Rhumbline Advisers Trims Stake in Bancolombia S.A. (NYSE:CIB)

Rhumbline Advisers cut its stake in shares of Bancolombia S.A. (NYSE:CIB) by 3.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,786 shares of the bank’s stock after selling 740 shares during the period. Rhumbline Advisers’ holdings in Bancolombia were worth $679,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CIB. Moneda S.A. Administradora General de Fondos purchased a new position in shares of Bancolombia during the 2nd quarter valued at about $5,756,000. Signaturefd LLC lifted its holdings in Bancolombia by 10.6% during the second quarter. Signaturefd LLC now owns 5,053 shares of the bank’s stock valued at $165,000 after purchasing an additional 484 shares in the last quarter. Liontrust Investment Partners LLP boosted its position in shares of Bancolombia by 21.7% in the second quarter. Liontrust Investment Partners LLP now owns 28,000 shares of the bank’s stock worth $914,000 after purchasing an additional 5,000 shares during the period. Summit Global Investments increased its stake in shares of Bancolombia by 228.3% in the second quarter. Summit Global Investments now owns 146,944 shares of the bank’s stock worth $4,798,000 after purchasing an additional 102,182 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of Bancolombia by 41.4% during the 2nd quarter. QRG Capital Management Inc. now owns 10,746 shares of the bank’s stock valued at $351,000 after purchasing an additional 3,146 shares during the period.

Bancolombia Stock Performance

Bancolombia stock opened at $32.95 on Wednesday. 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 market capitalization of $7.92 billion, a PE ratio of 5.18, a P/E/G ratio of 3.16 and a beta of 1.23. The company has a 50 day moving average price of $32.66 and a 200-day moving average price of $33.60. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.03 and a current ratio of 1.03.

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

Bancolombia Cuts Dividend

The company 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 $0.8456 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.38 annualized dividend and a yield of 10.26%. Bancolombia’s dividend payout ratio (DPR) is 53.14%.

Analyst Ratings Changes

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

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.