Goldman Sachs Group Inc. Grows Stock Holdings in BanColombia S.A. $CIB

Key Points

• Goldman Sachs increased its stake in BanColombia S.A. by 62.3% in Q1, acquiring 54,497 additional shares, bringing its total to 142,018 shares valued at approximately $5.7 million.
• Several other institutional investors have also increased their positions in BanColombia, including SVB Wealth LLC and Whipplewood Advisors LLC, with Whipplewood growing its stake by nearly 4,801%.
• BanColombia's stock has received mixed ratings from analysts, with a consensus rating of "Reduce" and a price target set at an average of $43.75, although UBS recently raised its target to $38.00.

Goldman Sachs Group Inc. boosted its position in BanColombia S.A. (NYSE:CIB - Free Report) by 62.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 142,018 shares of the bank's stock after acquiring an additional 54,497 shares during the period. Goldman Sachs Group Inc. owned 0.06% of BanColombia worth $5,709,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. QRG Capital Management Inc. boosted its stake in shares of BanColombia by 9.4% during the 1st quarter. QRG Capital Management Inc. now owns 15,840 shares of the bank's stock valued at $637,000 after purchasing an additional 1,364 shares in the last quarter. Aberdeen Group plc bought a new stake in shares of BanColombia during the 1st quarter valued at about $201,000. Northern Trust Corp boosted its stake in shares of BanColombia by 190.9% during the 4th quarter. Northern Trust Corp now owns 138,083 shares of the bank's stock valued at $4,351,000 after purchasing an additional 90,616 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of BanColombia by 13.3% during the 4th quarter. Bank of America Corp DE now owns 169,661 shares of the bank's stock valued at $5,346,000 after purchasing an additional 19,960 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of BanColombia by 4,011.7% during the 1st quarter. GAMMA Investing LLC now owns 32,441 shares of the bank's stock valued at $1,304,000 after purchasing an additional 31,652 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Bank of America reissued an "underperform" rating on shares of BanColombia in a research note on Thursday, September 11th. Zacks Research lowered shares of BanColombia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Finally, UBS Group reissued a "neutral" rating and set a $38.00 price objective (up previously from $35.00) on shares of BanColombia in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $43.75.

BanColombia Stock Performance

Shares of CIB traded up $0.37 during mid-day trading on Friday, hitting $51.93. 397,013 shares of the company traded hands, compared to its average volume of 309,956. 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 $48.25 and a two-hundred day moving average price of $44.17. BanColombia S.A. has a 1 year low of $30.65 and a 1 year high of $53.99. The stock has a market cap of $12.49 billion, a price-to-earnings ratio of 7.88, a P/E/G ratio of 1.02 and a beta of 0.97.

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