Bancolombia S.A. (NYSE:CIB) Short Interest Up 53.3% in March

Bancolombia S.A. (NYSE:CIBGet Rating) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 1,610,000 shares, an increase of 53.3% from the March 15th total of 1,050,000 shares. Currently, 1.4% of the company’s shares are short sold. Based on an average daily volume of 360,300 shares, the days-to-cover ratio is currently 4.5 days.

Shares of NYSE:CIB traded up $0.18 during mid-day trading on Friday, hitting $43.92. 152,405 shares of the company traded hands, compared to its average volume of 363,863. The stock has a market cap of $10.56 billion, a P/E ratio of 9.94, a P/E/G ratio of 0.51 and a beta of 1.27. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62. Bancolombia has a 12-month low of $27.64 and a 12-month high of $44.26. The stock has a 50-day moving average price of $38.77 and a two-hundred day moving average price of $35.44.

Bancolombia (NYSE:CIBGet Rating) last announced its earnings results on Tuesday, February 22nd. The bank reported $1.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.61. The company had revenue of $1.25 billion for the quarter. Bancolombia had a return on equity of 11.51% and a net margin of 18.80%. As a group, analysts expect that Bancolombia will post 5.3 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, April 11th. Investors of record on Friday, April 1st were given a dividend of $0.828 per share. This is a boost from Bancolombia’s previous quarterly dividend of $0.07. The ex-dividend date was Thursday, March 31st. This represents a $3.31 annualized dividend and a dividend yield of 7.54%. Bancolombia’s payout ratio is presently 67.87%.

CIB has been the subject of a number of research reports. JPMorgan Chase & Co. cut Bancolombia from an “overweight” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research note on Tuesday, April 12th. Bank of America raised Bancolombia from an “underperform” rating to a “buy” rating in a research note on Wednesday, February 23rd. Itaú Unibanco raised Bancolombia from a “market perform” rating to an “outperform” rating and set a $47.00 price objective for the company in a research note on Wednesday, March 23rd. The Goldman Sachs Group raised Bancolombia from a “sell” rating to a “buy” rating and raised their price objective for the company from $27.00 to $45.00 in a research note on Thursday, March 3rd. Finally, Zacks Investment Research raised Bancolombia from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Monday, January 24th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Bancolombia has an average rating of “Buy” and an average target price of $43.00.

A number of hedge funds have recently bought and sold shares of the business. Veriti Management LLC boosted its position in Bancolombia by 16.4% in the first quarter. Veriti Management LLC now owns 19,910 shares of the bank’s stock worth $849,000 after purchasing an additional 2,800 shares during the last quarter. DNB Asset Management AS boosted its position in Bancolombia by 59.5% in the first quarter. DNB Asset Management AS now owns 141,002 shares of the bank’s stock worth $6,015,000 after purchasing an additional 52,600 shares during the last quarter. Norges Bank purchased a new position in Bancolombia in the fourth quarter worth $7,740,000. BlackRock Inc. boosted its position in Bancolombia by 2.4% in the fourth quarter. BlackRock Inc. now owns 1,780,405 shares of the bank’s stock worth $56,243,000 after purchasing an additional 41,229 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in Bancolombia by 3.4% in the fourth quarter. Parametric Portfolio Associates LLC now owns 318,522 shares of the bank’s stock worth $10,062,000 after purchasing an additional 10,595 shares during the last quarter. 5.21% of the stock is currently owned by institutional investors and hedge funds.

About Bancolombia (Get Rating)

Bancolombia S. A. provides various banking products and services to individual and corporate customers in Colombia, Panama, Puerto Rico, El Salvador, Costa Rica, and Guatemala. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.

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