Headlands Technologies LLC Acquires 13,207 Shares of BanColombia S.A. (NYSE:CIB)

Key Points

• Headlands Technologies LLC increased its stake in BanColombia S.A. by an impressive 2,673.5% in the first quarter, acquiring a total of 13,701 shares valued at $551,000.
• JPMorgan Chase & Co. and other institutional investors also boosted their holdings in BanColombia, with JPMorgan increasing its stake by 40.0% in the last quarter.
• BanColombia reported earnings of $1.79 per share, exceeding analyst expectations, with a revenue of $1.80 billion for the quarter.

Headlands Technologies LLC grew its stake in shares of BanColombia S.A. (NYSE:CIB - Free Report) by 2,673.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,701 shares of the bank's stock after buying an additional 13,207 shares during the quarter. Headlands Technologies LLC's holdings in BanColombia were worth $551,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Whipplewood Advisors LLC grew its holdings in shares of BanColombia by 4,800.9% during the 1st quarter. Whipplewood Advisors LLC now owns 5,195 shares of the bank's stock valued at $209,000 after purchasing an additional 5,089 shares during the last quarter. Malaga Cove Capital LLC bought a new stake in BanColombia in the 1st quarter worth $209,000. JBF Capital Inc. bought a new stake in BanColombia in the 1st quarter worth $241,000. Mercer Global Advisors Inc. ADV grew its holdings in BanColombia by 16.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 7,824 shares of the bank's stock worth $247,000 after acquiring an additional 1,085 shares during the last quarter. Finally, US Bancorp DE grew its holdings in BanColombia by 14.3% in the 1st quarter. US Bancorp DE now owns 6,394 shares of the bank's stock worth $257,000 after acquiring an additional 800 shares during the last quarter.

BanColombia Stock Performance

Shares of CIB traded down $0.30 during mid-day trading on Wednesday, hitting $48.55. 70,986 shares of the company traded hands, compared to its average volume of 398,261. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50-day moving average price of $44.57 and a two-hundred day moving average price of $42.25. BanColombia S.A. has a 1 year low of $30.65 and a 1 year high of $49.22. The stock has a market cap of $11.67 billion, a price-to-earnings ratio of 7.39, a P/E/G ratio of 0.96 and a beta of 0.92.

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. The firm 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 17.84%. Equities analysts anticipate that BanColombia S.A. will post 6 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. UBS Group reaffirmed a "neutral" rating and issued a $38.00 target price (up from $35.00) on shares of BanColombia in a research report on Monday, June 2nd. Bank of America raised shares of BanColombia from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $41.00 to $49.00 in a report on Thursday, August 7th.

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.