Bancolombia S.A. (NYSE:CIB) Stake Trimmed by Boston Common Asset Management LLC

Boston Common Asset Management LLC lowered its stake in Bancolombia S.A. (NYSE:CIB) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,852 shares of the bank’s stock after selling 2,612 shares during the quarter. Boston Common Asset Management LLC owned approximately 0.08% of Bancolombia worth $5,958,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CIB. Virtus Investment Advisers Inc. purchased a new position in Bancolombia in the 1st quarter worth about $89,000. V Square Quantitative Management LLC purchased a new position in Bancolombia during the 4th quarter valued at about $117,000. Signaturefd LLC grew its stake in Bancolombia by 10.6% during the 2nd quarter. Signaturefd LLC now owns 5,053 shares of the bank’s stock valued at $165,000 after acquiring an additional 484 shares in the last quarter. AXA S.A. purchased a new position in Bancolombia during the 2nd quarter valued at about $192,000. Finally, QRG Capital Management Inc. purchased a new position in Bancolombia during the 1st quarter valued at about $260,000.

Bancolombia Price Performance

Shares of Bancolombia stock opened at $31.82 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.40. Bancolombia S.A. has a 52-week low of $24.74 and a 52-week high of $37.85. The stock has a 50-day simple moving average of $32.30 and a 200-day simple moving average of $33.47.

Bancolombia (NYSE:CIB) last announced its quarterly earnings results on Thursday, August 8th. The bank reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.01. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.82 billion. Bancolombia had a return on equity of 15.68% and a net margin of 13.73%. On average, research analysts anticipate that Bancolombia S.A. will post 5.99 EPS for the current fiscal year.

Bancolombia Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.8456 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.38 annualized dividend and a yield of 10.63%. Bancolombia’s dividend payout ratio (DPR) is currently 52.28%.

Analysts Set New Price Targets

Several equities analysts have weighed in on CIB shares. JPMorgan Chase & Co. lowered their target price on Bancolombia from $36.00 to $35.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. The Goldman Sachs Group cut Bancolombia from a “neutral” rating to a “sell” rating and lowered their target price for the company from $34.00 to $32.00 in a research note on Tuesday, August 20th. Finally, Bank of America cut Bancolombia from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $38.00 to $34.00 in a research note on Thursday, August 29th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat.com, Bancolombia presently has an average rating of “Reduce” and a consensus price target of $32.40.

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.