Thomas J. Herzfeld Advisors Inc. Cuts Stake in Bancolombia SA (NYSE:CIB)

Thomas J. Herzfeld Advisors Inc. cut its position in Bancolombia SA (NYSE:CIB) by 7.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,280 shares of the bank’s stock after selling 1,500 shares during the period. Thomas J. Herzfeld Advisors Inc.’s holdings in Bancolombia were worth $933,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Lindbrook Capital LLC bought a new position in Bancolombia during the fourth quarter worth $31,000. BNP Paribas Arbitrage SA increased its stake in Bancolombia by 167.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 621 shares of the bank’s stock worth $32,000 after purchasing an additional 389 shares in the last quarter. Parallel Advisors LLC increased its stake in Bancolombia by 45.7% in the 1st quarter. Parallel Advisors LLC now owns 845 shares of the bank’s stock worth $43,000 after purchasing an additional 265 shares in the last quarter. Bartlett & Co. LLC purchased a new position in Bancolombia in the 1st quarter worth about $64,000. Finally, PNC Financial Services Group Inc. boosted its position in Bancolombia by 37.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,914 shares of the bank’s stock worth $73,000 after acquiring an additional 519 shares during the period. 7.31% of the stock is currently owned by institutional investors and hedge funds.

CIB traded down $0.51 on Friday, hitting $48.69. The company had a trading volume of 1,476 shares, compared to its average volume of 247,423. Bancolombia SA has a 1-year low of $35.52 and a 1-year high of $55.40. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $11.81 billion, a P/E ratio of 13.98 and a beta of 0.70.

Bancolombia (NYSE:CIB) last posted its earnings results on Thursday, May 9th. The bank reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.11. Bancolombia had a return on equity of 11.81% and a net margin of 15.03%. The firm had revenue of $1.09 billion during the quarter. As a group, analysts anticipate that Bancolombia SA will post 4.07 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Thursday, June 27th will be given a $0.3339 dividend. This represents a $1.34 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Wednesday, June 26th. Bancolombia’s dividend payout ratio is currently 36.78%.

Several equities research analysts recently weighed in on CIB shares. ValuEngine lowered Bancolombia from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Credit Suisse Group lowered Bancolombia from a “neutral” rating to an “underperform” rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. upgraded Bancolombia from an “underweight” rating to a “neutral” rating in a report on Monday, February 25th. Zacks Investment Research lowered Bancolombia from a “buy” rating to a “hold” rating in a report on Monday, May 13th. Finally, Citigroup upgraded Bancolombia from a “neutral” rating to a “buy” rating in a report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $54.00.

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About Bancolombia

Bancolombia SA provides various banking products and services to individual, corporate, and government customers in Colombia, Latin America, and the Caribbean region. The company operates in nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, Off Shore, and All Other.

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Institutional Ownership by Quarter for Bancolombia (NYSE:CIB)

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