Zurcher Kantonalbank Zurich Cantonalbank Buys 6,743 Shares of Bancolombia S.A. (NYSE:CIB)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Bancolombia S.A. (NYSE:CIB) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,543 shares of the bank’s stock after purchasing an additional 6,743 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bancolombia were worth $3,432,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Earnest Partners LLC lifted its holdings in Bancolombia by 14.2% in the third quarter. Earnest Partners LLC now owns 2,515,052 shares of the bank’s stock valued at $67,102,000 after buying an additional 312,502 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in Bancolombia by 447.3% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 222,222 shares of the bank’s stock valued at $5,929,000 after buying an additional 181,615 shares during the period. Sei Investments Co. lifted its holdings in Bancolombia by 16.3% in the third quarter. Sei Investments Co. now owns 686,161 shares of the bank’s stock valued at $18,307,000 after buying an additional 96,247 shares during the period. Nordea Investment Management AB lifted its holdings in Bancolombia by 52.4% in the fourth quarter. Nordea Investment Management AB now owns 214,223 shares of the bank’s stock valued at $6,613,000 after buying an additional 73,656 shares during the period. Finally, Lesa Sroufe & Co acquired a new position in Bancolombia in the third quarter valued at approximately $1,713,000.

Bancolombia Price Performance

CIB opened at $32.71 on Tuesday. The firm’s fifty day moving average is $33.51 and its two-hundred day moving average is $30.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.38. Bancolombia S.A. has a twelve month low of $23.12 and a twelve month high of $37.15.

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

Bancolombia Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were issued a dividend of $0.8118 per share. The ex-dividend date was Thursday, March 28th. This represents a $3.25 dividend on an annualized basis and a dividend yield of 9.93%. Bancolombia’s payout ratio is 59.34%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. HSBC lowered shares of Bancolombia from a “buy” rating to a “hold” rating in a report on Monday, January 8th. JPMorgan Chase & Co. increased their price objective on shares of Bancolombia from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $31.90.

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.