Envestnet Asset Management Inc. Boosts Stake in Bancolombia S.A. (NYSE:CIB)

Envestnet Asset Management Inc. boosted its holdings in Bancolombia S.A. (NYSE:CIB – Get Rating) by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,542 shares of the bank’s stock after acquiring an additional 1,897 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Bancolombia were worth $1,300,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Robeco Institutional Asset Management B.V. bought a new stake in shares of Bancolombia during the 4th quarter worth $21,404,000. INCA Investments LLC raised its holdings in shares of Bancolombia by 32.8% during the 4th quarter. INCA Investments LLC now owns 385,789 shares of the bank’s stock valued at $11,010,000 after buying an additional 95,238 shares in the last quarter. Legacy Wealth Asset Management LLC purchased a new stake in Bancolombia in the fourth quarter worth approximately $461,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Bancolombia by 9.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 85,400 shares of the bank’s stock valued at $2,437,000 after acquiring an additional 7,400 shares during the last quarter. Finally, M&G Investment Management Ltd. purchased a new position in shares of Bancolombia during the fourth quarter worth approximately $3,621,000. Hedge funds and other institutional investors own 1.89% of the company’s stock.

Bancolombia Stock Performance

Shares of Bancolombia stock opened at $24.25 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.02. Bancolombia S.A. has a 52-week low of $21.55 and a 52-week high of $45.98. The company’s 50 day moving average price is $25.12 and its 200-day moving average price is $26.49.

Bancolombia (NYSE:CIB – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The bank reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $1.44 billion for the quarter. Bancolombia had a net margin of 18.25% and a return on equity of 17.92%. On average, sell-side analysts forecast that Bancolombia S.A. will post 5.75 EPS for the current year.

Bancolombia Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 13th. Shareholders of record on Friday, March 31st were issued a $0.7332 dividend. The ex-dividend date was Thursday, March 30th. This represents a $2.93 annualized dividend and a yield of 12.09%. This is a boost from Bancolombia’s previous quarterly dividend of $0.65. Bancolombia’s dividend payout ratio (DPR) is 44.69%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Bank of America lowered shares of Bancolombia from a “buy” rating to a “neutral” rating in a report on Thursday, April 27th. TheStreet raised Bancolombia from a “c+” rating to a “b-” rating in a research note on Friday, April 14th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

About Bancolombia

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Bancolombia SA provides various banking products and services to individual, corporate, and government customers in Colombia, Latin America, and the Caribbean region. It operates through following operating segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment banking, Brokerage, Off Shore and Others.