14B Captial Management LP Sells 59,000 Shares of BanColombia S.A. $CIB

Key Points

• 14B Capital Management LP has reduced its stake in BanColombia S.A. by 13.7%, now holding 371,000 shares, which makes it the fund's 7th largest position, accounting for about 6.2% of its total holdings.
• Several analysts have rated BanColombia, with Bank of America upgrading its rating from "underperform" to "neutral" and increasing the price target from $41.00 to $49.00, while Zacks Research has downgraded it from "strong-buy" to "hold."
• In the latest earnings report, BanColombia exceeded expectations with an EPS of $1.79, beating the consensus estimate of $1.66 and reporting revenue of $1.80 billion against estimates of $1.75 billion.

14B Captial Management LP reduced its stake in BanColombia S.A. (NYSE:CIB - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 371,000 shares of the bank's stock after selling 59,000 shares during the period. BanColombia makes up about 6.2% of 14B Captial Management LP's investment portfolio, making the stock its 7th biggest holding. 14B Captial Management LP owned approximately 0.15% of BanColombia worth $14,914,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CIB. RWC Asset Management LLP acquired a new stake in BanColombia in the 1st quarter valued at $12,536,000. Cubist Systematic Strategies LLC grew its position in BanColombia by 176.6% in the first quarter. Cubist Systematic Strategies LLC now owns 239,710 shares of the bank's stock valued at $9,636,000 after acquiring an additional 153,058 shares in the last quarter. Voloridge Investment Management LLC grew its position in BanColombia by 143.4% in the fourth quarter. Voloridge Investment Management LLC now owns 190,469 shares of the bank's stock valued at $6,002,000 after acquiring an additional 112,208 shares in the last quarter. Northern Trust Corp grew its position in BanColombia by 190.9% in the fourth quarter. Northern Trust Corp now owns 138,083 shares of the bank's stock valued at $4,351,000 after acquiring an additional 90,616 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in BanColombia by 80.9% in 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 in the last quarter.

Analyst Upgrades and Downgrades

CIB has been the subject of several recent research reports. Zacks Research downgraded shares of BanColombia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Bank of America raised shares of 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. Finally, UBS Group reissued a "neutral" rating and set a $38.00 price target (up previously from $35.00) on shares of BanColombia in a research report on Monday, June 2nd. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $43.75.

BanColombia Stock Performance

BanColombia stock traded up $1.71 during mid-day trading on Friday, reaching $52.25. The company's stock had a trading volume of 475,849 shares, compared to its average volume of 282,492. The firm has a market cap of $12.56 billion, a price-to-earnings ratio of 7.93, a PEG ratio of 1.05 and a beta of 0.97. The business has a 50 day moving average price of $46.88 and a 200-day moving average price of $43.50. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.29. BanColombia S.A. has a twelve month low of $30.65 and a twelve month high of $52.29.

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

About BanColombia

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.