Creative Planning Sells 5,068 Shares of Bancolombia S.A. (NYSE:CIB)

Creative Planning lowered its stake in shares of Bancolombia S.A. (NYSE:CIB) by 28.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 12,739 shares of the bank’s stock after selling 5,068 shares during the period. Creative Planning’s holdings in Bancolombia were worth $400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Earnest Partners LLC lifted its stake in Bancolombia by 4.4% during the 1st quarter. Earnest Partners LLC now owns 2,624,263 shares of the bank’s stock valued at $89,802,000 after acquiring an additional 110,845 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Bancolombia by 45.3% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,412,322 shares of the bank’s stock worth $46,112,000 after purchasing an additional 440,026 shares during the period. M&G Plc bought a new position in shares of Bancolombia in the 1st quarter worth approximately $10,299,000. Swedbank AB bought a new position in shares of Bancolombia in the 1st quarter worth approximately $9,260,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Bancolombia in the 1st quarter worth approximately $8,248,000.

Analyst Ratings Changes

CIB has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of Bancolombia from $36.00 to $35.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. The Goldman Sachs Group cut Bancolombia from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $34.00 to $32.00 in a research report on Tuesday, August 20th. Finally, Bank of America cut Bancolombia from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $38.00 to $34.00 in a research report on Thursday, August 29th.

Bancolombia Trading Up 1.7 %

Shares of CIB stock opened at $32.82 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.40. The stock has a fifty day simple moving average of $32.04 and a two-hundred day simple moving average of $33.10. Bancolombia S.A. has a 52-week low of $26.38 and a 52-week high of $37.85.

Bancolombia (NYSE:CIB) last announced its quarterly earnings results on Thursday, August 8th. The bank reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.01. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.82 billion. Bancolombia had a net margin of 13.73% and a return on equity of 15.68%. As a group, analysts forecast that Bancolombia S.A. will post 5.99 earnings per share for the current fiscal year.

Bancolombia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.8456 per share. The ex-dividend date was Friday, September 27th. This represents a $3.38 dividend on an annualized basis and a dividend yield of 10.31%. Bancolombia’s payout ratio is 52.28%.

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.