Short Interest in Bancolombia S.A. (NYSE:CIB) Grows By 48.7%

Bancolombia S.A. (NYSE:CIB) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 543,700 shares, a growth of 48.7% from the May 31st total of 365,700 shares. Based on an average daily volume of 290,400 shares, the short-interest ratio is currently 1.9 days.

Bancolombia Trading Up 0.7 %

Shares of NYSE:CIB traded up $0.24 on Monday, hitting $32.89. The company had a trading volume of 20,313 shares, compared to its average volume of 285,839. Bancolombia has a 1 year low of $24.15 and a 1 year high of $37.85. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.39. The firm’s 50-day simple moving average is $34.16 and its two-hundred day simple moving average is $33.08.

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 the consensus estimate of $1.47 by $0.33. Bancolombia had a return on equity of 17.33% and a net margin of 13.64%. The business had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the previous year, the firm posted $1.54 EPS. On average, equities analysts predict that Bancolombia will post 5.98 earnings per share for the current year.

Bancolombia Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Thursday, June 27th will be issued a $0.898 dividend. This is an increase from Bancolombia’s previous quarterly dividend of $0.81. The ex-dividend date is Thursday, June 27th. This represents a $3.59 dividend on an annualized basis and a yield of 10.92%. Bancolombia’s dividend payout ratio is 56.45%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Bancolombia

Several institutional investors and hedge funds have recently added to or reduced their stakes in CIB. Parallel Advisors LLC raised its stake in shares of Bancolombia by 164.9% in the fourth quarter. Parallel Advisors LLC now owns 2,069 shares of the bank’s stock worth $64,000 after purchasing an additional 1,288 shares during the last quarter. Virtus Investment Advisers Inc. bought a new position in Bancolombia during the 1st quarter valued at about $89,000. V Square Quantitative Management LLC purchased a new stake in shares of Bancolombia during the 4th quarter valued at about $117,000. Barometer Capital Management Inc. bought a new stake in shares of Bancolombia in the fourth quarter worth approximately $123,000. Finally, Signaturefd LLC raised its holdings in shares of Bancolombia by 26.1% during the fourth quarter. Signaturefd LLC now owns 4,425 shares of the bank’s stock valued at $136,000 after purchasing an additional 916 shares during the last quarter.

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.