Truffle Hound Capital LLC Invests $11.03 Million in Bancolombia S.A. (NYSE:CIB)

Truffle Hound Capital LLC purchased a new position in Bancolombia S.A. (NYSE:CIB) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 350,000 shares of the bank’s stock, valued at approximately $11,028,000. Bancolombia comprises about 3.9% of Truffle Hound Capital LLC’s investment portfolio, making the stock its 3rd biggest holding.

Several other large investors have also recently modified their holdings of CIB. Wellington Management Group LLP purchased a new position in shares of Bancolombia in the 3rd quarter worth about $8,208,000. Raymond James Financial Inc. purchased a new position in shares of Bancolombia in the 4th quarter worth about $3,104,000. Public Employees Retirement System of Ohio purchased a new position in shares of Bancolombia in the 3rd quarter worth about $2,667,000. Moneda S.A. Administradora General de Fondos purchased a new position in shares of Bancolombia in the 4th quarter worth about $2,218,000. Finally, Walleye Capital LLC purchased a new position in shares of Bancolombia in the 3rd quarter worth about $1,250,000.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Morgan Stanley raised Bancolombia from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $53.00 in a research report on Tuesday, January 28th. The Goldman Sachs Group boosted their target price on Bancolombia from $31.00 to $35.00 and gave the stock a “sell” rating in a research report on Monday, February 24th.

Bancolombia Price Performance

Shares of NYSE:CIB opened at $42.61 on Friday. The business has a 50-day simple moving average of $39.51 and a two-hundred day simple moving average of $34.74. The firm has a market cap of $10.25 billion, a price-to-earnings ratio of 6.76, a price-to-earnings-growth ratio of 2.47 and a beta of 1.22. Bancolombia S.A. has a fifty-two week low of $30.25 and a fifty-two week high of $44.25. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.05.

Bancolombia (NYSE:CIB) last released its quarterly earnings results on Thursday, February 20th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.22. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.41 billion. Bancolombia had a return on equity of 14.61% and a net margin of 14.14%. On average, analysts expect that Bancolombia S.A. will post 6 earnings per share for the current year.

Bancolombia Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be paid a dividend of $3.8119 per share. This is an increase from Bancolombia’s previous quarterly dividend of $0.80. This represents a $15.25 dividend on an annualized basis and a dividend yield of 35.78%. The ex-dividend date is Monday, March 31st. Bancolombia’s payout ratio is currently 50.79%.

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.