Short Interest in Bancolombia S.A. (NYSE:CIB) Declines By 47.8%

Bancolombia S.A. (NYSE:CIBGet Rating) was the target of a significant decrease in short interest in May. As of May 31st, there was short interest totalling 923,600 shares, a decrease of 47.8% from the May 15th total of 1,770,000 shares. Based on an average daily volume of 386,800 shares, the short-interest ratio is presently 2.4 days. Currently, 0.8% of the shares of the stock are short sold.

A number of large investors have recently bought and sold shares of the stock. Pinebridge Investments L.P. purchased a new position in shares of Bancolombia during the first quarter worth about $26,000. Trustcore Financial Services LLC grew its holdings in shares of Bancolombia by 135.7% during the first quarter. Trustcore Financial Services LLC now owns 660 shares of the bank’s stock worth $28,000 after purchasing an additional 380 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Bancolombia during the fourth quarter worth about $33,000. PNC Financial Services Group Inc. grew its holdings in shares of Bancolombia by 13.7% during the first quarter. PNC Financial Services Group Inc. now owns 2,719 shares of the bank’s stock worth $117,000 after purchasing an additional 327 shares during the last quarter. Finally, Atlas Capital Advisors LLC grew its holdings in shares of Bancolombia by 530.6% during the first quarter. Atlas Capital Advisors LLC now owns 3,582 shares of the bank’s stock worth $153,000 after purchasing an additional 3,014 shares during the last quarter. 3.72% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently issued reports on the company. Bank of America upgraded Bancolombia from an “underperform” rating to a “buy” rating in a research report on Wednesday, February 23rd. Citigroup upgraded Bancolombia from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 3rd. The Goldman Sachs Group upgraded Bancolombia from a “sell” rating to a “buy” rating and upped their price target for the stock from $27.00 to $45.00 in a research note on Thursday, March 3rd. Itaú Unibanco upgraded Bancolombia from a “market perform” rating to an “outperform” rating and set a $47.00 price target on the stock in a research note on Wednesday, March 23rd. Finally, Itau BBA Securities raised Bancolombia from a “market perform” rating to an “outperform” rating and set a $47.00 price objective on the stock in a research report on Wednesday, March 23rd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Bancolombia presently has a consensus rating of “Buy” and an average target price of $43.80.

NYSE:CIB opened at $39.75 on Friday. The firm has a market capitalization of $9.56 billion, a PE ratio of 6.94, a price-to-earnings-growth ratio of 0.42 and a beta of 1.23. The business’s fifty day moving average price is $40.51 and its 200 day moving average price is $36.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.04 and a quick ratio of 1.04. Bancolombia has a 12 month low of $27.64 and a 12 month high of $45.98.

Bancolombia (NYSE:CIBGet Rating) last posted its earnings results on Wednesday, May 11th. The bank reported $1.92 EPS for the quarter, beating the consensus estimate of $1.17 by $0.75. The firm had revenue of $1.35 billion for the quarter. Bancolombia had a return on equity of 14.28% and a net margin of 22.87%. As a group, equities analysts anticipate that Bancolombia will post 5.98 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 11th. Investors of record on Wednesday, June 29th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 8.30%. The ex-dividend date is Tuesday, June 28th. Bancolombia’s dividend payout ratio (DPR) is presently 52.36%.

Bancolombia Company Profile (Get Rating)

Bancolombia SA provides banking products and services 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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