Bancolombia S.A. (NYSE:CIB) Short Interest Up 48.7% in June

Bancolombia S.A. (NYSE:CIB) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 543,700 shares, an increase of 48.7% from the May 31st total of 365,700 shares. Based on an average daily volume of 290,400 shares, the days-to-cover ratio is currently 1.9 days.

Hedge Funds Weigh In On Bancolombia

Several hedge funds have recently bought and sold shares of the company. Earnest Partners LLC grew its position in Bancolombia by 4.4% in the 1st quarter. Earnest Partners LLC now owns 2,624,263 shares of the bank’s stock valued at $89,802,000 after acquiring an additional 110,845 shares in the last quarter. C Partners Holding GmbH grew its holdings in shares of Bancolombia by 7.5% in the fourth quarter. C Partners Holding GmbH now owns 818,496 shares of the bank’s stock valued at $25,185,000 after purchasing an additional 56,977 shares in the last quarter. Sei Investments Co. increased its stake in Bancolombia by 16.3% during the 3rd quarter. Sei Investments Co. now owns 686,161 shares of the bank’s stock worth $18,307,000 after buying an additional 96,247 shares during the period. INCA Investments LLC lifted its holdings in Bancolombia by 21.9% during the 4th quarter. INCA Investments LLC now owns 518,072 shares of the bank’s stock worth $15,941,000 after buying an additional 93,238 shares in the last quarter. Finally, M&G Plc purchased a new position in Bancolombia in the 1st quarter valued at approximately $10,299,000.

Bancolombia Trading Up 0.7 %

Shares of NYSE CIB traded up $0.24 during mid-day trading on Monday, reaching $32.89. 20,313 shares of the company’s stock were exchanged, compared to its average volume of 285,839. The company’s 50-day moving average is $34.16 and its 200-day moving average is $33.08. Bancolombia has a 52-week low of $24.15 and a 52-week high of $37.85. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.04 and a current ratio of 1.04.

Bancolombia (NYSE:CIB) last posted its quarterly earnings data on Thursday, May 9th. The bank reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.33. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Bancolombia had a net margin of 13.64% and a return on equity of 17.33%. During the same quarter last year, the company posted $1.54 EPS. As a group, analysts forecast that Bancolombia will post 5.98 earnings per share for the current year.

Bancolombia Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Thursday, June 27th will be issued a $0.898 dividend. This represents a $3.59 annualized dividend and a dividend yield of 10.92%. The ex-dividend date of this dividend is Thursday, June 27th. This is an increase from Bancolombia’s previous quarterly dividend of $0.81. Bancolombia’s payout ratio is currently 56.45%.

Analyst Ratings Changes

Several research analysts have recently commented on CIB shares. Bank of America began coverage on Bancolombia in a report on Thursday, May 2nd. They set a “neutral” rating and a $38.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on shares of Bancolombia from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $33.12.

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.