Swedbank AB Reduces Stock Holdings in BanColombia S.A. $CIB

Key Points

• Swedbank AB reduced its stake in BanColombia S.A. by 59.9%, selling 110,300 shares and retaining 73,700 shares valued at $3,404,000.
• BanColombia reported $1.79 EPS for the last quarter, exceeding analysts' expectations of $1.66 and achieving a revenue of $1.80 billion.
• Analyst ratings for BanColombia include one Buy, two Holds, and two Sells, with a consensus rating of "Reduce" and an average price target of $43.75.

Swedbank AB trimmed its position in shares of BanColombia S.A. (NYSE:CIB - Free Report) by 59.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,700 shares of the bank's stock after selling 110,300 shares during the quarter. Swedbank AB's holdings in BanColombia were worth $3,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in BanColombia by 62.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 142,018 shares of the bank's stock worth $5,709,000 after acquiring an additional 54,497 shares during the last quarter. QRG Capital Management Inc. boosted 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 acquiring an additional 1,364 shares during the last quarter. Aberdeen Group plc purchased a new position in BanColombia during the 1st quarter worth $201,000. Bank of America Corp DE boosted its holdings in BanColombia by 13.3% during the 4th quarter. Bank of America Corp DE now owns 169,661 shares of the bank's stock worth $5,346,000 after acquiring an additional 19,960 shares during the last quarter. Finally, Triasima Portfolio Management inc. purchased a new position in BanColombia during the 1st quarter worth $1,768,000.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Bank of America reissued an "underperform" rating on shares of BanColombia in a report on Thursday, September 11th. Zacks Research downgraded shares of BanColombia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Finally, UBS Group reissued a "neutral" rating and issued a $38.00 price target (up from $35.00) on shares of BanColombia in a report on Monday, June 2nd. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $43.75.

BanColombia Price Performance

NYSE CIB traded up $0.62 on Monday, reaching $52.50. 303,155 shares of the company's stock traded hands, compared to its average volume of 317,772. BanColombia S.A. has a 12 month low of $30.65 and a 12 month high of $53.99. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a 50-day simple moving average of $48.40 and a 200 day simple moving average of $44.28. The stock has a market cap of $12.62 billion, a PE ratio of 7.97, a P/E/G ratio of 1.03 and a beta of 0.96.

BanColombia (NYSE:CIB - Get Free Report) last issued 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. BanColombia had a net margin of 15.30% and a return on equity of 19.77%. The business had revenue of $1.80 billion for the quarter, compared to analysts' expectations of $1.75 billion. As a group, research analysts predict that BanColombia S.A. will post 6 earnings per share for the current 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.