Allspring Global Investments Holdings LLC Lowers Position in Bancolombia S.A. (NYSE:CIB)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Bancolombia S.A. (NYSE:CIB) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,209,302 shares of the bank’s stock after selling 19,500 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Bancolombia were worth $37,210,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its holdings in shares of Bancolombia by 13.7% in the 1st 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 in the last quarter. Greenleaf Trust grew its position in Bancolombia by 3.1% during the third quarter. Greenleaf Trust now owns 12,743 shares of the bank’s stock valued at $340,000 after acquiring an additional 379 shares during the last quarter. Advisor Group Holdings Inc. grew its position in Bancolombia by 12.0% during the first quarter. Advisor Group Holdings Inc. now owns 5,173 shares of the bank’s stock valued at $221,000 after acquiring an additional 553 shares during the last quarter. UBS Group AG raised its stake in shares of Bancolombia by 2.8% during the fourth quarter. UBS Group AG now owns 20,509 shares of the bank’s stock worth $585,000 after acquiring an additional 558 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Bancolombia by 7.4% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 8,521 shares of the bank’s stock worth $227,000 after acquiring an additional 585 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, HSBC cut shares of Bancolombia from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $30.65.

Bancolombia Stock Performance

NYSE:CIB opened at $34.50 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.05 and a quick ratio of 1.05. The business has a 50 day moving average price of $33.34 and a 200-day moving average price of $30.14. Bancolombia S.A. has a fifty-two week low of $23.12 and a fifty-two week high of $37.15.

Bancolombia (NYSE:CIB) last issued its quarterly earnings data on Tuesday, February 20th. The bank reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.26. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.68 billion. Bancolombia had a return on equity of 18.46% and a net margin of 13.51%. Equities analysts forecast that Bancolombia S.A. will post 5.69 earnings per share for the current year.

Bancolombia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were given a dividend of $0.8118 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $3.25 annualized dividend and a yield of 9.41%. Bancolombia’s payout ratio is 59.84%.

Bancolombia Profile

Bancolombia SA provides banking products and services in Colombia, Panama, Puerto Rico, El Salvador, Bermuda, 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.