American Century Companies Inc. Purchases 6,776 Shares of BanColombia S.A. $CIB

Key Points

• American Century Companies Inc. increased its stake in BanColombia S.A. by 7.0%, acquiring an additional 6,776 shares and raising its total holdings to 103,666 shares valued at $4,167,000.
• Several analysts have recently upgraded their ratings on BanColombia, with Bank of America raising its target price to $49.00 and UBS increasing their target to $38.00, reflecting a more positive outlook on the stock.
• In its latest earnings report, BanColombia reported $1.79 earnings per share, surpassing analysts’ expectations, and achieved a revenue of $1.80 billion compared to the anticipated $1.75 billion.

American Century Companies Inc. raised its holdings in shares of BanColombia S.A. (NYSE:CIB - Free Report) by 7.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 103,666 shares of the bank's stock after acquiring an additional 6,776 shares during the period. American Century Companies Inc.'s holdings in BanColombia were worth $4,167,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in BanColombia by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 365,603 shares of the bank's stock valued at $11,523,000 after acquiring an additional 14,293 shares during the last quarter. Russell Investments Group Ltd. grew its position in BanColombia by 18.0% during the first quarter. Russell Investments Group Ltd. now owns 330,931 shares of the bank's stock valued at $13,303,000 after acquiring an additional 50,409 shares during the last quarter. Lazard Asset Management LLC grew its position in BanColombia by 35.9% during the fourth quarter. Lazard Asset Management LLC now owns 321,417 shares of the bank's stock valued at $10,127,000 after acquiring an additional 84,837 shares during the last quarter. RWC Asset Management LLP bought a new position in BanColombia during the first quarter valued at approximately $12,536,000. Finally, D. E. Shaw & Co. Inc. grew its position in BanColombia by 80.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 200,065 shares of the bank's stock valued at $6,304,000 after acquiring an additional 89,464 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CIB. Zacks Research cut shares of BanColombia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. UBS Group reissued a "neutral" rating and set a $38.00 price objective (up previously from $35.00) on shares of BanColombia in a research note on Monday, June 2nd. Finally, 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 note on Thursday, August 7th. One 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $43.75.

BanColombia Trading Up 1.9%

CIB stock traded up $0.94 on Thursday, reaching $50.46. The company's stock had a trading volume of 455,534 shares, compared to its average volume of 327,460. The business has a fifty day simple moving average of $46.74 and a two-hundred day simple moving average of $43.41. BanColombia S.A. has a 12-month low of $30.65 and a 12-month high of $50.60. The firm has a market cap of $12.13 billion, a PE ratio of 7.66, a PEG ratio of 0.99 and a beta of 0.97. 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 (NYSE:CIB - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The bank reported $1.79 EPS for the quarter, topping 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. As a group, research analysts forecast that BanColombia S.A. will post 6 EPS for the current year.

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.