Aberdeen Group plc Acquires New Stake in BanColombia S.A. $CIB

Key Points

• Aberdeen Group plc has acquired a new position in BanColombia S.A. by purchasing 5,086 shares valued at approximately $201,000.
• BanColombia recently reported earnings per share (EPS) of $1.79, exceeding analysts' expectations of $1.66, and showed a revenue of $1.80 billion for the quarter.
• Analyst ratings for BanColombia reflect a mixed outlook, with one Buy rating, two Hold ratings, and one Sell rating, resulting in an average target price of $43.75.

Aberdeen Group plc acquired a new stake in BanColombia S.A. (NYSE:CIB - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,086 shares of the bank's stock, valued at approximately $201,000.

Several other hedge funds also recently modified their holdings of the stock. Itau Unibanco Holding S.A. purchased a new position in BanColombia in the fourth quarter worth $24,801,000. Dimensional Fund Advisors LP raised its stake in shares of BanColombia by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 365,603 shares of the bank's stock valued at $11,523,000 after buying an additional 14,293 shares during the period. Russell Investments Group Ltd. raised its stake in shares of BanColombia by 18.0% in the first quarter. Russell Investments Group Ltd. now owns 330,931 shares of the bank's stock valued at $13,303,000 after buying an additional 50,409 shares during the period. Lazard Asset Management LLC raised its stake in shares of BanColombia by 35.9% in the fourth quarter. Lazard Asset Management LLC now owns 321,417 shares of the bank's stock valued at $10,127,000 after buying an additional 84,837 shares during the period. Finally, RWC Asset Management LLP bought a new stake in shares of BanColombia in the first quarter valued at $12,536,000.

Wall Street Analysts Forecast Growth

CIB has been the topic of several research reports. UBS Group restated a "neutral" rating and issued a $38.00 target price (up from $35.00) on shares of BanColombia in a research note on Monday, June 2nd. Zacks Research cut BanColombia from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Finally, Bank of America upgraded BanColombia from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $41.00 to $49.00 in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $43.75.

BanColombia Trading Up 1.2%

CIB stock traded up $0.57 during trading on Thursday, hitting $50.12. 19,988 shares of the company traded hands, compared to its average volume of 390,273. The company has a 50-day moving average of $46.02 and a 200-day moving average of $43.00. The firm has a market capitalization of $12.05 billion, a PE ratio of 7.62, a P/E/G ratio of 1.01 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. BanColombia S.A. has a 1 year low of $30.65 and a 1 year high of $50.60.

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

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.