Allspring Global Investments Holdings LLC Has $30.85 Million Holdings in Bancolombia S.A. (NYSE:CIB)

Allspring Global Investments Holdings LLC decreased its stake in shares of Bancolombia S.A. (NYSE:CIB) by 7.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 983,059 shares of the bank’s stock after selling 74,935 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.41% of Bancolombia worth $30,848,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its holdings in shares of Bancolombia by 6.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,644 shares of the bank’s stock worth $297,000 after purchasing an additional 599 shares in the last quarter. Atlas Capital Advisors LLC raised its holdings in shares of Bancolombia by 578.1% in the first quarter. Atlas Capital Advisors LLC now owns 12,368 shares of the bank’s stock valued at $423,000 after purchasing an additional 10,544 shares during the last quarter. Lesa Sroufe & Co bought a new position in shares of Bancolombia during the first quarter valued at about $2,217,000. Leith Wheeler Investment Counsel Ltd. bought a new position in shares of Bancolombia during the 1st quarter worth approximately $1,519,000. Finally, Capital Wealth Planning LLC purchased a new stake in shares of Bancolombia during the first quarter valued at approximately $2,080,000.

Analyst Ratings Changes

CIB has been the topic of several research analyst reports. Bank of America cut Bancolombia from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $38.00 to $34.00 in a research report on Thursday, August 29th. The Goldman Sachs Group cut Bancolombia from a “neutral” rating to a “sell” rating and dropped their price target for the company from $34.00 to $32.00 in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Bancolombia from $36.00 to $35.00 and set an “underweight” rating for the company in a research note on Monday, August 12th.

Bancolombia Price Performance

CIB stock opened at $31.08 on Thursday. Bancolombia S.A. has a 12 month low of $25.03 and a 12 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 $7.47 billion, a P/E ratio of 4.89, a price-to-earnings-growth ratio of 3.16 and a beta of 1.23. The firm has a 50 day moving average of $32.37 and a 200-day moving average of $33.28.

Bancolombia (NYSE:CIB) last issued its quarterly earnings results 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%. As a group, sell-side analysts predict that Bancolombia S.A. will post 5.99 earnings per share for the current fiscal year.

Bancolombia Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.8456 per share. This represents a $3.38 annualized dividend and a dividend yield of 10.88%. The ex-dividend date was Friday, September 27th. Bancolombia’s dividend payout ratio (DPR) is currently 52.04%.

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.