Short Interest in Bancolombia S.A. (NYSE:CIB) Decreases By 57.0%

Bancolombia S.A. (NYSE:CIB) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 184,600 shares, a decrease of 57.0% from the March 15th total of 429,500 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily volume of 466,200 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analysts Forecast Growth

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

Bancolombia Stock Performance

Shares of CIB stock opened at $39.02 on Wednesday. Bancolombia has a 52-week low of $30.25 and a 52-week high of $44.93. The stock’s 50-day moving average price is $41.16 and its 200 day moving average price is $35.81. 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 stock has a market capitalization of $9.38 billion, a PE ratio of 6.19, a price-to-earnings-growth ratio of 2.47 and a beta of 0.85.

Bancolombia (NYSE:CIB) last released its earnings results 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 return on equity of 14.61% and a net margin of 14.14%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.41 billion. As a group, equities research analysts forecast that Bancolombia will post 6 EPS for the current year.

Bancolombia Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Monday, March 31st were paid a $3.8119 dividend. This represents a $15.25 annualized dividend and a dividend yield of 39.08%. The ex-dividend date of this dividend was Monday, March 31st. This is a boost from Bancolombia’s previous quarterly dividend of $0.80. Bancolombia’s dividend payout ratio (DPR) is 235.56%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quantinno Capital Management LP purchased a new stake in Bancolombia in the 3rd quarter valued at approximately $245,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Bancolombia in the third quarter valued at approximately $2,667,000. Ballentine Partners LLC grew its holdings in Bancolombia by 6.5% during the fourth quarter. Ballentine Partners LLC now owns 11,209 shares of the bank’s stock worth $353,000 after acquiring an additional 680 shares during the period. BSW Wealth Partners raised its position in Bancolombia by 7.9% in the fourth quarter. BSW Wealth Partners now owns 17,932 shares of the bank’s stock worth $565,000 after acquiring an additional 1,306 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Bancolombia in the fourth quarter valued at $121,000.

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.