Bancolombia S.A. (NYSE:CIB) Short Interest Update

Bancolombia S.A. (NYSE:CIB) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 175,700 shares, a growth of 8.7% from the October 15th total of 161,600 shares. Based on an average trading volume of 250,900 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.2% of the company’s stock are sold short.

Institutional Investors Weigh In On Bancolombia

A number of institutional investors and hedge funds have recently modified their holdings of CIB. Measured Wealth Private Client Group LLC raised its position in Bancolombia by 6.4% during the third quarter. Measured Wealth Private Client Group LLC now owns 7,800 shares of the bank’s stock valued at $245,000 after acquiring an additional 471 shares in the last quarter. Stokes Family Office LLC increased its stake in shares of Bancolombia by 1.9% in the 2nd quarter. Stokes Family Office LLC now owns 25,883 shares of the bank’s stock valued at $845,000 after purchasing an additional 473 shares in the last quarter. Signaturefd LLC raised its holdings in 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 period. Blue Trust Inc. boosted its position in Bancolombia by 96.5% during the third quarter. Blue Trust Inc. now owns 1,305 shares of the bank’s stock worth $43,000 after purchasing an additional 641 shares in the last quarter. Finally, US Bancorp DE grew its holdings in Bancolombia by 18.9% in the third quarter. US Bancorp DE now owns 5,282 shares of the bank’s stock valued at $166,000 after purchasing an additional 839 shares during the period.

Analyst Upgrades and Downgrades

CIB has been the topic of a number of recent research reports. The Goldman Sachs Group downgraded Bancolombia from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $34.00 to $32.00 in a research report on Tuesday, August 20th. Bank of America lowered shares of Bancolombia from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $38.00 to $34.00 in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Bancolombia from $36.00 to $35.00 and set an “underweight” rating for the company in a research note on Monday, August 12th.

Bancolombia Trading Up 3.3 %

Shares of CIB traded up $1.04 during mid-day trading on Monday, hitting $32.82. 338,924 shares of the company traded hands, compared to its average volume of 267,220. The business has a 50 day moving average of $31.91 and a 200 day moving average of $33.07. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.00 and a current ratio of 1.00. Bancolombia has a 1-year low of $26.72 and a 1-year high of $37.85.

Bancolombia Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.8456 dividend. The ex-dividend date was Friday, September 27th. This represents a $3.38 dividend on an annualized basis and a yield of 10.31%. Bancolombia’s dividend payout ratio (DPR) is 52.61%.

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.