Connor Clark & Lunn Investment Management Ltd. Decreases Stake in Bancolombia S.A. (NYSE:CIB)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Bancolombia S.A. (NYSE:CIB) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,432 shares of the bank’s stock after selling 8,750 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.07% of Bancolombia worth $5,181,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Amundi boosted its stake in shares of Bancolombia by 2.1% in the fourth quarter. Amundi now owns 362,391 shares of the bank’s stock valued at $11,741,000 after buying an additional 7,386 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Bancolombia in the third quarter valued at approximately $8,208,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Bancolombia by 7.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 128,546 shares of the bank’s stock valued at $4,034,000 after buying an additional 8,432 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Bancolombia in the fourth quarter valued at approximately $3,104,000. Finally, Capital Wealth Planning LLC boosted its position in Bancolombia by 8.8% during the fourth quarter. Capital Wealth Planning LLC now owns 96,850 shares of the bank’s stock worth $3,052,000 after purchasing an additional 7,856 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have commented on CIB shares. The Goldman Sachs Group boosted their target price 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 upgraded Bancolombia from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $53.00 in a research report on Tuesday, January 28th.

Bancolombia Stock Up 3.8 %

CIB opened at $43.15 on Monday. The business’s fifty day moving average is $38.46 and its two-hundred day moving average is $34.41. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.05. The company has a market cap of $10.37 billion, a price-to-earnings ratio of 6.85, a PEG ratio of 2.47 and a beta of 1.22. Bancolombia S.A. has a one year low of $30.25 and a one year high of $44.25.

Bancolombia (NYSE:CIB) last released its quarterly earnings results on Thursday, February 20th. The bank reported $1.57 earnings per share for the quarter, topping 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 company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Analysts anticipate that Bancolombia S.A. will post 6 EPS for the current fiscal year.

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.