Stokes Family Office LLC Boosts Holdings in Bancolombia S.A. (NYSE:CIB)

Stokes Family Office LLC grew its stake in shares of Bancolombia S.A. (NYSE:CIB) by 93.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,890 shares of the bank’s stock after purchasing an additional 12,500 shares during the period. Stokes Family Office LLC’s holdings in Bancolombia were worth $797,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CIB. Earnest Partners LLC grew its position in shares of Bancolombia by 14.2% in the 3rd quarter. Earnest Partners LLC now owns 2,515,052 shares of the bank’s stock worth $67,102,000 after buying an additional 312,502 shares during the period. Sei Investments Co. lifted its holdings in shares of Bancolombia by 16.3% during the third quarter. Sei Investments Co. now owns 686,161 shares of the bank’s stock valued at $18,307,000 after purchasing an additional 96,247 shares during the last quarter. INCA Investments LLC lifted its holdings in shares of Bancolombia by 21.9% during the fourth quarter. INCA Investments LLC now owns 518,072 shares of the bank’s stock valued at $15,941,000 after purchasing an additional 93,238 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of Bancolombia by 447.3% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 222,222 shares of the bank’s stock worth $5,929,000 after purchasing an additional 181,615 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Bancolombia by 52.4% in the 4th quarter. Nordea Investment Management AB now owns 214,223 shares of the bank’s stock worth $6,613,000 after buying an additional 73,656 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have commented on CIB shares. HSBC downgraded Bancolombia from a “buy” rating to a “hold” rating in a report on Monday, January 8th. JPMorgan Chase & Co. upped their price target on shares of Bancolombia from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. Finally, Bank of America assumed coverage on shares of Bancolombia in a research note on Thursday. They set a “neutral” rating and a $38.00 price objective for the company. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $33.12.

Bancolombia Trading Up 1.6 %

Shares of NYSE:CIB traded up $0.53 during midday trading on Friday, reaching $33.93. 155,540 shares of the company’s stock traded hands, compared to its average volume of 342,184. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.38. Bancolombia S.A. has a one year low of $23.12 and a one year high of $37.15. The stock has a 50 day moving average of $33.68 and a 200 day moving average of $30.90.

Bancolombia (NYSE:CIB) last announced its quarterly earnings results on Tuesday, February 20th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.26. Bancolombia had a net margin of 13.51% and a return on equity of 18.46%. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.68 billion. On average, research analysts forecast that Bancolombia S.A. will post 5.94 earnings per share for the current fiscal year.

Bancolombia Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were issued a dividend of $0.8118 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $3.25 annualized dividend and a dividend yield of 9.57%. Bancolombia’s payout ratio is 59.34%.

Bancolombia Profile

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.