Walleye Capital LLC Grows Position in BanColombia S.A. $CIB

Key Points

• Walleye Capital LLC increased its stake in BanColombia S.A. by 7.3%, acquiring an additional 6,113 shares during the first quarter, bringing its total holdings to $3.62 million.
• BanColombia reported earnings of $1.79 per share, exceeding estimates, with a revenue of $1.80 billion for the quarter, showing strong financial performance.
• Bank of America upgraded BanColombia from an "underperform" to a "neutral" rating and raised the price target from $41.00 to $49.00 following the recent earnings results.

Walleye Capital LLC lifted its position in BanColombia S.A. (NYSE:CIB - Free Report) by 7.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,010 shares of the bank's stock after acquiring an additional 6,113 shares during the quarter. Walleye Capital LLC's holdings in BanColombia were worth $3,618,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CIB. QRG Capital Management Inc. raised its holdings in BanColombia by 9.4% in the first quarter. QRG Capital Management Inc. now owns 15,840 shares of the bank's stock worth $637,000 after purchasing an additional 1,364 shares in the last quarter. Northern Trust Corp raised its holdings in BanColombia by 190.9% in the fourth quarter. Northern Trust Corp now owns 138,083 shares of the bank's stock worth $4,351,000 after purchasing an additional 90,616 shares in the last quarter. Aberdeen Group plc bought a new position in BanColombia in the first quarter worth about $201,000. Bank of America Corp DE raised its holdings in BanColombia by 13.3% in the fourth quarter. Bank of America Corp DE now owns 169,661 shares of the bank's stock worth $5,346,000 after purchasing an additional 19,960 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in BanColombia by 4,011.7% in the first quarter. GAMMA Investing LLC now owns 32,441 shares of the bank's stock worth $1,304,000 after purchasing an additional 31,652 shares in the last quarter.

BanColombia Stock Performance

NYSE CIB traded up $0.60 during trading hours on Monday, reaching $50.40. The stock had a trading volume of 250,142 shares, compared to its average volume of 331,827. The stock has a fifty day moving average of $46.30 and a 200 day moving average of $43.18. The stock has a market cap of $12.12 billion, a P/E ratio of 7.65, a price-to-earnings-growth ratio of 1.01 and a beta of 0.96. BanColombia S.A. has a 52-week low of $30.65 and a 52-week high of $50.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.00 and a current ratio of 1.00.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CIB shares. Bank of America upgraded shares of BanColombia from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $41.00 to $49.00 in a report on Thursday, August 7th. UBS Group restated a "neutral" rating and set a $38.00 price objective (up previously from $35.00) on shares of BanColombia in a report on Monday, June 2nd. Finally, Zacks Research downgraded shares of BanColombia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, BanColombia has a consensus rating of "Hold" and an average price target of $43.75.

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.