Vanguard Group Inc. Sells 32,633 Shares of BanColombia S.A. $CIB

Key Points

• Vanguard Group Inc. reduced its stake in BanColombia S.A. by 1.1%, leaving them with approximately 3.07 million shares, valued at about $123 million.
• Analysts have recently adjusted price targets for BanColombia, with Bank of America raising its target from $41 to $49 and UBS increasing its target to $38.
• BanColombia reported a quarterly earnings per share of $1.79, exceeding expectations, with a total revenue of $1.80 billion for the quarter.

Vanguard Group Inc. trimmed its position in shares of BanColombia S.A. (NYSE:CIB - Free Report) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,066,591 shares of the bank's stock after selling 32,633 shares during the quarter. Vanguard Group Inc. owned approximately 1.28% of BanColombia worth $123,277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Laird Norton Wetherby Wealth Management LLC grew its holdings in BanColombia by 7.5% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 9,628 shares of the bank's stock worth $303,000 after acquiring an additional 668 shares during the last quarter. US Bancorp DE lifted its position in shares of BanColombia by 14.3% during the first quarter. US Bancorp DE now owns 6,394 shares of the bank's stock worth $257,000 after purchasing an additional 800 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position 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 worth $247,000 after purchasing an additional 1,085 shares in the last quarter. QRG Capital Management Inc. grew its stake in shares of BanColombia by 9.4% during the first 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 during the last quarter. Finally, Ballentine Partners LLC increased its holdings in shares of BanColombia by 36.3% in the first quarter. Ballentine Partners LLC now owns 15,279 shares of the bank's stock valued at $614,000 after purchasing an additional 4,070 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CIB shares. UBS Group restated a "neutral" rating and issued a $38.00 price objective (up previously from $35.00) on shares of BanColombia in a research report on Monday, June 2nd. Bank of America upgraded BanColombia from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $41.00 to $49.00 in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, BanColombia presently has an average rating of "Hold" and a consensus target price of $43.75.

BanColombia Trading Up 0.2%

NYSE CIB traded up $0.0920 during trading hours on Friday, hitting $49.9020. The company's stock had a trading volume of 240,687 shares, compared to its average volume of 350,220. BanColombia S.A. has a twelve month low of $30.65 and a twelve month high of $50.60. The firm has a market capitalization of $12.00 billion, a P/E ratio of 7.57, a PEG ratio of 1.00 and a beta of 0.92. 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 stock has a fifty day moving average of $45.60 and a 200 day moving average of $42.81.

BanColombia (NYSE:CIB - Get Free Report) last posted its earnings results on Thursday, August 7th. The bank reported $1.79 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.75 billion. Equities research analysts forecast that BanColombia S.A. will post 6 earnings per share for the current fiscal year.

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.