Bancolombia S.A. (NYSE:CIB) Short Interest Update

Bancolombia S.A. (NYSE:CIB) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 175,700 shares, an increase of 8.7% from the October 15th total of 161,600 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily volume of 250,900 shares, the short-interest ratio is presently 0.7 days.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Bank of America cut Bancolombia from a “neutral” rating to an “underperform” rating and cut their price target for the company from $38.00 to $34.00 in a report on Thursday, August 29th. The Goldman Sachs Group downgraded Bancolombia from a “neutral” rating to a “sell” rating and cut their target price for the stock from $34.00 to $32.00 in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Bancolombia from $36.00 to $35.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Venturi Wealth Management LLC purchased a new stake in shares of Bancolombia in the 3rd quarter valued at approximately $27,000. Blue Trust Inc. increased its holdings in Bancolombia by 96.5% in the 3rd quarter. Blue Trust Inc. now owns 1,305 shares of the bank’s stock valued at $43,000 after purchasing an additional 641 shares during the last quarter. Virtus Investment Advisers Inc. purchased a new stake in Bancolombia in the first quarter valued at approximately $89,000. Signaturefd LLC lifted its stake in Bancolombia by 10.6% during the second quarter. Signaturefd LLC now owns 5,053 shares of the bank’s stock worth $165,000 after purchasing an additional 484 shares in the last quarter. Finally, US Bancorp DE lifted its stake in Bancolombia by 18.9% during the third quarter. US Bancorp DE now owns 5,282 shares of the bank’s stock worth $166,000 after purchasing an additional 839 shares in the last quarter.

Bancolombia Stock Up 3.3 %

CIB traded up $1.04 during trading hours on Monday, reaching $32.82. The company’s stock had a trading volume of 338,924 shares, compared to its average volume of 267,220. The business’s 50-day moving average is $31.91 and its 200-day moving average is $33.07. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.34. Bancolombia has a fifty-two week low of $26.72 and a fifty-two week high of $37.85.

Bancolombia Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.8456 dividend. The ex-dividend date was Friday, September 27th. This represents a $3.38 dividend on an annualized basis and a yield of 10.31%. Bancolombia’s payout ratio is currently 52.61%.

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.