Bancolombia S.A. (NYSE:CIB) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. reduced its stake in shares of Bancolombia S.A. (NYSE:CIB - Free Report) by 48.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,400 shares of the bank's stock after selling 7,900 shares during the quarter. Point72 Asset Management L.P.'s holdings in Bancolombia were worth $265,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Lindbrook Capital LLC grew its position in Bancolombia by 74.7% during the 4th quarter. Lindbrook Capital LLC now owns 968 shares of the bank's stock worth $31,000 after purchasing an additional 414 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Bancolombia by 41.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank's stock valued at $72,000 after buying an additional 657 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Bancolombia during the 4th quarter valued at approximately $89,000. R Squared Ltd purchased a new stake in Bancolombia in the fourth quarter valued at approximately $121,000. Finally, V Square Quantitative Management LLC increased its position in shares of Bancolombia by 126.1% during the fourth quarter. V Square Quantitative Management LLC now owns 5,288 shares of the bank's stock worth $169,000 after acquiring an additional 2,949 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CIB shares. Morgan Stanley upgraded shares of Bancolombia from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $40.00 to $53.00 in a research note on Tuesday, January 28th. The Goldman Sachs Group boosted their target price on shares of Bancolombia from $31.00 to $35.00 and gave the stock a "sell" rating in a research note on Monday, February 24th.

Bancolombia Stock Performance

NYSE CIB traded up $0.66 during trading hours on Tuesday, hitting $42.23. 323,094 shares of the stock were exchanged, compared to its average volume of 318,007. The company has a market cap of $10.15 billion, a price-to-earnings ratio of 6.70, a price-to-earnings-growth ratio of 2.47 and a beta of 0.91. Bancolombia S.A. has a 12-month low of $30.25 and a 12-month high of $44.93. The stock has a 50-day moving average of $40.78 and a 200 day moving average of $37.69. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.60.

Bancolombia Increases Dividend

The business also recently declared a dividend, which was paid on Friday, May 9th. Shareholders of record on Tuesday, April 29th were issued a $0.5745 dividend. This represents a dividend yield of 17.13%. The ex-dividend date was Monday, April 28th. This is a positive change from Bancolombia's previous dividend of $0.30. Bancolombia's dividend payout ratio (DPR) is 104.81%.

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.