Earnest Partners LLC Boosts Holdings in BanColombia S.A. $CIB

Key Points

• Earnest Partners LLC increased its stake in BanColombia S.A. by 2.3%, owning 2,566,128 shares valued at approximately $103 million after purchasing an additional 56,475 shares in the first quarter.
• BanColombia's latest quarterly earnings showed an EPS of $1.79, exceeding analysts' expectations, with a total revenue of $1.80 billion.
• Analysts have a consensus rating of "Hold" for BanColombia shares, with an average target price set at $43.75, reflecting recent upgrades by firms such as Bank of America.

Earnest Partners LLC lifted its stake in shares of BanColombia S.A. (NYSE:CIB - Free Report) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,566,128 shares of the bank's stock after acquiring an additional 56,475 shares during the quarter. Earnest Partners LLC owned approximately 1.07% of BanColombia worth $103,158,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SVB Wealth LLC bought a new position in shares of BanColombia during the 1st quarter valued at approximately $45,000. Aberdeen Group plc bought a new position in BanColombia in the 1st quarter worth approximately $201,000. Whipplewood Advisors LLC boosted its stake in BanColombia by 4,800.9% in the 1st quarter. Whipplewood Advisors LLC now owns 5,195 shares of the bank's stock worth $209,000 after purchasing an additional 5,089 shares during the period. Malaga Cove Capital LLC bought a new position in BanColombia in the 1st quarter worth approximately $209,000. Finally, JBF Capital Inc. bought a new position in BanColombia in the 1st quarter worth approximately $241,000.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CIB shares. 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. UBS Group restated a "neutral" rating and issued a $38.00 price target (up from $35.00) on shares of BanColombia in a research note on Monday, June 2nd. Finally, Zacks Research downgraded BanColombia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, BanColombia currently has a consensus rating of "Hold" and a consensus target price of $43.75.

BanColombia Price Performance

Shares of NYSE CIB traded up $0.60 during midday trading on Monday, reaching $50.40. 250,142 shares of the stock traded hands, compared to its average volume of 331,827. 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 market capitalization of $12.12 billion, a PE ratio of 7.65, a P/E/G ratio of 1.01 and a beta of 0.96. BanColombia S.A. has a one year low of $30.65 and a one year high of $50.60. The company's 50 day moving average is $46.30 and its 200 day moving average is $43.18.

BanColombia (NYSE:CIB - Get Free Report) last posted its 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. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.75 billion. BanColombia had a return on equity of 19.77% and a net margin of 15.30%. On average, equities research analysts anticipate that BanColombia S.A. will post 6 earnings per share for the current year.

BanColombia Profile

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.