Atlas Capital Advisors LLC Purchases 10,544 Shares of Bancolombia S.A. (NYSE:CIB)

Atlas Capital Advisors LLC boosted its position in Bancolombia S.A. (NYSE:CIB) by 578.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,368 shares of the bank’s stock after acquiring an additional 10,544 shares during the period. Atlas Capital Advisors LLC’s holdings in Bancolombia were worth $423,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CIB. Earnest Partners LLC increased its holdings in Bancolombia by 14.2% during the 3rd quarter. Earnest Partners LLC now owns 2,515,052 shares of the bank’s stock valued at $67,102,000 after purchasing an additional 312,502 shares during the period. Banco BTG Pactual S.A. bought a new position in shares of Bancolombia during the fourth quarter valued at approximately $3,017,000. Sei Investments Co. lifted its stake in Bancolombia by 16.3% in the third quarter. Sei Investments Co. now owns 686,161 shares of the bank’s stock worth $18,307,000 after acquiring an additional 96,247 shares during the period. INCA Investments LLC boosted its holdings in Bancolombia by 21.9% in the fourth quarter. INCA Investments LLC now owns 518,072 shares of the bank’s stock valued at $15,941,000 after acquiring an additional 93,238 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Bancolombia by 52.4% during the 4th quarter. Nordea Investment Management AB now owns 214,223 shares of the bank’s stock valued at $6,613,000 after purchasing an additional 73,656 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CIB. Bank of America initiated coverage on shares of Bancolombia in a research note on Thursday, May 2nd. They set a “neutral” rating and a $38.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on Bancolombia from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $33.12.

Bancolombia Trading Down 2.0 %

Shares of NYSE CIB opened at $32.20 on Friday. The company has a 50 day simple moving average of $34.16 and a two-hundred day simple moving average of $32.98. Bancolombia S.A. has a fifty-two week low of $24.15 and a fifty-two week high of $37.85. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.39.

Bancolombia (NYSE:CIB) last posted its quarterly earnings data on Thursday, May 9th. The bank reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.33. Bancolombia had a return on equity of 17.33% and a net margin of 13.64%. The company had revenue of $2.81 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the company earned $1.54 EPS. On average, analysts forecast that Bancolombia S.A. will post 5.98 EPS for the current year.

Bancolombia Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Thursday, June 27th will be given a dividend of $0.898 per share. This represents a $3.59 annualized dividend and a yield of 11.16%. This is an increase from Bancolombia’s previous quarterly dividend of $0.81. The ex-dividend date is Thursday, June 27th. Bancolombia’s dividend payout ratio is 56.92%.

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.