Earnest Partners LLC Purchases 56,475 Shares of BanColombia S.A. $CIB

Earnest Partners LLC raised its position in shares of BanColombia S.A. (NYSE:CIB) by 2.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,566,128 shares of the bank’s stock after purchasing an additional 56,475 shares during the quarter. Earnest Partners LLC owned 1.07% of BanColombia worth $103,158,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. SVB Wealth LLC bought a new stake in BanColombia during the 1st quarter valued at about $45,000. Aberdeen Group plc bought a new stake in BanColombia during the 1st quarter valued at about $201,000. Whipplewood Advisors LLC increased its stake in BanColombia by 4,800.9% during the 1st quarter. Whipplewood Advisors LLC now owns 5,195 shares of the bank’s stock valued at $209,000 after purchasing an additional 5,089 shares in the last quarter. Malaga Cove Capital LLC bought a new stake in BanColombia during the 1st quarter valued at about $209,000. Finally, Aigen Investment Management LP bought a new stake in BanColombia during the 1st quarter valued at about $241,000.

BanColombia Stock Performance

CIB opened at $50.12 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.29. The company has a market cap of $12.05 billion, a price-to-earnings ratio of 7.61, a PEG ratio of 1.00 and a beta of 0.92. The company’s 50 day moving average is $45.90 and its 200 day moving average is $42.96. BanColombia S.A. has a 12-month low of $30.65 and a 12-month high of $50.60.

BanColombia (NYSE:CIB) last posted its quarterly earnings data on Thursday, August 7th. The bank reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.13. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.75 billion. BanColombia had a net margin of 15.30% and a return on equity of 19.77%. On average, equities research analysts predict that BanColombia S.A. will post 6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CIB shares. Bank of America upgraded shares of BanColombia from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $41.00 to $49.00 in a research note on Thursday, August 7th. UBS Group restated a “neutral” rating and set a $38.00 price objective (up from $35.00) on shares of BanColombia in a research note on Monday, June 2nd. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $43.75.

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.