Arrowstreet Capital Limited Partnership Buys 102,015 Shares of Bancolombia S.A. (NYSE:CIB)

Arrowstreet Capital Limited Partnership grew its position in Bancolombia S.A. (NYSE:CIB) by 12.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 928,679 shares of the bank’s stock after acquiring an additional 102,015 shares during the period. Arrowstreet Capital Limited Partnership owned 0.39% of Bancolombia worth $29,263,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in Bancolombia by 40.0% in the fourth quarter. JPMorgan Chase & Co. now owns 484,281 shares of the bank’s stock valued at $15,260,000 after purchasing an additional 138,461 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in Bancolombia by 27.6% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 59,288 shares of the bank’s stock worth $1,868,000 after buying an additional 12,829 shares during the period. GQG Partners LLC bought a new stake in Bancolombia during the 4th quarter worth approximately $9,724,000. Vanguard Group Inc. increased its position in Bancolombia by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 3,099,224 shares of the bank’s stock valued at $97,657,000 after acquiring an additional 19,499 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Bancolombia by 6.9% during the fourth quarter. American Century Companies Inc. now owns 96,890 shares of the bank’s stock valued at $3,053,000 after acquiring an additional 6,243 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Bancolombia Price Performance

CIB stock opened at $41.97 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.60. The company’s fifty day simple moving average is $41.18 and its 200 day simple moving average is $35.36. Bancolombia S.A. has a 12-month low of $30.25 and a 12-month high of $44.93. The firm has a market cap of $10.09 billion, a price-to-earnings ratio of 6.66, a PEG ratio of 2.47 and a beta of 1.22.

Bancolombia (NYSE:CIB) last announced its earnings results on Thursday, February 20th. The bank reported $1.57 EPS 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 analyst estimates of $1.41 billion. Bancolombia had a return on equity of 14.61% and a net margin of 14.14%. On average, analysts expect that Bancolombia S.A. will post 6 earnings per share for the current year.

Bancolombia Increases Dividend

The firm 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 $3.8119 dividend. This is a boost from Bancolombia’s previous quarterly dividend of $0.80. The ex-dividend date is Monday, March 31st. This represents a $15.25 annualized dividend and a yield of 36.33%. Bancolombia’s dividend payout ratio (DPR) is presently 241.90%.

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.