Lesa Sroufe & Co Takes $2.22 Million Position in Bancolombia S.A. (NYSE:CIB)

Lesa Sroufe & Co acquired a new stake in shares of Bancolombia S.A. (NYSE:CIB) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 64,784 shares of the bank’s stock, valued at approximately $2,217,000. Bancolombia makes up approximately 2.1% of Lesa Sroufe & Co’s portfolio, making the stock its 21st biggest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of CIB. Banco BTG Pactual S.A. acquired a new position in Bancolombia in the 4th quarter worth approximately $3,017,000. Sei Investments Co. grew its stake in shares of Bancolombia by 16.3% during the 3rd quarter. Sei Investments Co. now owns 686,161 shares of the bank’s stock worth $18,307,000 after purchasing an additional 96,247 shares during the period. INCA Investments LLC grew its stake in shares of Bancolombia by 21.9% during the 4th quarter. INCA Investments LLC now owns 518,072 shares of the bank’s stock worth $15,941,000 after purchasing an additional 93,238 shares during the period. Nordea Investment Management AB grew its stake in shares of Bancolombia by 52.4% during the 4th quarter. Nordea Investment Management AB now owns 214,223 shares of the bank’s stock worth $6,613,000 after purchasing an additional 73,656 shares during the period. Finally, Perpetual Ltd lifted its position in shares of Bancolombia by 122.5% during the 1st quarter. Perpetual Ltd now owns 121,850 shares of the bank’s stock valued at $4,170,000 after buying an additional 67,092 shares in the last quarter.

Bancolombia Stock Down 0.2 %

CIB stock traded down $0.06 during midday trading on Thursday, reaching $34.17. The stock had a trading volume of 157,791 shares, compared to its average volume of 285,108. The company’s fifty day simple moving average is $34.28 and its 200 day simple moving average is $33.27. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.39. Bancolombia S.A. has a 52-week low of $24.15 and a 52-week high of $37.85.

Bancolombia (NYSE:CIB) last announced its quarterly earnings data on Thursday, May 9th. The bank reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.33. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates 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 firm posted $1.54 EPS. Equities analysts expect that Bancolombia S.A. will post 5.98 EPS for the current fiscal year.

Bancolombia Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Thursday, June 27th will be issued a $0.898 dividend. The ex-dividend date is Thursday, June 27th. This represents a $3.59 dividend on an annualized basis and a yield of 10.51%. This is a positive change from Bancolombia’s previous quarterly dividend of $0.81. Bancolombia’s dividend payout ratio (DPR) is presently 53.77%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CIB. Bank of America began coverage on Bancolombia in a research report on Thursday, May 2nd. They set a “neutral” rating and a $38.00 target price on the stock. JPMorgan Chase & Co. increased their target price on Bancolombia from $35.00 to $36.00 and gave the company an “underweight” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $33.32.

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.