Short Interest in Bancolombia S.A. (NYSE:CIB) Grows By 101.0%

Bancolombia S.A. (NYSE:CIB) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 353,200 shares, an increase of 101.0% from the October 31st total of 175,700 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average trading volume of 268,500 shares, the short-interest ratio is presently 1.3 days.

Bancolombia Stock Performance

Shares of CIB stock traded up $0.33 during trading hours on Thursday, hitting $32.91. The company’s stock had a trading volume of 165,990 shares, compared to its average volume of 266,891. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average of $32.13 and a 200 day moving average of $33.02. Bancolombia has a 12-month low of $27.44 and a 12-month high of $37.85.

Bancolombia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a dividend of $0.8044 per share. This represents a $3.22 dividend on an annualized basis and a yield of 9.78%. The ex-dividend date is Monday, December 30th. Bancolombia’s dividend payout ratio is presently 52.61%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Bancolombia

A number of large investors have recently modified their holdings of CIB. Venturi Wealth Management LLC purchased a new stake in shares of Bancolombia in the third quarter valued at about $27,000. Blue Trust Inc. raised its holdings in Bancolombia by 96.5% during the third quarter. Blue Trust Inc. now owns 1,305 shares of the bank’s stock worth $43,000 after purchasing an additional 641 shares in the last quarter. Signaturefd LLC raised its holdings in Bancolombia by 10.6% during the second quarter. Signaturefd LLC now owns 5,053 shares of the bank’s stock worth $165,000 after purchasing an additional 484 shares in the last quarter. US Bancorp DE raised its holdings in Bancolombia by 18.9% during the third quarter. US Bancorp DE now owns 5,282 shares of the bank’s stock worth $166,000 after purchasing an additional 839 shares in the last quarter. Finally, AXA S.A. acquired a new stake in Bancolombia during the second quarter worth approximately $192,000.

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.