M&G Plc Invests $10.30 Million in Bancolombia S.A. (NYSE:CIB)

M&G Plc purchased a new position in shares of Bancolombia S.A. (NYSE:CIB) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 302,907 shares of the bank’s stock, valued at approximately $10,299,000. M&G Plc owned about 0.13% of Bancolombia as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in Bancolombia in the 1st quarter valued at about $8,248,000. QRG Capital Management Inc. acquired a new position in Bancolombia during the 1st quarter worth approximately $260,000. Capital Wealth Planning LLC acquired a new position in shares of Bancolombia in the 1st quarter valued at approximately $2,080,000. Leith Wheeler Investment Counsel Ltd. acquired a new position in shares of Bancolombia in the 1st quarter valued at approximately $1,519,000. Finally, Lesa Sroufe & Co acquired a new position in shares of Bancolombia in the 1st quarter valued at approximately $2,217,000.

Bancolombia Trading Up 1.3 %

Shares of CIB stock traded up $0.43 during mid-day trading on Friday, reaching $33.64. The stock had a trading volume of 142,805 shares, compared to its average volume of 257,613. The firm’s 50 day simple moving average is $34.26 and its 200 day simple moving average is $33.42. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.04 and a quick ratio of 1.04. Bancolombia S.A. has a one year low of $24.15 and a one year high of $37.85.

Bancolombia (NYSE:CIB) last announced its quarterly earnings results on Thursday, May 9th. The bank reported $1.80 EPS for the quarter, beating the consensus estimate of $1.47 by $0.33. Bancolombia had a return on equity of 17.33% and a net margin of 13.64%. The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the firm earned $1.54 EPS. On average, equities analysts predict that Bancolombia S.A. will post 6.02 earnings per share for the current year.

Bancolombia Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Thursday, June 27th were issued a $0.898 dividend. This is an increase from Bancolombia’s previous quarterly dividend of $0.81. This represents a $3.59 annualized dividend and a dividend yield of 10.68%. The ex-dividend date was Thursday, June 27th. Bancolombia’s dividend payout ratio is 53.77%.

Analysts Set New Price Targets

CIB has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on Bancolombia from $35.00 to $36.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 10th. Bank of America started coverage on Bancolombia in a report on Thursday, May 2nd. They issued a “neutral” rating and a $38.00 price objective for the company. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $33.32.

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.