15,190 Shares in BanColombia S.A. $CIB Acquired by Banco BTG Pactual S.A.

Key Points

• Banco BTG Pactual S.A. acquired 15,190 shares of BanColombia S.A. for approximately $611,000 during the first quarter, indicating institutional interest in the bank's stock.
• BanColombia reported earnings of $1.79 per share for the last quarter, exceeding analysts' expectations and signaling strong financial performance.
• Brokerages have adjusted their ratings and price targets for BanColombia, with Bank of America upgrading the stock to a "neutral" rating and raising its price target to $49.00.

Banco BTG Pactual S.A. purchased a new stake in shares of BanColombia S.A. (NYSE:CIB - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,190 shares of the bank's stock, valued at approximately $611,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Laird Norton Wetherby Wealth Management LLC raised its stake in shares of BanColombia by 7.5% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 9,628 shares of the bank's stock valued at $303,000 after purchasing an additional 668 shares during the period. Measured Wealth Private Client Group LLC lifted its holdings in BanColombia by 7.9% in the first quarter. Measured Wealth Private Client Group LLC now owns 9,548 shares of the bank's stock worth $384,000 after purchasing an additional 700 shares during the period. US Bancorp DE lifted its holdings in BanColombia by 14.3% in the 1st quarter. US Bancorp DE now owns 6,394 shares of the bank's stock valued at $257,000 after acquiring an additional 800 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in BanColombia by 16.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 7,824 shares of the bank's stock worth $247,000 after buying an additional 1,085 shares during the period. Finally, QRG Capital Management Inc. raised its holdings in BanColombia by 9.4% during the 1st quarter. QRG Capital Management Inc. now owns 15,840 shares of the bank's stock worth $637,000 after buying an additional 1,364 shares during the period.

BanColombia Stock Performance

Shares of NYSE:CIB opened at $48.7260 on Wednesday. BanColombia S.A. has a twelve month low of $30.65 and a twelve month high of $49.79. The firm has a market cap of $11.72 billion, a PE ratio of 7.39, a price-to-earnings-growth ratio of 1.00 and a beta of 0.92. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.00 and a current ratio of 1.00. The business has a fifty day moving average of $45.18 and a 200-day moving average of $42.59.

BanColombia (NYSE:CIB - Get Free Report) last announced its earnings results on Thursday, August 7th. The bank reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.13. BanColombia had a return on equity of 19.77% and a net margin of 15.30%.The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.75 billion. On average, equities research analysts predict that BanColombia S.A. will post 6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on CIB. UBS Group reissued a "neutral" rating and issued a $38.00 price target (up previously from $35.00) on shares of BanColombia in a research note on Monday, June 2nd. Bank of America raised BanColombia from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $41.00 to $49.00 in a research report on Thursday, August 7th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $43.75.

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.

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