Bancolombia S.A. (NYSE:CIB) Sees Large Increase in Short Interest

Bancolombia S.A. (NYSE:CIB) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 295,800 shares, an increase of 10.4% from the August 31st total of 268,000 shares. Based on an average daily trading volume, of 241,800 shares, the short-interest ratio is currently 1.2 days. Currently, 0.3% of the shares of the company are sold short.

Institutional Investors Weigh In On Bancolombia

Several large investors have recently modified their holdings of the company. Stokes Family Office LLC increased its position in shares of Bancolombia by 1.9% during the second quarter. Stokes Family Office LLC now owns 25,883 shares of the bank’s stock worth $845,000 after buying an additional 473 shares during the period. Signaturefd LLC increased its position in shares of Bancolombia by 10.6% during the second quarter. Signaturefd LLC now owns 5,053 shares of the bank’s stock worth $165,000 after buying an additional 484 shares during the period. PNC Financial Services Group Inc. boosted its stake in Bancolombia by 6.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,644 shares of the bank’s stock worth $297,000 after acquiring an additional 599 shares in the last quarter. Parallel Advisors LLC boosted its stake in Bancolombia by 164.9% during the fourth quarter. Parallel Advisors LLC now owns 2,069 shares of the bank’s stock worth $64,000 after acquiring an additional 1,288 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Bancolombia by 17.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,323 shares of the bank’s stock worth $432,000 after acquiring an additional 1,948 shares in the last quarter.

Analyst Ratings Changes

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

Bancolombia Price Performance

Shares of Bancolombia stock traded down $0.14 on Tuesday, reaching $31.24. 307,372 shares of the stock were exchanged, compared to its average volume of 268,169. The firm’s 50 day moving average is $32.55 and its 200-day moving average is $33.59. The firm has a market cap of $7.51 billion, a PE ratio of 4.91, a P/E/G ratio of 3.25 and a beta of 1.23. Bancolombia has a one year low of $24.15 and a one year high of $37.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.03 and a current ratio of 1.03.

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

Bancolombia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.8456 per share. This represents a $3.38 annualized dividend and a dividend yield of 10.83%. The ex-dividend date of this dividend is Friday, September 27th. Bancolombia’s dividend payout ratio (DPR) is presently 53.14%.

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.