American Century Companies Inc. Has $2.57 Million Stake in Bancolombia S.A. (NYSE:CIB)

American Century Companies Inc. grew its stake in Bancolombia S.A. (NYSE:CIB) by 5.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,631 shares of the bank’s stock after purchasing an additional 4,233 shares during the quarter. American Century Companies Inc.’s holdings in Bancolombia were worth $2,567,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Moneda S.A. Administradora General de Fondos bought a new position in Bancolombia during the 2nd quarter valued at $5,756,000. Signaturefd LLC raised its holdings in shares of Bancolombia by 10.6% in the second quarter. Signaturefd LLC now owns 5,053 shares of the bank’s stock valued at $165,000 after purchasing an additional 484 shares during the last quarter. Liontrust Investment Partners LLP lifted its position in shares of Bancolombia by 21.7% during the second quarter. Liontrust Investment Partners LLP now owns 28,000 shares of the bank’s stock valued at $914,000 after purchasing an additional 5,000 shares in the last quarter. Summit Global Investments boosted its holdings in Bancolombia by 228.3% during the second quarter. Summit Global Investments now owns 146,944 shares of the bank’s stock worth $4,798,000 after purchasing an additional 102,182 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in Bancolombia by 41.4% in the 2nd quarter. QRG Capital Management Inc. now owns 10,746 shares of the bank’s stock worth $351,000 after purchasing an additional 3,146 shares in the last quarter.

Bancolombia Stock Performance

NYSE:CIB opened at $31.97 on Friday. The company has a market capitalization of $7.69 billion, a P/E ratio of 5.03, a P/E/G ratio of 3.25 and a beta of 1.23. The business has a fifty day simple moving average of $32.60 and a two-hundred day simple moving average of $33.58. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.03 and a quick ratio of 1.03. Bancolombia S.A. has a 1 year low of $24.15 and a 1 year high of $37.85.

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

Bancolombia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a $0.8456 dividend. This represents a $3.38 annualized dividend and a dividend yield of 10.58%. The ex-dividend date is Friday, September 27th. Bancolombia’s dividend payout ratio (DPR) is currently 53.14%.

Analysts Set New Price Targets

Several equities analysts have commented on CIB shares. Bank of America cut shares of Bancolombia from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $38.00 to $34.00 in a research report on Thursday, August 29th. JPMorgan Chase & Co. dropped 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. Finally, The Goldman Sachs Group downgraded Bancolombia from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $34.00 to $32.00 in a research note on Tuesday, August 20th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $32.40.

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.