Bancolombia S.A. (NYSE:CIB) Short Interest Update

Bancolombia S.A. (NYSE:CIB) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 175,700 shares, a growth of 8.7% from the October 15th total of 161,600 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 250,900 shares, the short-interest ratio is currently 0.7 days.

Hedge Funds Weigh In On Bancolombia

Hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new position in shares of Bancolombia during the 3rd quarter worth approximately $2,667,000. XTX Topco Ltd purchased a new stake in shares of Bancolombia in the third quarter valued at $385,000. Virtus Investment Advisers Inc. boosted its stake in shares of Bancolombia by 442.6% during the third quarter. Virtus Investment Advisers Inc. now owns 24,274 shares of the bank’s stock valued at $762,000 after acquiring an additional 19,800 shares during the last quarter. Wellington Management Group LLP acquired a new position in Bancolombia in the 3rd quarter valued at about $8,208,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of Bancolombia during the 3rd quarter worth about $245,000.

Bancolombia Stock Performance

Shares of NYSE:CIB opened at $32.83 on Tuesday. The firm’s 50 day moving average price is $31.94 and its 200 day moving average price is $33.07. Bancolombia has a fifty-two week low of $26.72 and a fifty-two week high of $37.85. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.34.

Bancolombia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.8456 per share. This represents a $3.38 annualized dividend and a dividend yield of 10.30%. The ex-dividend date of this dividend was Friday, September 27th. Bancolombia’s payout ratio is 52.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CIB shares. Bank of America downgraded Bancolombia from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $38.00 to $34.00 in a report on Thursday, August 29th. JPMorgan Chase & Co. decreased their price target on shares of Bancolombia from $36.00 to $35.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Finally, The Goldman Sachs Group lowered shares of Bancolombia from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $34.00 to $32.00 in a report on Tuesday, August 20th.

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.