Stokes Family Office LLC Cuts Stock Position in Bancolombia S.A. (NYSE:CIB)

Stokes Family Office LLC lessened its holdings in Bancolombia S.A. (NYSE:CIB) by 1.9% in the first quarter, Holdings Channel reports. The firm owned 25,410 shares of the bank’s stock after selling 480 shares during the period. Stokes Family Office LLC’s holdings in Bancolombia were worth $870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CIB. Nordea Investment Management AB increased its position in Bancolombia by 52.4% in the fourth quarter. Nordea Investment Management AB now owns 214,223 shares of the bank’s stock worth $6,613,000 after buying an additional 73,656 shares during the last quarter. Gladstone Institutional Advisory LLC bought a new stake in Bancolombia in the 4th quarter valued at about $218,000. Ballentine Partners LLC bought a new position in Bancolombia during the first quarter worth about $448,000. PNC Financial Services Group Inc. increased its stake in shares of Bancolombia by 6.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,644 shares of the bank’s stock worth $297,000 after purchasing an additional 599 shares in the last quarter. Finally, Banco BTG Pactual S.A. bought a new stake in shares of Bancolombia in the fourth quarter valued at approximately $3,017,000.

Analyst Upgrades and Downgrades

Several research firms recently commented on CIB. JPMorgan Chase & Co. raised their price objective on shares of Bancolombia from $35.00 to $36.00 and gave the stock an “underweight” rating in a report on Wednesday. Bank of America assumed coverage on Bancolombia in a report on Thursday, May 2nd. They issued a “neutral” rating and a $38.00 price target for the company. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, Bancolombia currently has a consensus rating of “Hold” and an average target price of $33.32.

Bancolombia Price Performance

Bancolombia stock traded up $0.34 during midday trading on Friday, reaching $34.51. 144,736 shares of the stock were exchanged, compared to its average volume of 284,052. The company’s fifty day moving average is $34.29 and its 200-day moving average is $33.30. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.04 and a current ratio of 1.04. Bancolombia S.A. has a 52 week low of $24.15 and a 52 week high of $37.85.

Bancolombia (NYSE:CIB) last issued its quarterly earnings data on Thursday, May 9th. The bank reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.33. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $1.81 billion. Bancolombia had a return on equity of 17.33% and a net margin of 13.64%. During the same quarter last year, the business posted $1.54 earnings per share. As a group, equities analysts forecast that Bancolombia S.A. will post 5.98 EPS for the current year.

Bancolombia Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Thursday, June 27th will be given a $0.898 dividend. This represents a $3.59 annualized dividend and a dividend yield of 10.41%. This is a boost from Bancolombia’s previous quarterly dividend of $0.81. The ex-dividend date is Thursday, June 27th. Bancolombia’s dividend payout ratio is 53.77%.

Bancolombia Profile

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.