Swedbank AB Has $7.40 Million Stock Position in BanColombia S.A. $CIB

Key Points

• Swedbank AB reduced its stake in BanColombia S.A. by 17.9% in Q1, now holding 184,000 shares worth approximately $7.4 million.
• BanColombia reported Q2 earnings of $1.79 per share, exceeding estimates, with a revenue of $1.8 billion, higher than anticipated.
• Analysts have mixed views on BanColombia, with price targets ranging from $38.00 to $43.75 and varying ratings from "Buy" to "Sell".

Swedbank AB lowered its stake in BanColombia S.A. (NYSE:CIB - Free Report) by 17.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 184,000 shares of the bank's stock after selling 40,200 shares during the period. Swedbank AB owned approximately 0.08% of BanColombia worth $7,397,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. RWC Asset Management LLP purchased a new stake in BanColombia during the first quarter worth $12,536,000. Millennium Management LLC lifted its position in BanColombia by 527.0% during the first quarter. Millennium Management LLC now owns 316,877 shares of the bank's stock worth $12,738,000 after buying an additional 266,341 shares during the period. Cubist Systematic Strategies LLC lifted its position in BanColombia by 176.6% during the first quarter. Cubist Systematic Strategies LLC now owns 239,710 shares of the bank's stock worth $9,636,000 after buying an additional 153,058 shares during the period. Voloridge Investment Management LLC increased its stake in BanColombia by 143.4% during the fourth quarter. Voloridge Investment Management LLC now owns 190,469 shares of the bank's stock worth $6,002,000 after acquiring an additional 112,208 shares during the last quarter. Finally, Northern Trust Corp increased its stake in BanColombia by 190.9% during the fourth quarter. Northern Trust Corp now owns 138,083 shares of the bank's stock worth $4,351,000 after acquiring an additional 90,616 shares during the last quarter.

BanColombia Stock Performance

Shares of CIB traded up $0.37 during mid-day trading on Friday, hitting $51.93. The stock had a trading volume of 397,013 shares, compared to its average volume of 309,956. The company has a market cap of $12.49 billion, a PE ratio of 7.88, a PEG ratio of 1.02 and a beta of 0.97. BanColombia S.A. has a fifty-two week low of $30.65 and a fifty-two week high of $53.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.29. The company's fifty day simple moving average is $48.25 and its two-hundred day simple moving average is $44.17.

BanColombia (NYSE:CIB - Get Free Report) last announced its earnings results 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 return on equity of 19.77% and a net margin of 15.30%.The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.75 billion. On average, equities analysts expect that BanColombia S.A. will post 6 earnings per share for the current year.

Analysts Set New Price Targets

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