Groupama Asset Managment Invests $820,000 in BanColombia S.A. $CIB

Key Points

• Groupama Asset Management acquired a new stake in BanColombia S.A. worth approximately $820,000, acquiring 18,726 shares in the first quarter.
• BanColombia reported a quarterly earnings per share (EPS) of $1.79, exceeding analyst estimates of $1.66, and had a revenue of $1.80 billion surpassing estimates of $1.75 billion.
• Several analysts have upgraded their ratings on BanColombia, with Bank of America increasing its target price from $41 to $49, now maintaining a neutral rating on the stock.

Groupama Asset Managment acquired a new position in shares of BanColombia S.A. (NYSE:CIB - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 18,726 shares of the bank's stock, valued at approximately $820,000.

Several other large investors have also recently added to or reduced their stakes in CIB. Itau Unibanco Holding S.A. acquired a new stake in BanColombia in the 4th quarter valued at $24,801,000. RWC Asset Management LLP acquired a new stake in BanColombia in the 1st quarter valued at $12,536,000. Voloridge Investment Management LLC increased its holdings in BanColombia by 143.4% in the 4th quarter. Voloridge Investment Management LLC now owns 190,469 shares of the bank's stock valued at $6,002,000 after purchasing an additional 112,208 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in BanColombia in the 4th quarter valued at $3,104,000. Finally, Northern Trust Corp increased its holdings in BanColombia by 190.9% in 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.

BanColombia Stock Up 0.2%

NYSE:CIB traded up $0.0920 on Friday, reaching $49.9020. The stock had a trading volume of 240,687 shares, compared to its average volume of 350,220. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average of $45.60 and a 200 day moving average of $42.81. The stock has a market cap of $12.00 billion, a P/E ratio of 7.57, a price-to-earnings-growth ratio of 1.00 and a beta of 0.92. BanColombia S.A. has a 12-month low of $30.65 and a 12-month high of $50.60.

BanColombia (NYSE:CIB - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The bank reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.13. The company had revenue of $1.80 billion during the quarter, compared to analysts' expectations of $1.75 billion. BanColombia had a net margin of 15.30% and a return on equity of 19.77%. On average, research analysts predict that BanColombia S.A. will post 6 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CIB. Bank of America upgraded BanColombia from an "underperform" rating to a "neutral" rating and increased their price target for the company from $41.00 to $49.00 in a report on Thursday, August 7th. UBS Group reiterated a "neutral" rating and issued a $38.00 price target (up from $35.00) on shares of BanColombia in a report on Monday, June 2nd. One 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. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $43.75.

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.