Itau Unibanco Holding S.A. Makes New $24.80 Million Investment in Bancolombia S.A. (NYSE:CIB)

Itau Unibanco Holding S.A. purchased a new position in Bancolombia S.A. (NYSE:CIB) in the 4th quarter, HoldingsChannel reports. The fund purchased 787,079 shares of the bank’s stock, valued at approximately $24,801,000. Bancolombia comprises approximately 0.8% of Itau Unibanco Holding S.A.’s holdings, making the stock its 26th biggest position.

Other institutional investors have also modified their holdings of the company. Lindbrook Capital LLC grew its stake in shares of Bancolombia by 74.7% during the fourth quarter. Lindbrook Capital LLC now owns 968 shares of the bank’s stock worth $31,000 after purchasing an additional 414 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Bancolombia by 41.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank’s stock worth $72,000 after purchasing an additional 657 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Bancolombia during the fourth quarter worth $89,000. R Squared Ltd acquired a new position in shares of Bancolombia during the fourth quarter worth $121,000. Finally, V Square Quantitative Management LLC grew its stake in shares of Bancolombia by 126.1% during the fourth quarter. V Square Quantitative Management LLC now owns 5,288 shares of the bank’s stock worth $169,000 after purchasing an additional 2,949 shares in the last quarter.

Bancolombia Trading Down 1.6 %

NYSE:CIB opened at $40.16 on Thursday. The firm has a market cap of $9.66 billion, a P/E ratio of 6.37, a PEG ratio of 2.47 and a beta of 0.85. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. The stock’s 50 day simple moving average is $41.10 and its 200-day simple moving average is $36.47. Bancolombia S.A. has a 12-month low of $30.25 and a 12-month high of $44.93.

Bancolombia (NYSE:CIB) last released its earnings results on Thursday, February 20th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.22. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.41 billion. Bancolombia had a return on equity of 14.61% and a net margin of 14.14%. Equities analysts anticipate that Bancolombia S.A. will post 6 EPS for the current year.

Bancolombia Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, May 9th. Investors of record on Tuesday, April 29th will be paid a $0.5745 dividend. The ex-dividend date is Monday, April 28th. This is an increase from Bancolombia’s previous dividend of $0.30. This represents a dividend yield of 17.13%. Bancolombia’s payout ratio is 107.46%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Bancolombia from $31.00 to $35.00 and gave the company a “sell” rating in a research note on Monday, February 24th. Morgan Stanley upgraded shares of Bancolombia from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $53.00 in a research note on Tuesday, January 28th.

Bancolombia Company 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.