Ballentine Partners LLC Cuts Holdings in Bancolombia S.A. (NYSE:CIB)

Ballentine Partners LLC lessened its stake in Bancolombia S.A. (NYSE:CIB) by 8.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,529 shares of the bank’s stock after selling 968 shares during the period. Ballentine Partners LLC’s holdings in Bancolombia were worth $330,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Earnest Partners LLC grew its stake in Bancolombia by 4.4% in the 1st quarter. Earnest Partners LLC now owns 2,624,263 shares of the bank’s stock worth $89,802,000 after buying an additional 110,845 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Bancolombia by 45.3% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,412,322 shares of the bank’s stock worth $46,112,000 after acquiring an additional 440,026 shares during the last quarter. M&G Plc bought a new stake in shares of Bancolombia in the 1st quarter worth approximately $10,299,000. Swedbank AB bought a new stake in shares of Bancolombia in the 1st quarter worth approximately $9,260,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Bancolombia in the 1st quarter worth approximately $8,248,000.

Bancolombia Trading Up 0.9 %

NYSE:CIB opened at $31.60 on Tuesday. The company has a fifty day moving average of $32.20 and a 200 day moving average of $33.17. Bancolombia S.A. has a 52 week low of $25.03 and a 52 week high of $37.85. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $7.60 billion, a P/E ratio of 4.97, a P/E/G ratio of 3.16 and a beta of 1.23.

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

Bancolombia Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a dividend of $0.8456 per share. This represents a $3.38 dividend on an annualized basis and a yield of 10.70%. The ex-dividend date was Friday, September 27th. Bancolombia’s payout ratio is currently 52.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CIB shares. JPMorgan Chase & Co. lowered their price objective on shares of Bancolombia from $36.00 to $35.00 and set an “underweight” rating for the company in a report on Monday, August 12th. The Goldman Sachs Group lowered shares of Bancolombia from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $34.00 to $32.00 in a report on Tuesday, August 20th. Finally, Bank of America lowered shares of Bancolombia from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $38.00 to $34.00 in a report on Thursday, August 29th.

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.