Dodge & Cox Grows Position in BanColombia S.A. $CIB

Key Points

• Dodge & Cox increased its stake in BanColombia S.A. by 85.4% during the first quarter, owning 20,946 shares worth approximately $842,000.
• BanColombia reported earnings of $1.79 per share, surpassing analysts' expectations, with total revenue of $1.80 billion for the quarter.
• Bank of America upgraded BanColombia's rating from "underperform" to "neutral" and raised the price target to $49.00 following better-than-expected earnings.

Dodge & Cox increased its holdings in shares of BanColombia S.A. (NYSE:CIB - Free Report) by 85.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,946 shares of the bank's stock after purchasing an additional 9,646 shares during the quarter. Dodge & Cox's holdings in BanColombia were worth $842,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Laird Norton Wetherby Wealth Management LLC boosted its holdings in shares of BanColombia by 7.5% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 9,628 shares of the bank's stock valued at $303,000 after acquiring an additional 668 shares during the period. Measured Wealth Private Client Group LLC boosted its holdings in shares of BanColombia by 7.9% in the first quarter. Measured Wealth Private Client Group LLC now owns 9,548 shares of the bank's stock valued at $384,000 after acquiring an additional 700 shares during the period. US Bancorp DE boosted its holdings in shares of BanColombia by 14.3% in the first 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 period. Mercer Global Advisors Inc. ADV boosted its holdings in shares of BanColombia by 16.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,824 shares of the bank's stock valued at $247,000 after acquiring an additional 1,085 shares during the period. Finally, SVB Wealth LLC acquired a new stake in shares of BanColombia in the first quarter valued at approximately $45,000.

Analyst Upgrades and Downgrades

CIB has been the subject of several research analyst reports. UBS Group reissued a "neutral" rating and issued a $38.00 price objective (up from $35.00) on shares of BanColombia in a report on Monday, June 2nd. Zacks Research downgraded 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 target for the stock from $41.00 to $49.00 in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $43.75.

BanColombia Stock Performance

Shares of BanColombia stock traded up $0.24 during trading hours on Thursday, hitting $49.79. 168,263 shares of the company were exchanged, compared to its average volume of 391,225. BanColombia S.A. has a 1 year low of $30.65 and a 1 year high of $50.60. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average of $46.02 and a 200-day moving average of $43.00. The stock has a market capitalization of $11.97 billion, a price-to-earnings ratio of 7.55, a P/E/G ratio of 1.01 and a beta of 0.92.

BanColombia (NYSE:CIB - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The bank reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.13. The firm had revenue of $1.80 billion during the quarter, compared to analysts' expectations of $1.75 billion. BanColombia had a return on equity of 19.77% and a net margin of 15.30%. As a group, analysts expect 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.