Russell Investments Group Ltd. Sells 5,646 Shares of Bancolombia S.A. (NYSE:CIB)

Russell Investments Group Ltd. decreased its stake in shares of Bancolombia S.A. (NYSE:CIB) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 280,522 shares of the bank’s stock after selling 5,646 shares during the quarter. Russell Investments Group Ltd. owned about 0.12% of Bancolombia worth $8,839,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in 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 increased its holdings 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 worth $29,263,000 after purchasing an additional 102,015 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Bancolombia by 40.0% in the fourth quarter. JPMorgan Chase & Co. now owns 484,281 shares of the bank’s stock worth $15,260,000 after buying an additional 138,461 shares in the last quarter. Amundi boosted its stake in 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 during the fourth quarter valued at approximately $11,028,000.

Bancolombia Trading Up 3.7 %

Shares of CIB stock opened at $37.83 on Friday. The company has a market cap of $9.10 billion, a PE ratio of 6.01, a price-to-earnings-growth ratio of 2.47 and a beta of 0.85. Bancolombia S.A. has a 1 year low of $30.25 and a 1 year high of $44.93. The stock’s 50 day simple moving average is $41.20 and its two-hundred day simple moving average is $35.72. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.05 and a quick ratio of 1.00.

Bancolombia (NYSE:CIB) last released its earnings results on Thursday, February 20th. The bank reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.22. The firm had revenue of $1.65 billion for 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%. Research analysts predict that Bancolombia S.A. will post 6 earnings per share for the current year.

Bancolombia Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Monday, March 31st were paid a $3.8119 dividend. The ex-dividend date was Monday, March 31st. This represents a $15.25 annualized dividend and a dividend yield of 40.30%. This is an increase from Bancolombia’s previous quarterly dividend of $0.80. Bancolombia’s dividend payout ratio is currently 235.56%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CIB shares. Morgan Stanley raised Bancolombia from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $40.00 to $53.00 in a report on Tuesday, January 28th. The Goldman Sachs Group upped their price target on shares of Bancolombia from $31.00 to $35.00 and gave the company a “sell” rating in a research note on Monday, February 24th.

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.