Bancolombia S.A. (NYSE:CIB) Short Interest Update

Bancolombia S.A. (NYSE:CIB) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 175,700 shares, an increase of 8.7% from the October 15th total of 161,600 shares. Based on an average daily volume of 250,900 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.2% of the shares of the company are short sold.

Bancolombia Stock Up 1.0 %

CIB stock traded up $0.30 during trading on Friday, reaching $31.78. 303,659 shares of the company were exchanged, compared to its average volume of 233,611. Bancolombia has a 52-week low of $26.72 and a 52-week high of $37.85. The stock’s 50 day moving average price is $31.91 and its 200 day moving average price is $33.07. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.34.

Bancolombia Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.8456 per share. This represents a $3.38 dividend on an annualized basis and a yield of 10.64%. The ex-dividend date of this dividend was Friday, September 27th. Bancolombia’s dividend payout ratio is currently 52.61%.

Institutional Trading of Bancolombia

A number of institutional investors have recently added to or reduced their stakes in the stock. Earnest Partners LLC lifted its holdings in shares of Bancolombia by 4.4% in the first quarter. Earnest Partners LLC now owns 2,624,263 shares of the bank’s stock valued at $89,802,000 after purchasing an additional 110,845 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Bancolombia by 45.3% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,412,322 shares of the bank’s stock valued at $46,112,000 after purchasing an additional 440,026 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Bancolombia by 12.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,323,482 shares of the bank’s stock valued at $41,531,000 after purchasing an additional 150,022 shares in the last quarter. Swedbank AB acquired a new position in shares of Bancolombia in the first quarter valued at approximately $9,260,000. Finally, Wellington Management Group LLP acquired a new position in shares of Bancolombia in the third quarter valued at approximately $8,208,000.

Analyst Ratings Changes

A number of research analysts have commented on the stock. The Goldman Sachs Group lowered shares of Bancolombia from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $34.00 to $32.00 in a research note on Tuesday, August 20th. JPMorgan Chase & Co. lowered their target price on shares of Bancolombia from $36.00 to $35.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Finally, Bank of America downgraded shares of 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 report on Thursday, August 29th.

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.