Bancolombia (NYSE:CIB) Sees Large Volume Increase – Still a Buy?

Bancolombia S.A. (NYSE:CIB) saw strong trading volume on Friday . 313,899 shares were traded during trading, an increase of 14% from the previous session’s volume of 276,337 shares.The stock last traded at $35.24 and had previously closed at $34.43.

Bancolombia Trading Up 3.3 %

The stock has a 50-day moving average of $32.47 and a 200 day moving average of $32.48. The stock has a market cap of $8.55 billion, a PE ratio of 5.64, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.34.

Bancolombia Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were paid a dividend of $0.8044 per share. This represents a $3.22 annualized dividend and a dividend yield of 9.05%. The ex-dividend date of this dividend was Monday, December 30th. Bancolombia’s payout ratio is 50.71%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its holdings in shares of Bancolombia by 12.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,323,482 shares of the bank’s stock worth $41,531,000 after purchasing an additional 150,022 shares during the period. Wellington Management Group LLP acquired a new stake in Bancolombia in the 3rd quarter valued at about $8,208,000. Renaissance Technologies LLC raised its position in shares of Bancolombia by 117.2% during the 2nd quarter. Renaissance Technologies LLC now owns 139,200 shares of the bank’s stock worth $4,545,000 after acquiring an additional 75,100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Bancolombia by 7.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 128,546 shares of the bank’s stock worth $4,034,000 after acquiring an additional 8,432 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in Bancolombia by 3.0% during the second quarter. Cubist Systematic Strategies LLC now owns 121,479 shares of the bank’s stock worth $3,966,000 after buying an additional 3,578 shares during the period.

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.