PNC Financial Services Group Inc. Buys 599 Shares of Bancolombia S.A. (NYSE:CIB)

PNC Financial Services Group Inc. increased its holdings in Bancolombia S.A. (NYSE:CIB) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,644 shares of the bank’s stock after purchasing an additional 599 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Bancolombia were worth $297,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. BSW Wealth Partners increased its position in shares of Bancolombia by 4.8% during the fourth quarter. BSW Wealth Partners now owns 13,619 shares of the bank’s stock valued at $419,000 after buying an additional 623 shares during the period. Citigroup Inc. grew its holdings in shares of Bancolombia by 4.9% during the 3rd quarter. Citigroup Inc. now owns 14,297 shares of the bank’s stock worth $381,000 after acquiring an additional 668 shares during the period. Signaturefd LLC raised its position in shares of Bancolombia by 26.1% in the 4th quarter. Signaturefd LLC now owns 4,425 shares of the bank’s stock worth $136,000 after acquiring an additional 916 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Bancolombia by 14.2% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 9,729 shares of the bank’s stock valued at $299,000 after purchasing an additional 1,208 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of Bancolombia by 164.9% in the 4th quarter. Parallel Advisors LLC now owns 2,069 shares of the bank’s stock valued at $64,000 after purchasing an additional 1,288 shares during the period.

Bancolombia Price Performance

Bancolombia stock opened at $32.65 on Monday. Bancolombia S.A. has a 12 month low of $24.15 and a 12 month high of $37.85. The business’s fifty day simple moving average is $34.16 and its two-hundred day simple moving average is $33.08. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.04 and a quick ratio of 1.04.

Bancolombia (NYSE:CIB) last announced its quarterly earnings results on Thursday, May 9th. The bank reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.33. The company had revenue of $2.81 billion for 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 in the previous year, the business posted $1.54 EPS. Equities analysts expect that Bancolombia S.A. will post 5.98 earnings per share for the current year.

Bancolombia Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Thursday, June 27th will be paid a dividend of $0.898 per share. This represents a $3.59 annualized dividend and a yield of 11.00%. This is an increase from Bancolombia’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Thursday, June 27th. Bancolombia’s dividend payout ratio (DPR) is currently 56.45%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Bank of America initiated coverage on Bancolombia in a report on Thursday, May 2nd. They issued a “neutral” rating and a $38.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on shares of Bancolombia from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, Bancolombia presently has a consensus rating of “Hold” and a consensus 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.