Short Interest in Bancolombia S.A. (NYSE:CIB) Decreases By 20.9%

Bancolombia S.A. (NYSE:CIB) was the recipient of a large decrease in short interest in January. As of January 15th, there was short interest totalling 190,700 shares, a decrease of 20.9% from the December 31st total of 241,200 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 230,500 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans raised its holdings in shares of Bancolombia by 671.2% during the second quarter. Thrivent Financial for Lutherans now owns 62,201 shares of the bank’s stock valued at $2,031,000 after acquiring an additional 54,136 shares during the period. AXA S.A. purchased a new position in Bancolombia during the 2nd quarter worth approximately $192,000. APG Asset Management N.V. lifted its holdings in shares of Bancolombia by 23.7% in the second quarter. APG Asset Management N.V. now owns 23,200 shares of the bank’s stock valued at $707,000 after purchasing an additional 4,440 shares in the last quarter. Creative Planning boosted its position in shares of Bancolombia by 84.2% in the second quarter. Creative Planning now owns 17,807 shares of the bank’s stock worth $581,000 after buying an additional 8,141 shares during the period. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in shares of Bancolombia during the second quarter valued at $359,000.

Analysts Set New Price Targets

Separately, Morgan Stanley raised shares of Bancolombia from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $53.00 in a research report on Tuesday.

Bancolombia Price Performance

NYSE:CIB traded down $0.43 during midday trading on Thursday, hitting $39.87. 622,821 shares of the stock were exchanged, compared to its average volume of 469,264. The business has a 50-day moving average price of $33.08 and a two-hundred day moving average price of $32.64. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 6.32, a P/E/G ratio of 1.87 and a beta of 1.20. Bancolombia has a one year low of $30.25 and a one year high of $40.62.

Bancolombia Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were issued a $0.8044 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 8.07%. Bancolombia’s payout ratio is currently 50.71%.

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.