BanColombia S.A. $CIB Shares Sold by Ethic Inc.

Key Points

• Ethic Inc. decreased its stake in BanColombia S.A. by 12.3% after selling 11,792 shares, leaving it with a total of 83,763 shares worth approximately $3.47 million.
• Several large investors, including Laird Norton Wetherby Wealth Management and US Bancorp DE, have increased their holdings in BanColombia by as much as 16.1% recently.
• BanColombia reported earnings of $1.79 EPS, surpassing analysts' expectations, and has received upgraded stock ratings, with price targets now ranging from $38.00 to $49.00.

Ethic Inc. trimmed its stake in BanColombia S.A. (NYSE:CIB - Free Report) by 12.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,763 shares of the bank's stock after selling 11,792 shares during the period. Ethic Inc.'s holdings in BanColombia were worth $3,466,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CIB. Aberdeen Group plc bought a new stake in BanColombia during the first quarter valued at $201,000. Whipplewood Advisors LLC raised its holdings in shares of 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 acquiring an additional 5,089 shares during the last quarter. Malaga Cove Capital LLC purchased a new stake in BanColombia in the 1st quarter valued at about $209,000. JBF Capital Inc. purchased a new stake in shares of BanColombia during the 1st quarter worth approximately $241,000. Finally, Aigen Investment Management LP purchased a new stake in shares of BanColombia during the 1st quarter worth approximately $241,000.

Wall Street Analyst Weigh In

CIB has been the topic of a number of recent analyst reports. UBS Group reiterated a "neutral" rating and issued a $38.00 price objective (up previously from $35.00) on shares of BanColombia in a research report on Monday, June 2nd. Bank of America upgraded shares of BanColombia from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $41.00 to $49.00 in a research note on Thursday, August 7th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $43.75.

BanColombia Stock Up 0.7%

NYSE CIB traded up $0.3580 during trading on Thursday, reaching $49.7680. 262,918 shares of the company's stock traded hands, compared to its average volume of 394,958. 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 firm has a market cap of $11.97 billion, a price-to-earnings ratio of 7.55, a price-to-earnings-growth ratio of 0.98 and a beta of 0.92. The company's 50 day simple moving average is $45.31 and its two-hundred day simple moving average is $42.64. BanColombia S.A. has a 12-month low of $30.65 and a 12-month high of $49.82.

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. 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 the consensus estimate of $1.75 billion. As a group, sell-side analysts forecast that BanColombia S.A. will post 6 EPS for the current fiscal year.

BanColombia Company 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.