Robeco Institutional Asset Management B.V. Boosts Stake in Bancolombia S.A. (NYSE:CIB)

Robeco Institutional Asset Management B.V. lifted its holdings in Bancolombia S.A. (NYSE:CIB) by 12.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,323,482 shares of the bank’s stock after acquiring an additional 150,022 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Bancolombia were worth $41,531,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Capital Wealth Planning LLC bought a new position in Bancolombia during the first quarter valued at about $2,080,000. Leith Wheeler Investment Counsel Ltd. bought a new position in shares of Bancolombia during the 1st quarter valued at approximately $1,519,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Bancolombia during the 2nd quarter worth approximately $506,000. Renaissance Technologies LLC raised its holdings in shares of Bancolombia by 117.2% in the 2nd quarter. Renaissance Technologies LLC now owns 139,200 shares of the bank’s stock worth $4,545,000 after purchasing an additional 75,100 shares during the period. Finally, M&G Plc purchased a new position in Bancolombia in the first quarter valued at approximately $10,299,000.

Bancolombia Stock Performance

NYSE:CIB opened at $32.22 on Wednesday. Bancolombia S.A. has a 1 year low of $26.35 and a 1 year high of $37.85. The stock’s fifty day moving average price is $32.05 and its two-hundred day moving average price is $33.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.03 and a current ratio of 1.03.

Bancolombia (NYSE:CIB) last issued its quarterly earnings data on Thursday, August 8th. The bank reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.01. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Bancolombia had a return on equity of 15.68% and a net margin of 13.73%. On average, research analysts anticipate that Bancolombia S.A. will post 5.99 earnings per share for the current year.

Bancolombia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a dividend of $0.8456 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.38 annualized dividend and a yield of 10.50%. Bancolombia’s dividend payout ratio is currently 52.28%.

Wall Street Analysts Forecast Growth

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

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.