American Century Companies Inc. Purchases 6,776 Shares of BanColombia S.A. $CIB

American Century Companies Inc. raised its position in shares of BanColombia S.A. (NYSE:CIB) by 7.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 103,666 shares of the bank’s stock after purchasing an additional 6,776 shares during the quarter. American Century Companies Inc.’s holdings in BanColombia were worth $4,167,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Aberdeen Group plc purchased a new position in shares of BanColombia in the first quarter worth approximately $201,000. Liontrust Investment Partners LLP lifted its holdings in BanColombia by 26.3% during the first quarter. Liontrust Investment Partners LLP now owns 12,000 shares of the bank’s stock valued at $482,000 after purchasing an additional 2,500 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in BanColombia by 18.0% during the first quarter. Russell Investments Group Ltd. now owns 330,931 shares of the bank’s stock valued at $13,303,000 after purchasing an additional 50,409 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of BanColombia in the first quarter worth $241,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of BanColombia by 7.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 176,281 shares of the bank’s stock worth $7,086,000 after buying an additional 11,849 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently commented on CIB. Bank of America raised shares of BanColombia from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $41.00 to $49.00 in a report on Thursday, August 7th. UBS Group reissued a “neutral” rating and issued a $38.00 target price (up previously from $35.00) on shares of BanColombia in a report on Monday, June 2nd. Finally, Zacks Research downgraded shares of BanColombia from a “strong-buy” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $43.75.

BanColombia Trading Up 1.2%

Shares of CIB opened at $50.40 on Friday. The company’s fifty day moving average is $46.30 and its 200 day moving average is $43.14. BanColombia S.A. has a fifty-two week low of $30.65 and a fifty-two week high of $50.60. The stock has a market capitalization of $12.12 billion, a PE ratio of 7.65, a P/E/G ratio of 1.00 and a beta of 0.92. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.00 and a current ratio of 1.00.

BanColombia (NYSE:CIB) last announced its quarterly earnings results on Thursday, August 7th. The bank reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.13. BanColombia had a net margin of 15.30% and a return on equity of 19.77%. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Sell-side analysts expect that BanColombia S.A. will post 6 earnings per share for the current fiscal year.

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.