Invesco Ltd. Decreases Holdings in BanColombia S.A. $CIB

Key Points

• Invesco Ltd. has reduced its holdings in BanColombia S.A. by 16.4%, now owning 70,784 shares valued at approximately $2.8 million as of the end of the first quarter.
• UBS Group and Bank of America have recently adjusted their ratings and target prices for BanColombia, with Bank of America raising its target from $41.00 to $49.00.
• BanColombia reported quarterly earnings of $1.79 per share, surpassing expectations and reflecting a net margin of 15.30%.

Invesco Ltd. reduced its position in shares of BanColombia S.A. (NYSE:CIB - Free Report) by 16.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,784 shares of the bank's stock after selling 13,849 shares during the quarter. Invesco Ltd.'s holdings in BanColombia were worth $2,846,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CIB. Whipplewood Advisors LLC lifted its holdings in BanColombia by 4,800.9% in the first quarter. Whipplewood Advisors LLC now owns 5,195 shares of the bank's stock valued at $209,000 after buying an additional 5,089 shares during the period. Malaga Cove Capital LLC purchased a new stake in shares of BanColombia during the 1st quarter valued at $209,000. JBF Capital Inc. purchased a new stake in BanColombia during the 1st quarter valued at about $241,000. Mercer Global Advisors Inc. ADV increased its stake in shares of BanColombia by 16.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,824 shares of the bank's stock valued at $247,000 after buying an additional 1,085 shares during the period. Finally, US Bancorp DE lifted its position in BanColombia by 14.3% during the first quarter. US Bancorp DE now owns 6,394 shares of the bank's stock valued at $257,000 after buying an additional 800 shares during the period.

Analysts Set New Price Targets

A number of research firms have commented on CIB. Zacks Research cut shares of BanColombia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. UBS Group reiterated a "neutral" rating and issued a $38.00 price objective (up from $35.00) on shares of BanColombia in a report on Monday, June 2nd. Finally, Bank of America upgraded shares of BanColombia from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $41.00 to $49.00 in a report on Thursday, August 7th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, BanColombia has a consensus rating of "Hold" and an average price target of $43.75.

BanColombia Price Performance

Shares of CIB traded down $0.15 during mid-day trading on Wednesday, reaching $49.74. The company had a trading volume of 157,492 shares, compared to its average volume of 388,465. BanColombia S.A. has a twelve month low of $30.65 and a twelve month high of $50.60. The company has a market capitalization of $11.96 billion, a P/E ratio of 7.55, a P/E/G ratio of 1.01 and a beta of 0.97. 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 company's 50-day moving average is $46.55 and its 200-day moving average is $43.30.

BanColombia (NYSE:CIB - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The bank reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.13. The business 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 analysts anticipate that BanColombia S.A. will post 6 EPS 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.