abrdn plc Buys Shares of 10,044 Bancolombia S.A. (NYSE:CIB)

abrdn plc bought a new stake in shares of Bancolombia S.A. (NYSE:CIB – Get Rating) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 10,044 shares of the bank’s stock, valued at approximately $430,000.

Several other institutional investors have also modified their holdings of CIB. Itau Unibanco Holding S.A. acquired a new stake in Bancolombia in the fourth quarter worth about $16,709,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Bancolombia by 5.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 185,244 shares of the bank’s stock worth $5,852,000 after buying an additional 10,136 shares during the period. DNB Asset Management AS raised its holdings in Bancolombia by 59.5% during the 1st quarter. DNB Asset Management AS now owns 141,002 shares of the bank’s stock worth $6,015,000 after buying an additional 52,600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Bancolombia by 4.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 90,700 shares of the bank’s stock valued at $3,869,000 after purchasing an additional 4,200 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Bancolombia by 5.9% in the 4th quarter. Northern Trust Corp now owns 64,815 shares of the bank’s stock valued at $2,048,000 after purchasing an additional 3,613 shares during the period. Institutional investors own 3.72% of the company’s stock.

Bancolombia Stock Down 1.1 %

Shares of CIB stock opened at $28.94 on Thursday. The stock has a market cap of $6.96 billion, a P/E ratio of 5.05, a price-to-earnings-growth ratio of 0.27 and a beta of 1.27. Bancolombia S.A. has a one year low of $26.27 and a one year high of $45.98. The stock has a fifty day moving average price of $33.90 and a 200 day moving average price of $36.67. 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 issued its earnings results on Wednesday, May 11th. The bank reported $1.92 EPS for the quarter, topping the consensus estimate of $1.17 by $0.75. The firm had revenue of $1.35 billion during the quarter. Bancolombia had a return on equity of 14.28% and a net margin of 22.87%. Analysts predict that Bancolombia S.A. will post 6.15 earnings per share for the current year.

Bancolombia Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 11th. Investors of record on Wednesday, June 29th were given a $0.825 dividend. The ex-dividend date was Tuesday, June 28th. This represents a $3.30 annualized dividend and a yield of 11.40%. Bancolombia’s dividend payout ratio (DPR) is currently 45.38%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CIB. Credit Suisse Group upgraded Bancolombia from a “neutral” rating to an “outperform” rating and set a $35.00 target price on the stock in a report on Tuesday. JPMorgan Chase & Co. downgraded Bancolombia from an “overweight” rating to a “neutral” rating and set a $46.00 price objective on the stock. in a report on Tuesday, April 12th. TheStreet downgraded Bancolombia from a “b-” rating to a “c+” rating in a report on Wednesday, July 27th. Finally, Citigroup upgraded Bancolombia from a “neutral” rating to a “buy” rating in a report on Tuesday, May 3rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

Bancolombia Company 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.

Featured Stories

• Get a free copy of the StockNews.com research report on Bancolombia (CIB)
• Is it Time to Tap Molson Coors or Will Beer Sales Turn Flat?
• There Are Different Types of Stock To Invest In
• Is Starbucks Shooting For The Moon? 
• PayPal Continues To Struggle As Competition Increases
• Two High-Yield Deep-Values You Shouldn’t Ignore 

Want to see what other hedge funds are holding CIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bancolombia S.A. (NYSE:CIB – Get Rating).

Want More Great Investing Ideas?