Atlas Capital Advisors LLC Boosts Stake in Bancolombia S.A. (NYSE:CIB)

Atlas Capital Advisors LLC lifted its stake in shares of Bancolombia S.A. (NYSE:CIB) by 578.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 12,368 shares of the bank’s stock after purchasing an additional 10,544 shares during the quarter. Atlas Capital Advisors LLC’s holdings in Bancolombia were worth $423,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Parallel Advisors LLC lifted its position in Bancolombia by 164.9% during the 4th quarter. Parallel Advisors LLC now owns 2,069 shares of the bank’s stock worth $64,000 after acquiring an additional 1,288 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Bancolombia during the fourth quarter worth about $117,000. Barometer Capital Management Inc. purchased a new stake in Bancolombia in the fourth quarter valued at approximately $123,000. Signaturefd LLC increased its holdings in Bancolombia by 26.1% in the 4th quarter. Signaturefd LLC now owns 4,425 shares of the bank’s stock worth $136,000 after buying an additional 916 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in Bancolombia by 107.9% in the 4th quarter. Quadrant Capital Group LLC now owns 6,313 shares of the bank’s stock worth $194,000 after buying an additional 3,277 shares during the period.

Analyst Ratings Changes

CIB has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on shares of Bancolombia from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. Bank of America assumed coverage on Bancolombia in a research report on Thursday, May 2nd. They set a “neutral” rating and a $38.00 price target on the stock. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $33.12.

Bancolombia Price Performance

CIB opened at $32.20 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average price of $34.16 and a 200 day moving average price of $32.98. Bancolombia S.A. has a 1 year low of $24.15 and a 1 year high of $37.85.

Bancolombia (NYSE:CIB) last posted its earnings results on Thursday, May 9th. The bank reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.33. Bancolombia had a net margin of 13.64% and a return on equity of 17.33%. The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the prior year, the company posted $1.54 EPS. On average, research analysts anticipate that Bancolombia S.A. will post 5.98 earnings per share for the current year.

Bancolombia Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Thursday, June 27th will be given a $0.898 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This is a boost from Bancolombia’s previous quarterly dividend of $0.81. This represents a $3.59 dividend on an annualized basis and a dividend yield of 11.16%. Bancolombia’s payout ratio is 56.92%.

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.