DekaBank Deutsche Girozentrale Buys New Shares in Bancolombia S.A. (NYSE:CIB)

DekaBank Deutsche Girozentrale purchased a new position in shares of Bancolombia S.A. (NYSE:CIB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 15,946 shares of the bank’s stock, valued at approximately $506,000.

Several other large investors have also added to or reduced their stakes in CIB. Stokes Family Office LLC raised its stake in shares of Bancolombia by 1.9% in the second quarter. Stokes Family Office LLC now owns 25,883 shares of the bank’s stock worth $845,000 after purchasing an additional 473 shares during the last quarter. Signaturefd LLC lifted its stake in Bancolombia by 10.6% during the 2nd quarter. Signaturefd LLC now owns 5,053 shares of the bank’s stock valued at $165,000 after acquiring an additional 484 shares during the period. PNC Financial Services Group Inc. boosted 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 valued at $297,000 after acquiring an additional 599 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of Bancolombia by 14.2% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 9,729 shares of the bank’s stock worth $299,000 after acquiring an additional 1,208 shares during the period. Finally, Parallel Advisors LLC increased 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 acquiring an additional 1,288 shares during the period.

Wall Street Analysts Forecast Growth

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

Bancolombia Price Performance

NYSE:CIB opened at $32.16 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.40. Bancolombia S.A. has a 52 week low of $24.15 and a 52 week high of $37.85. The stock’s 50-day moving average price is $32.72 and its 200-day moving average price is $33.60. The stock has a market capitalization of $7.73 billion, a PE ratio of 5.06, a price-to-earnings-growth ratio of 3.16 and a beta of 1.23.

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

Bancolombia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.8456 per share. This represents a $3.38 annualized dividend and a yield of 10.52%. The ex-dividend date of this dividend is Friday, September 27th. Bancolombia’s payout ratio is 53.14%.

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.