308,611 Shares in Bancolombia S.A. (NYSE:CIB) Purchased by GQG Partners LLC

GQG Partners LLC purchased a new position in Bancolombia S.A. (NYSE:CIB) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 308,611 shares of the bank’s stock, valued at approximately $9,724,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Lindbrook Capital LLC raised its holdings in shares of Bancolombia by 74.7% in the 4th quarter. Lindbrook Capital LLC now owns 968 shares of the bank’s stock worth $31,000 after purchasing an additional 414 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Bancolombia by 41.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank’s stock valued at $72,000 after buying an additional 657 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Bancolombia in the fourth quarter valued at $89,000. R Squared Ltd acquired a new stake in shares of Bancolombia during the 4th quarter valued at $121,000. Finally, V Square Quantitative Management LLC boosted its stake in shares of Bancolombia by 126.1% during the 4th quarter. V Square Quantitative Management LLC now owns 5,288 shares of the bank’s stock worth $169,000 after acquiring an additional 2,949 shares in the last quarter.

Bancolombia Stock Performance

Shares of CIB stock opened at $43.18 on Tuesday. The company has a market capitalization of $10.38 billion, a price-to-earnings ratio of 6.85, a P/E/G ratio of 2.47 and a beta of 1.22. Bancolombia S.A. has a 1-year low of $30.25 and a 1-year high of $44.25. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. The stock’s fifty day simple moving average is $39.73 and its 200-day simple moving average is $34.84.

Bancolombia (NYSE:CIB) last released its earnings results on Thursday, February 20th. The bank reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.22. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Bancolombia had a return on equity of 14.61% and a net margin of 14.14%. On average, sell-side analysts predict that Bancolombia S.A. will post 6 earnings per share for the current fiscal year.

Bancolombia Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be paid a $3.8119 dividend. This represents a $15.25 annualized dividend and a yield of 35.31%. The ex-dividend date is Monday, March 31st. This is a positive change from Bancolombia’s previous quarterly dividend of $0.80. Bancolombia’s dividend payout ratio is currently 241.90%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Morgan Stanley raised Bancolombia from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $53.00 in a report on Tuesday, January 28th. The Goldman Sachs Group upped their price objective on shares of Bancolombia from $31.00 to $35.00 and gave the company a “sell” rating in a research note on Monday, February 24th.

Bancolombia Company 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.