DNB Asset Management AS Has $6.02 Million Holdings in Bancolombia S.A. (NYSE:CIB)

DNB Asset Management AS grew its holdings in Bancolombia S.A. (NYSE:CIB – Get Rating) by 59.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,002 shares of the bank’s stock after purchasing an additional 52,600 shares during the period. DNB Asset Management AS owned about 0.06% of Bancolombia worth $6,015,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CIB. Signaturefd LLC raised its holdings in shares of Bancolombia by 15.5% in the fourth quarter. Signaturefd LLC now owns 5,956 shares of the bank’s stock valued at $188,000 after purchasing an additional 799 shares during the last quarter. CAPROCK Group Inc. acquired a new stake in shares of Bancolombia in the fourth quarter valued at approximately $200,000. BNP Paribas Arbitrage SA raised its holdings in shares of Bancolombia by 11.6% in the fourth quarter. BNP Paribas Arbitrage SA now owns 9,354 shares of the bank’s stock valued at $295,000 after purchasing an additional 973 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Bancolombia by 36.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 10,030 shares of the bank’s stock valued at $317,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its holdings in Bancolombia by 19.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 10,089 shares of the bank’s stock worth $319,000 after buying an additional 1,653 shares during the last quarter. Institutional investors own 3.72% of the company’s stock.

NYSE:CIB opened at $34.90 on Thursday. Bancolombia S.A. has a one year low of $27.64 and a one year high of $45.98. The company has a market cap of $8.39 billion, a P/E ratio of 6.09, a P/E/G ratio of 0.36 and a beta of 1.23. The firm’s fifty day moving average price is $39.57 and its two-hundred day moving average price is $37.16. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.04 and a quick ratio of 1.04.

Bancolombia (NYSE:CIB – Get Rating) last announced its earnings results on Wednesday, May 11th. The bank reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.75. The company had revenue of $1.35 billion during the quarter. Bancolombia had a net margin of 22.87% and a return on equity of 14.28%. As a group, equities research analysts expect that Bancolombia S.A. will post 6.04 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 11th. Investors of record on Wednesday, June 29th will be given a dividend of $0.825 per share. The ex-dividend date of this dividend is Tuesday, June 28th. This represents a $3.30 annualized dividend and a yield of 9.46%. Bancolombia’s dividend payout ratio is 52.36%.

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Bancolombia from an “overweight” rating to a “neutral” rating and set a $46.00 target price on the stock. in a report on Tuesday, April 12th. Itau BBA Securities upgraded shares of Bancolombia from a “market perform” rating to an “outperform” rating and set a $47.00 target price on the stock in a report on Wednesday, March 23rd. Itaú Unibanco upgraded shares of Bancolombia from a “market perform” rating to an “outperform” rating and set a $47.00 target price on the stock in a report on Wednesday, March 23rd. Bank of America upgraded shares of Bancolombia from an “underperform” rating to a “buy” rating in a report on Wednesday, February 23rd. Finally, Citigroup upgraded shares of Bancolombia from a “neutral” rating to a “buy” rating in a report on Tuesday, May 3rd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Bancolombia currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.80.

Bancolombia Profile (Get Rating)

Bancolombia SA provides banking products and services in Colombia, Panama, Puerto Rico, El Salvador, Costa Rica, and Guatemala. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.

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