Invesco Ltd. Lowers Position in BanColombia S.A. $CIB

Invesco Ltd. decreased its holdings in shares of BanColombia S.A. (NYSE:CIB) by 16.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,784 shares of the bank’s stock after selling 13,849 shares during the quarter. Invesco Ltd.’s holdings in BanColombia were worth $2,846,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CIB. Whipplewood Advisors LLC raised its stake in shares of BanColombia by 4,800.9% during the first quarter. Whipplewood Advisors LLC now owns 5,195 shares of the bank’s stock worth $209,000 after acquiring an additional 5,089 shares in the last quarter. Malaga Cove Capital LLC bought a new stake in BanColombia in the first quarter worth $209,000. JBF Capital Inc. purchased a new stake in BanColombia during the first quarter valued at about $241,000. Mercer Global Advisors Inc. ADV grew its stake in shares of BanColombia by 16.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,824 shares of the bank’s stock valued at $247,000 after buying an additional 1,085 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of BanColombia by 14.3% during the first quarter. US Bancorp DE now owns 6,394 shares of the bank’s stock valued at $257,000 after buying an additional 800 shares during the last quarter.

Analysts Set New Price Targets

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

BanColombia Trading Up 1.2%

NYSE:CIB opened at $50.40 on Friday. The company has a 50-day moving average price of $46.30 and a 200-day moving average price of $43.14. The stock has a market cap of $12.12 billion, a price-to-earnings ratio of 7.65, a P/E/G ratio of 1.00 and a beta of 0.92. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.29. BanColombia S.A. has a 12 month low of $30.65 and a 12 month high of $50.60.

BanColombia (NYSE:CIB) last announced its quarterly earnings results on Thursday, August 7th. The bank reported $1.79 earnings per share (EPS) for the quarter, beating 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. Equities analysts predict that BanColombia S.A. will post 6 EPS for the current 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.