Renaissance Technologies LLC Has $4.55 Million Position in Bancolombia S.A. (NYSE:CIB)

Renaissance Technologies LLC grew its holdings in Bancolombia S.A. (NYSE:CIB) by 117.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,200 shares of the bank’s stock after purchasing an additional 75,100 shares during the quarter. Renaissance Technologies LLC owned about 0.06% of Bancolombia worth $4,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Bancolombia Trading Down 0.6 %

Shares of CIB stock opened at $31.97 on Friday. Bancolombia S.A. has a 52-week low of $24.15 and a 52-week high of $37.85. The company has a 50-day simple moving average of $32.60 and a two-hundred day simple moving average of $33.58. The company has a market capitalization of $7.69 billion, a price-to-earnings ratio of 5.03, a PEG ratio of 3.25 and a beta of 1.23. 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 announced its quarterly earnings data 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 firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.82 billion. Bancolombia had a return on equity of 15.68% and a net margin of 13.73%. Research analysts anticipate that Bancolombia S.A. will post 5.99 EPS for the current fiscal year.

Bancolombia Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a $0.8456 dividend. This represents a $3.38 dividend on an annualized basis and a yield of 10.58%. The ex-dividend date is Friday, September 27th. Bancolombia’s payout ratio is 53.14%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Bancolombia from $36.00 to $35.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. The Goldman Sachs Group downgraded 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 cut shares of Bancolombia from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $38.00 to $34.00 in a report on Thursday, August 29th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat, Bancolombia presently has a consensus rating of “Reduce” and an average price target of $32.40.

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.