Creative Planning Cuts Holdings in Bancolombia S.A. (NYSE:CIB)

Creative Planning reduced its position in Bancolombia S.A. (NYSE:CIB) by 28.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 12,739 shares of the bank’s stock after selling 5,068 shares during the period. Creative Planning’s holdings in Bancolombia were worth $400,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CIB. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Bancolombia by 45.3% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,412,322 shares of the bank’s stock worth $46,112,000 after purchasing an additional 440,026 shares during the last quarter. M&G Plc purchased a new stake in shares of Bancolombia during the first quarter valued at $10,299,000. Swedbank AB purchased a new stake in shares of Bancolombia during the first quarter valued at $9,260,000. Russell Investments Group Ltd. purchased a new stake in shares of Bancolombia during the first quarter valued at $8,248,000. Finally, Moneda S.A. Administradora General de Fondos purchased a new stake in shares of Bancolombia during the second quarter valued at $5,756,000.

Wall Street Analysts Forecast Growth

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

Bancolombia Price Performance

NYSE CIB opened at $32.82 on Friday. The company has a fifty day moving average of $32.04 and a 200 day moving average of $33.10. Bancolombia S.A. has a 1 year low of $26.38 and a 1 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 posted its earnings results on Thursday, August 8th. The bank reported $1.44 earnings per share (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 the consensus estimate of $1.82 billion. Bancolombia had a net margin of 13.73% and a return on equity of 15.68%. On average, research analysts anticipate that Bancolombia S.A. will post 5.99 earnings per share for the current fiscal year.

Bancolombia Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.8456 per share. The ex-dividend date was Friday, September 27th. This represents a $3.38 dividend on an annualized basis and a yield of 10.31%. Bancolombia’s dividend payout ratio is presently 52.28%.

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.