Ballentine Partners LLC Sells 1,589 Shares of Bancolombia S.A. (NYSE:CIB)

Ballentine Partners LLC lessened its holdings in Bancolombia S.A. (NYSE:CIB) by 12.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,497 shares of the bank’s stock after selling 1,589 shares during the period. Ballentine Partners LLC’s holdings in Bancolombia were worth $375,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CIB. Parallel Advisors LLC increased its holdings in Bancolombia by 164.9% during the fourth quarter. Parallel Advisors LLC now owns 2,069 shares of the bank’s stock valued at $64,000 after buying an additional 1,288 shares during the last quarter. Virtus Investment Advisers Inc. purchased a new stake in shares of Bancolombia in the 1st quarter worth $89,000. V Square Quantitative Management LLC bought a new position in Bancolombia in the 4th quarter worth $117,000. Barometer Capital Management Inc. purchased a new position in Bancolombia during the fourth quarter valued at $123,000. Finally, Signaturefd LLC grew its holdings in Bancolombia by 10.6% during the second quarter. Signaturefd LLC now owns 5,053 shares of the bank’s stock valued at $165,000 after purchasing an additional 484 shares during the period.

Bancolombia Stock Performance

NYSE CIB opened at $31.13 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.40. Bancolombia S.A. has a twelve month low of $24.15 and a twelve month high of $37.85. The business has a 50-day moving average price of $33.00 and a 200-day moving average price of $33.66.

Bancolombia (NYSE:CIB) last posted its quarterly earnings results on Thursday, August 8th. The bank reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.01. Bancolombia had a return on equity of 15.68% and a net margin of 13.73%. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Equities analysts predict that Bancolombia S.A. will post 5.99 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Bank of America downgraded Bancolombia from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $38.00 to $34.00 in a research note on Thursday, August 29th. The Goldman Sachs Group cut shares of Bancolombia from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $34.00 to $32.00 in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Bancolombia from $36.00 to $35.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $32.40.

Bancolombia 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.