Barrow Hanley Mewhinney & Strauss LLC Sells 141,170 Shares of Bancolombia S.A. (NYSE:CIB)

Barrow Hanley Mewhinney & Strauss LLC lessened its stake in shares of Bancolombia S.A. (NYSE:CIB) by 10.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,237,084 shares of the bank’s stock after selling 141,170 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned 0.51% of Bancolombia worth $38,981,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CIB. Truffle Hound Capital LLC acquired a new stake in shares of Bancolombia during the 4th quarter worth approximately $11,028,000. GQG Partners LLC bought a new stake in Bancolombia during the fourth quarter worth $9,724,000. Wellington Management Group LLP acquired a new stake in shares of Bancolombia in the 3rd quarter valued at $8,208,000. JPMorgan Chase & Co. increased its stake in shares of Bancolombia by 40.0% in the 4th quarter. JPMorgan Chase & Co. now owns 484,281 shares of the bank’s stock valued at $15,260,000 after purchasing an additional 138,461 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Bancolombia by 12.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 928,679 shares of the bank’s stock worth $29,263,000 after buying an additional 102,015 shares in the last quarter.

Analysts Set New Price Targets

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

Bancolombia Stock Performance

NYSE:CIB opened at $43.77 on Monday. The stock’s 50-day moving average is $40.66 and its 200-day moving average is $35.19. Bancolombia S.A. has a 1-year low of $30.25 and a 1-year high of $44.93. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. The stock has a market cap of $10.52 billion, a P/E ratio of 6.95, a price-to-earnings-growth ratio of 2.47 and a beta of 1.22.

Bancolombia (NYSE:CIB) last posted its 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. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.41 billion. Bancolombia had a net margin of 14.14% and a return on equity of 14.61%. Equities research analysts anticipate that Bancolombia S.A. will post 6 earnings per share for the current year.

Bancolombia Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors 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. This represents a $15.25 annualized dividend and a yield of 34.84%. The ex-dividend date is Monday, March 31st. Bancolombia’s dividend payout ratio (DPR) is currently 241.90%.

Bancolombia 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.