Raymond James Financial Inc. Acquires New Shares in Bancolombia S.A. (NYSE:CIB)

Raymond James Financial Inc. acquired a new stake in Bancolombia S.A. (NYSE:CIB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 98,524 shares of the bank's stock, valued at approximately $3,104,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Bancolombia by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 3,099,224 shares of the bank's stock worth $97,657,000 after purchasing an additional 19,499 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Bancolombia by 12.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 928,679 shares of the bank's stock valued at $29,263,000 after buying an additional 102,015 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Bancolombia by 40.0% during the fourth quarter. JPMorgan Chase & Co. now owns 484,281 shares of the bank's stock valued at $15,260,000 after buying an additional 138,461 shares during the last quarter. Amundi grew its holdings in shares of Bancolombia by 2.1% during the fourth quarter. Amundi now owns 362,391 shares of the bank's stock valued at $11,741,000 after buying an additional 7,386 shares during the last quarter. Finally, Truffle Hound Capital LLC bought a new position in Bancolombia in the 4th quarter valued at about $11,028,000.

Bancolombia Stock Performance

Shares of NYSE CIB traded up $0.58 during midday trading on Friday, reaching $41.08. The company's stock had a trading volume of 203,601 shares, compared to its average volume of 312,715. The stock has a market capitalization of $9.88 billion, a P/E ratio of 6.52, a PEG ratio of 2.47 and a beta of 0.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.05 and a quick ratio of 1.00. The firm has a 50 day moving average price of $41.00 and a 200-day moving average price of $36.62. Bancolombia S.A. has a 12-month low of $30.25 and a 12-month high of $44.93.

Bancolombia (NYSE:CIB - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The bank reported $1.57 EPS for the quarter, topping the consensus estimate of $1.35 by $0.22. Bancolombia had a net margin of 14.14% and a return on equity of 14.61%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.41 billion. As a group, equities analysts predict that Bancolombia S.A. will post 6 earnings per share for the current year.

Bancolombia Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, May 9th. Investors of record on Tuesday, April 29th will be paid a $0.5745 dividend. This is a boost from Bancolombia's previous dividend of $0.30. This represents a yield of 17.13%. The ex-dividend date of this dividend is Monday, April 28th. Bancolombia's payout ratio is currently 107.46%.

Analyst Upgrades and Downgrades

CIB has been the subject of several analyst reports. The Goldman Sachs Group increased their price objective on Bancolombia from $31.00 to $35.00 and gave the stock a "sell" rating in a research note on Monday, February 24th. Morgan Stanley raised shares of Bancolombia from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $40.00 to $53.00 in a report on Tuesday, January 28th.

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.