Millennium Management LLC Trims Position in Bancolombia S.A. (NYSE:CIB)

Millennium Management LLC lowered its holdings in Bancolombia S.A. (NYSE:CIB) by 65.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 123,043 shares of the bank’s stock after selling 233,458 shares during the quarter. Millennium Management LLC’s holdings in Bancolombia were worth $4,017,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. APG Asset Management N.V. boosted its position in Bancolombia by 23.7% in the 2nd quarter. APG Asset Management N.V. now owns 23,200 shares of the bank’s stock worth $707,000 after purchasing an additional 4,440 shares in the last quarter. AXA S.A. acquired a new stake in Bancolombia in the second quarter valued at approximately $192,000. Cubist Systematic Strategies LLC increased its position in shares of Bancolombia by 3.0% in the second quarter. Cubist Systematic Strategies LLC now owns 121,479 shares of the bank’s stock valued at $3,966,000 after buying an additional 3,578 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Bancolombia by 45.3% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,412,322 shares of the bank’s stock worth $46,112,000 after buying an additional 440,026 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in shares of Bancolombia by 671.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 62,201 shares of the bank’s stock valued at $2,031,000 after buying an additional 54,136 shares in the last quarter.

Bancolombia Price Performance

Shares of CIB opened at $32.35 on Monday. The firm has a 50-day simple moving average of $32.31 and a two-hundred day simple moving average of $33.43. 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 $24.74 and a 1-year high of $37.85. The stock has a market cap of $7.78 billion, a PE ratio of 5.09, a P/E/G ratio of 3.16 and a beta of 1.23.

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

Bancolombia Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.8456 dividend. This represents a $3.38 annualized dividend and a yield of 10.46%. The ex-dividend date was Friday, September 27th. Bancolombia’s dividend payout ratio is currently 52.04%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CIB shares. The Goldman Sachs Group cut shares of Bancolombia from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $34.00 to $32.00 in a research report on Tuesday, August 20th. Bank of America lowered Bancolombia from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $38.00 to $34.00 in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Bancolombia from $36.00 to $35.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat.com, Bancolombia currently has a consensus rating of “Reduce” and a consensus price target of $32.40.

Bancolombia 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.