BanColombia S.A. $CIB Shares Acquired by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC significantly increased its position in BanColombia S.A. by 176.6%, owning approximately 239,710 shares worth about $9.64 million.
• BanColombia reported earnings of $1.79 per share, exceeding analyst expectations, and had a return on equity of 19.77% for the last quarter.
• Analysts have mixed ratings on BanColombia, with Bank of America upgrading it to "neutral" and a consensus target price of $43.75.

Cubist Systematic Strategies LLC grew its stake in shares of BanColombia S.A. (NYSE:CIB - Free Report) by 176.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 239,710 shares of the bank's stock after acquiring an additional 153,058 shares during the period. Cubist Systematic Strategies LLC owned about 0.10% of BanColombia worth $9,636,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Earnest Partners LLC increased its holdings in BanColombia by 2.3% during the first quarter. Earnest Partners LLC now owns 2,566,128 shares of the bank's stock valued at $103,158,000 after buying an additional 56,475 shares during the period. Dimensional Fund Advisors LP boosted its stake in BanColombia by 4.1% in 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 in the last quarter. Russell Investments Group Ltd. boosted its stake in BanColombia by 18.0% in 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 in the last quarter. Lazard Asset Management LLC boosted its stake in BanColombia by 35.9% in 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 in the last quarter. Finally, RWC Asset Management LLP acquired a new stake in BanColombia in the first quarter valued at approximately $12,536,000.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CIB shares. UBS Group reiterated a "neutral" rating and set a $38.00 price objective (up from $35.00) on shares of BanColombia in a research note on Monday, June 2nd. Zacks Research downgraded shares of BanColombia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Finally, Bank of America upgraded shares of BanColombia from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from $41.00 to $49.00 in a research note on Thursday, August 7th. One equities 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. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $43.75.

BanColombia Stock Performance

NYSE CIB traded up $1.71 on Friday, reaching $52.25. 475,849 shares of the company's stock traded hands, compared to its average volume of 282,492. BanColombia S.A. has a fifty-two week low of $30.65 and a fifty-two week high of $52.29. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50 day moving average price of $46.88 and a 200-day moving average price of $43.48. The firm has a market cap of $12.56 billion, a price-to-earnings ratio of 7.93, a P/E/G ratio of 1.01 and a beta of 0.97.

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