APG Asset Management N.V. Has $707,000 Position in Bancolombia S.A. (NYSE:CIB)

APG Asset Management N.V. lifted its holdings in shares of Bancolombia S.A. (NYSE:CIB) by 23.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 23,200 shares of the bank’s stock after purchasing an additional 4,440 shares during the period. APG Asset Management N.V.’s holdings in Bancolombia were worth $707,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. PNC Financial Services Group Inc. increased 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 in the last quarter. Parallel Advisors LLC increased its stake in shares of Bancolombia by 164.9% in the 4th quarter. Parallel Advisors LLC now owns 2,069 shares of the bank’s stock valued at $64,000 after buying an additional 1,288 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of Bancolombia during the fourth quarter worth $683,000. C Partners Holding GmbH lifted its stake in shares of Bancolombia by 7.5% during the fourth quarter. C Partners Holding GmbH now owns 818,496 shares of the bank’s stock valued at $25,185,000 after acquiring an additional 56,977 shares during the period. Finally, Barometer Capital Management Inc. acquired a new stake in Bancolombia in the fourth quarter worth about $123,000.

Wall Street Analyst Weigh In

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

Bancolombia Stock Performance

Shares of NYSE:CIB opened at $31.24 on Wednesday. The firm’s 50 day simple moving average is $32.55 and its 200 day simple moving average is $33.59. 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 $7.51 billion, a price-to-earnings ratio of 4.91, a P/E/G ratio of 3.25 and a beta of 1.23. 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 (NYSE:CIB) last posted 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. 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, sell-side analysts forecast that Bancolombia S.A. will post 5.99 earnings per share for the current year.

Bancolombia Cuts Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.38 annualized dividend and a yield of 10.83%. Bancolombia’s dividend payout ratio is presently 53.14%.

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.