Nordea Investment Management AB Lowers Stock Position in Bancolombia SA (NYSE:CIB)

Nordea Investment Management AB trimmed its holdings in shares of Bancolombia SA (NYSE:CIB) by 52.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,104 shares of the bank’s stock after selling 67,282 shares during the period. Nordea Investment Management AB’s holdings in Bancolombia were worth $3,120,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lindbrook Capital LLC bought a new position in Bancolombia during the fourth quarter worth about $31,000. BNP Paribas Arbitrage SA boosted its position in Bancolombia by 167.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 621 shares of the bank’s stock worth $32,000 after buying an additional 389 shares during the period. Parallel Advisors LLC boosted its position in Bancolombia by 45.7% during the 1st quarter. Parallel Advisors LLC now owns 845 shares of the bank’s stock worth $43,000 after buying an additional 265 shares during the period. Bartlett & Co. LLC acquired a new position in shares of Bancolombia in the 1st quarter worth approximately $64,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Bancolombia by 37.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,914 shares of the bank’s stock worth $73,000 after purchasing an additional 519 shares during the period. Hedge funds and other institutional investors own 7.30% of the company’s stock.

Shares of CIB stock traded down $0.74 during trading on Thursday, hitting $51.84. The company had a trading volume of 146,800 shares, compared to its average volume of 312,357. Bancolombia SA has a 52 week low of $35.52 and a 52 week high of $55.40. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.76. The business’s 50-day simple moving average is $49.85. The firm has a market cap of $12.70 billion, a PE ratio of 14.90 and a beta of 0.73.

Bancolombia (NYSE:CIB) last issued its quarterly earnings results on Thursday, May 9th. The bank reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.11. Bancolombia had a net margin of 15.03% and a return on equity of 11.81%. The business had revenue of $1.09 billion for the quarter. On average, research analysts anticipate that Bancolombia SA will post 4.08 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Thursday, June 27th were given a dividend of $0.3339 per share. This represents a $1.34 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date was Wednesday, June 26th. Bancolombia’s payout ratio is currently 35.92%.

A number of analysts have commented on CIB shares. Citigroup decreased their price target on shares of UnitedHealth Group from $288.00 to $247.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. ValuEngine raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Zacks Investment Research upgraded shares of Gerdau from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. Finally, Credit Suisse Group upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research report on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $54.00.

Bancolombia Profile

Bancolombia SA provides various banking products and services to individual, corporate, and government customers in Colombia, Latin America, and the Caribbean region. The company operates in nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, Off Shore, and All Other.

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Institutional Ownership by Quarter for Bancolombia (NYSE:CIB)

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