Bancolombia S.A. (NYSE:CIB) Shares Bought by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. lifted its stake in shares of Bancolombia S.A. (NYSE:CIB) by 16.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,675 shares of the bank’s stock after acquiring an additional 3,925 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Bancolombia were worth $904,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in shares of Bancolombia by 164.9% during the 4th quarter. Parallel Advisors LLC now owns 2,069 shares of the bank’s stock valued at $64,000 after purchasing an additional 1,288 shares during the period. Virtus Investment Advisers Inc. bought a new stake in Bancolombia in the first quarter worth about $89,000. V Square Quantitative Management LLC acquired a new stake in Bancolombia in the 4th quarter valued at about $117,000. Barometer Capital Management Inc. bought a new position in shares of Bancolombia during the 4th quarter valued at about $123,000. Finally, Signaturefd LLC grew its stake in shares of Bancolombia by 10.6% in the 2nd quarter. Signaturefd LLC now owns 5,053 shares of the bank’s stock worth $165,000 after purchasing an additional 484 shares during the last quarter.

Bancolombia Price Performance

CIB opened at $31.57 on Wednesday. The stock has a fifty day moving average price of $32.89 and a 200 day moving average price of $33.63. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.40. Bancolombia S.A. has a 1 year low of $24.15 and a 1 year high of $37.85. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of 4.97, a PEG ratio of 3.16 and a beta of 1.23.

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 the consensus estimate of $1.43 by $0.01. Bancolombia had a return on equity of 15.68% and a net margin of 13.73%. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.82 billion. Analysts forecast that Bancolombia S.A. will post 5.99 EPS for the current fiscal year.

Bancolombia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.8456 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.38 annualized dividend and a dividend yield of 10.71%. Bancolombia’s dividend payout ratio (DPR) is 53.62%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CIB shares. The Goldman Sachs Group cut Bancolombia from a “neutral” rating to a “sell” rating and dropped their price target for the company from $34.00 to $32.00 in a report on Tuesday, August 20th. Bank of America downgraded Bancolombia from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $38.00 to $34.00 in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. dropped their price target on Bancolombia from $36.00 to $35.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat, Bancolombia currently has a consensus rating of “Reduce” and an average price target of $32.40.

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.