Mitsubishi UFJ Trust & Banking Corp Grows Stock Holdings in Bancolombia S.A. (NYSE:CIB)

Mitsubishi UFJ Trust & Banking Corp raised its holdings in Bancolombia S.A. (NYSE:CIB) by 27.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 59,288 shares of the bank’s stock after acquiring an additional 12,829 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Bancolombia were worth $1,868,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Bancolombia by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 3,099,224 shares of the bank’s stock valued at $97,657,000 after purchasing an additional 19,499 shares during the last quarter. Amundi grew its holdings in Bancolombia by 2.1% in the 4th quarter. Amundi now owns 362,391 shares of the bank’s stock valued at $11,741,000 after buying an additional 7,386 shares during the period. Truffle Hound Capital LLC acquired a new position in shares of Bancolombia during the 4th quarter valued at about $11,028,000. GQG Partners LLC purchased a new position in shares of Bancolombia during the 4th quarter worth about $9,724,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Bancolombia in the third quarter worth approximately $8,208,000.

Bancolombia Price Performance

CIB opened at $41.35 on Wednesday. Bancolombia S.A. has a 52-week low of $30.25 and a 52-week high of $44.93. The company has a 50 day moving average of $41.00 and a two-hundred day moving average of $35.32. The company has a market cap of $9.94 billion, a P/E ratio of 6.56, a P/E/G ratio of 2.47 and a beta of 1.22. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.60.

Bancolombia (NYSE:CIB) last announced its quarterly earnings results on Thursday, February 20th. The bank reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.22. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Bancolombia had a net margin of 14.14% and a return on equity of 14.61%. On average, analysts expect that Bancolombia S.A. will post 6 earnings per share for the current year.

Bancolombia Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be given a dividend of $3.8119 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Bancolombia’s previous quarterly dividend of $0.80. This represents a $15.25 annualized dividend and a yield of 36.88%. Bancolombia’s payout ratio is 241.90%.

Analyst Ratings Changes

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

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.