Bancolombia S.A. (NYSE:CIB) Sees Large Growth in Short Interest

Bancolombia S.A. (NYSE:CIB) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 295,800 shares, a growth of 10.4% from the August 31st total of 268,000 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average daily volume of 241,800 shares, the days-to-cover ratio is currently 1.2 days.

Hedge Funds Weigh In On Bancolombia

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Leith Wheeler Investment Counsel Ltd. purchased a new stake in Bancolombia during the first quarter worth approximately $1,519,000. Capital Wealth Planning LLC purchased a new stake in Bancolombia during the first quarter worth approximately $2,080,000. Ballentine Partners LLC purchased a new stake in Bancolombia during the first quarter worth approximately $448,000. PNC Financial Services Group Inc. lifted its stake in Bancolombia by 6.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,644 shares of the bank’s stock worth $297,000 after purchasing an additional 599 shares during the last quarter. Finally, Atlas Capital Advisors LLC lifted its stake in Bancolombia by 578.1% during the first quarter. Atlas Capital Advisors LLC now owns 12,368 shares of the bank’s stock worth $423,000 after purchasing an additional 10,544 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CIB shares. The Goldman Sachs Group downgraded Bancolombia from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $34.00 to $32.00 in a research report on Tuesday, August 20th. Bank of America downgraded Bancolombia from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $38.00 to $34.00 in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. dropped their target price on Bancolombia from $36.00 to $35.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $32.40.

Bancolombia Trading Down 0.4 %

NYSE CIB traded down $0.14 during trading on Tuesday, hitting $31.24. The stock had a trading volume of 307,372 shares, compared to its average volume of 268,169. The company has a market capitalization of $7.51 billion, a PE ratio of 4.91, a PEG ratio of 3.25 and a beta of 1.23. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average price of $32.55 and a 200 day moving average price of $33.59. Bancolombia has a twelve month low of $24.15 and a twelve month high of $37.85.

Bancolombia (NYSE:CIB) last announced its quarterly earnings data on Thursday, August 8th. The bank reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.01. The business had revenue of $1.77 billion during 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%. As a group, equities research analysts forecast that Bancolombia will post 5.99 earnings per share for the current year.

Bancolombia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.8456 dividend. This represents a $3.38 annualized dividend and a dividend yield of 10.83%. The ex-dividend date of this dividend is Friday, September 27th. Bancolombia’s payout ratio is presently 53.14%.

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.