Thrivent Financial for Lutherans Has $2.03 Million Stake in Bancolombia S.A. (NYSE:CIB)

Thrivent Financial for Lutherans increased its stake in Bancolombia S.A. (NYSE:CIB) by 671.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,201 shares of the bank’s stock after purchasing an additional 54,136 shares during the period. Thrivent Financial for Lutherans’ holdings in Bancolombia were worth $2,031,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Leith Wheeler Investment Counsel Ltd. acquired a new position in shares of Bancolombia during the first quarter worth about $1,519,000. Capital Wealth Planning LLC acquired a new position in Bancolombia during the 1st quarter worth approximately $2,080,000. Ballentine Partners LLC acquired a new stake in shares of Bancolombia in the first quarter valued at approximately $448,000. PNC Financial Services Group Inc. raised its holdings in shares of Bancolombia by 6.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,644 shares of the bank’s stock valued at $297,000 after purchasing an additional 599 shares during the last quarter. Finally, Atlas Capital Advisors LLC boosted its holdings in Bancolombia by 578.1% during the first quarter. Atlas Capital Advisors LLC now owns 12,368 shares of the bank’s stock worth $423,000 after purchasing an additional 10,544 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CIB shares. Bank of America downgraded Bancolombia from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $38.00 to $34.00 in a research note on Thursday, August 29th. The Goldman Sachs Group downgraded shares of Bancolombia from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $34.00 to $32.00 in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. cut their target price 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. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $32.40.

Bancolombia Stock Performance

Shares of NYSE:CIB opened at $31.24 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.03 and a quick ratio of 1.03. Bancolombia S.A. has a 1 year low of $24.15 and a 1 year high of $37.85. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of 4.91, a price-to-earnings-growth ratio of 3.25 and a beta of 1.23. The company’s 50 day simple moving average is $32.55 and its 200 day simple moving average is $33.59.

Bancolombia (NYSE:CIB) last issued its earnings results on Thursday, August 8th. The bank reported $1.44 EPS 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 firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.82 billion. As a group, research analysts predict that Bancolombia S.A. will post 5.99 EPS for the current fiscal year.

Bancolombia Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.8456 per share. The ex-dividend date is Friday, September 27th. This represents a $3.38 dividend on an annualized basis and a dividend yield of 10.83%. Bancolombia’s payout ratio is presently 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.