Grantham Mayo Van Otterloo & Co. LLC Decreases Stock Position in Bancolombia S.A. (NYSE:CIB)

Grantham Mayo Van Otterloo & Co. LLC trimmed its holdings in shares of Bancolombia S.A. (NYSE:CIB) by 33.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 181,805 shares of the bank’s stock after selling 92,500 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.08% of Bancolombia worth $5,729,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Lindbrook Capital LLC increased its holdings in Bancolombia by 74.7% in the 4th quarter. Lindbrook Capital LLC now owns 968 shares of the bank’s stock worth $31,000 after buying an additional 414 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Bancolombia by 41.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank’s stock valued at $72,000 after purchasing an additional 657 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Bancolombia in the 4th quarter worth approximately $89,000. R Squared Ltd purchased a new position in shares of Bancolombia in the fourth quarter worth approximately $121,000. Finally, V Square Quantitative Management LLC grew its position in Bancolombia by 126.1% during the fourth quarter. V Square Quantitative Management LLC now owns 5,288 shares of the bank’s stock valued at $169,000 after buying an additional 2,949 shares during the period.

Bancolombia Stock Performance

NYSE CIB opened at $40.05 on Monday. 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 S.A. has a twelve month low of $30.25 and a twelve month high of $44.93. The business has a 50-day moving average price of $41.43 and a 200-day moving average price of $35.52. The firm has a market cap of $9.63 billion, a price-to-earnings ratio of 6.36, a price-to-earnings-growth ratio of 2.47 and a beta of 0.85.

Bancolombia (NYSE:CIB) last announced its quarterly earnings data on Thursday, February 20th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.22. Bancolombia had a net margin of 14.14% and a return on equity of 14.61%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.41 billion. As a group, equities research analysts predict that Bancolombia S.A. will post 6 EPS for the current fiscal year.

Bancolombia Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be given a dividend of $3.8119 per share. This is a positive change from Bancolombia’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Monday, March 31st. This represents a $15.25 dividend on an annualized basis and a dividend yield of 38.07%. Bancolombia’s dividend payout ratio (DPR) is presently 235.56%.

Wall Street Analysts Forecast Growth

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