolombia in the 3rd quarter worth $385,000. Public Employees Retirement System of Ohio bought a new stake in Bancolombia during the third quarter valued at about $2,667,000. Finally, Ballentine Partners LLC lifted its position in shares of Bancolombia by 6.5% in the fourth quarter. Ballentine Partners LLC now owns 11,209 shares of the bank's stock valued at $353,000 after acquiring an additional 680 shares in the last quarter.

Bancolombia Price Performance

Shares of Bancolombia stock traded down $0.12 during trading on Friday, reaching $39.54. 196,979 shares of the stock traded hands, compared to its average volume of 309,266. Bancolombia S.A. has a 52-week low of $30.25 and a 52-week high of $44.93. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.05 and a quick ratio of 1.00. The business has a fifty day simple moving average of $41.16 and a two-hundred day simple moving average of $35.89. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of 6.28, a P/E/G ratio of 2.47 and a beta of 0.85.

Bancolombia (NYSE:CIB - Get Free Report) last released 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. Bancolombia had a return on equity of 14.61% and a net margin of 14.14%. The business had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.41 billion. Sell-side analysts expect that Bancolombia S.A. will post 6 EPS for the current year.

Bancolombia Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, May 9th. Investors of record on Tuesday, April 29th will be given a $0.5745 dividend. This represents a yield of 17.13%. The ex-dividend date of this dividend is Monday, April 28th. This is a boost from Bancolombia's previous dividend of $0.30. Bancolombia's payout ratio is currently 235.56%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. The Goldman Sachs Group increased their target price on Bancolombia from $31.00 to $35.00 and gave the stock a "sell" rating in a research 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 company from $40.00 to $53.00 in a report on Tuesday, January 28th.

Bancolombia Company 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.