Parallel Advisors LLC Cuts Stake in BanColombia S.A. $CIB

Parallel Advisors LLC cut its stake in shares of BanColombia S.A. (NYSE:CIB) by 8.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,924 shares of the bank’s stock after selling 473 shares during the quarter. Parallel Advisors LLC’s holdings in BanColombia were worth $227,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. SVB Wealth LLC purchased a new stake in shares of BanColombia during the first quarter valued at $45,000. Aberdeen Group plc purchased a new stake in shares of BanColombia during the first quarter valued at $201,000. Whipplewood Advisors LLC grew its holdings 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 valued at $209,000 after buying an additional 5,089 shares during the last quarter. Malaga Cove Capital LLC purchased a new stake in shares of BanColombia during the first quarter valued at $209,000. Finally, Aigen Investment Management LP purchased a new stake in shares of BanColombia during the first quarter valued at $241,000.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CIB shares. UBS Group restated a “neutral” rating and set a $38.00 target price (up from $35.00) on shares of BanColombia in a research report on Monday, June 2nd. Bank of America restated an “underperform” rating on shares of BanColombia in a research report on Thursday, September 11th. Finally, Zacks Research downgraded shares of BanColombia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $43.75.

BanColombia Stock Up 0.7%

CIB opened at $51.93 on Monday. BanColombia S.A. has a twelve month low of $30.65 and a twelve month high of $53.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average price of $48.25 and a 200 day moving average price of $44.21. The company has a market cap of $12.49 billion, a PE ratio of 7.88, a price-to-earnings-growth ratio of 1.03 and a beta of 0.96.

BanColombia (NYSE:CIB) last announced its quarterly earnings data 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. The company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.75 billion. BanColombia had a net margin of 15.30% and a return on equity of 19.77%. 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.