64,784 Shares in Bancolombia S.A. (NYSE:CIB) Bought by Lesa Sroufe & Co

Lesa Sroufe & Co bought a new position in shares of Bancolombia S.A. (NYSE:CIB) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 64,784 shares of the bank’s stock, valued at approximately $2,217,000. Bancolombia comprises about 2.1% of Lesa Sroufe & Co’s holdings, making the stock its 21st largest position.

A number of other hedge funds have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Bancolombia by 7.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 120,114 shares of the bank’s stock worth $4,110,000 after buying an additional 8,571 shares during the last quarter. Atlas Capital Advisors LLC grew its holdings in Bancolombia by 578.1% in 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 period. Ballentine Partners LLC acquired a new stake in Bancolombia in the first quarter worth $448,000. Perpetual Ltd grew its holdings in Bancolombia by 122.5% in the first quarter. Perpetual Ltd now owns 121,850 shares of the bank’s stock worth $4,170,000 after purchasing an additional 67,092 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in Bancolombia in the fourth quarter worth $619,000.

Bancolombia Stock Performance

Shares of NYSE CIB traded down $0.06 during mid-day trading on Thursday, reaching $34.17. 157,791 shares of the company’s stock traded hands, compared to its average volume of 285,108. The business has a 50-day simple moving average of $34.28 and a 200 day simple moving average of $33.27. Bancolombia S.A. has a 1-year low of $24.15 and a 1-year high of $37.85. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.39.

Bancolombia (NYSE:CIB) last issued its quarterly earnings data on Thursday, May 9th. The bank reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.33. Bancolombia had a net margin of 13.64% and a return on equity of 17.33%. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the prior year, the firm posted $1.54 EPS. As a group, sell-side analysts anticipate that Bancolombia S.A. will post 5.98 EPS for the current fiscal year.

Bancolombia Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Thursday, June 27th will be given a $0.898 dividend. This represents a $3.59 dividend on an annualized basis and a yield of 10.51%. This is an increase from Bancolombia’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Thursday, June 27th. Bancolombia’s dividend payout ratio is presently 53.77%.

Analyst Upgrades and Downgrades

CIB has been the subject of a number of research reports. Bank of America initiated coverage on shares of Bancolombia in a report on Thursday, May 2nd. They issued a “neutral” rating and a $38.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Bancolombia from $35.00 to $36.00 and gave the stock an “underweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $33.32.

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.