Bancolombia S.A. (NYSE:CIB) Shares Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC raised its stake in Bancolombia S.A. (NYSE:CIB) by 3.0% in the second quarter, HoldingsChannel.com reports. The fund owned 121,479 shares of the bank’s stock after purchasing an additional 3,578 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Bancolombia were worth $3,966,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Leith Wheeler Investment Counsel Ltd. acquired a new position in Bancolombia in the 1st quarter valued at about $1,519,000. Capital Wealth Planning LLC acquired a new position in shares of Bancolombia in the first quarter valued at approximately $2,080,000. Ballentine Partners LLC purchased a new position in shares of Bancolombia during the first quarter valued at approximately $448,000. PNC Financial Services Group Inc. boosted its position in Bancolombia by 6.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,644 shares of the bank’s stock worth $297,000 after acquiring an additional 599 shares during the last quarter. Finally, Atlas Capital Advisors LLC grew its stake in Bancolombia by 578.1% in the 1st quarter. Atlas Capital Advisors LLC now owns 12,368 shares of the bank’s stock worth $423,000 after acquiring an additional 10,544 shares during the period.

Bancolombia Trading Down 0.6 %

Shares of CIB opened at $31.97 on Friday. The stock’s fifty day simple moving average is $32.60 and its 200 day simple moving average is $33.59. Bancolombia S.A. has a twelve month low of $24.15 and a twelve month high of $37.85. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $7.69 billion, a P/E ratio of 5.03, a price-to-earnings-growth ratio of 3.25 and a beta of 1.23.

Bancolombia (NYSE:CIB) last released its quarterly earnings data on Thursday, August 8th. The bank reported $1.44 earnings per share for the quarter, beating 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 business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.82 billion. On average, equities research analysts forecast that Bancolombia S.A. will post 5.99 earnings per share for the current year.

Bancolombia Cuts Dividend

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

Analyst Ratings Changes

A number of brokerages have weighed in on CIB. JPMorgan Chase & Co. reduced their price target on Bancolombia from $36.00 to $35.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Bank of America lowered Bancolombia from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $38.00 to $34.00 in a research note on Thursday, August 29th. Finally, The Goldman Sachs Group downgraded 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 research note on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Bancolombia 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.