QRG Capital Management Inc. Cuts Holdings in Bancolombia S.A. (NYSE:CIB)

QRG Capital Management Inc. cut its holdings in Bancolombia S.A. (NYSE:CIB) by 2.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 14,476 shares of the bank’s stock after selling 335 shares during the quarter. QRG Capital Management Inc.’s holdings in Bancolombia were worth $456,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CIB. US Bancorp DE lifted its holdings in Bancolombia by 18.9% in the third quarter. US Bancorp DE now owns 5,282 shares of the bank’s stock valued at $166,000 after acquiring an additional 839 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Bancolombia by 12.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,323,482 shares of the bank’s stock valued at $41,531,000 after purchasing an additional 150,022 shares in the last quarter. AIA Group Ltd acquired a new stake in shares of Bancolombia in the third quarter valued at about $246,000. Venturi Wealth Management LLC purchased a new stake in Bancolombia during the third quarter worth about $27,000. Finally, Thrivent Financial for Lutherans grew its position in Bancolombia by 13.6% during the third quarter. Thrivent Financial for Lutherans now owns 70,678 shares of the bank’s stock worth $2,218,000 after buying an additional 8,477 shares during the period.

Bancolombia Price Performance

Shares of NYSE CIB opened at $41.98 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average price is $36.89 and its 200 day moving average price is $33.94. Bancolombia S.A. has a 52 week low of $30.25 and a 52 week high of $44.25. The stock has a market cap of $10.09 billion, a price-to-earnings ratio of 6.66, a PEG ratio of 2.47 and a beta of 1.22.

Bancolombia (NYSE:CIB) last released its quarterly earnings results on Thursday, February 20th. The bank reported $1.57 EPS for the quarter, beating the consensus estimate of $1.35 by $0.22. Bancolombia had a net margin of 14.14% and a return on equity of 14.61%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.41 billion. As a group, research analysts forecast that Bancolombia S.A. will post 6 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on CIB. Morgan Stanley upgraded shares of Bancolombia from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $40.00 to $53.00 in a research report on Tuesday, January 28th. The Goldman Sachs Group raised their price objective on Bancolombia from $31.00 to $35.00 and gave the company a “sell” rating in a research note on Monday, February 24th.

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.