Earnest Partners LLC Sells 63,298 Shares of Bancolombia SA (NYSE:CIB)

Earnest Partners LLC trimmed its position in Bancolombia SA (NYSE:CIB) by 2.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,398,263 shares of the bank’s stock after selling 63,298 shares during the period. Bancolombia accounts for 1.1% of Earnest Partners LLC’s investment portfolio, making the stock its 17th biggest position. Earnest Partners LLC’s holdings in Bancolombia were worth $122,407,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Lazard Asset Management LLC boosted its holdings in Bancolombia by 5.6% in the 1st quarter. Lazard Asset Management LLC now owns 2,971,359 shares of the bank’s stock valued at $151,717,000 after purchasing an additional 157,305 shares during the period. BlackRock Inc. boosted its holdings in Bancolombia by 103.9% in the 2nd quarter. BlackRock Inc. now owns 2,065,949 shares of the bank’s stock valued at $105,446,000 after purchasing an additional 1,052,496 shares during the period. Polaris Capital Management LLC boosted its holdings in Bancolombia by 0.9% in the 2nd quarter. Polaris Capital Management LLC now owns 1,970,290 shares of the bank’s stock valued at $100,564,000 after purchasing an additional 16,700 shares during the period. Wells Fargo & Company MN boosted its holdings in Bancolombia by 29.9% in the 1st quarter. Wells Fargo & Company MN now owns 1,513,332 shares of the bank’s stock valued at $77,271,000 after purchasing an additional 348,265 shares during the period. Finally, Investec Asset Management LTD boosted its holdings in Bancolombia by 56.0% in the 2nd quarter. Investec Asset Management LTD now owns 648,507 shares of the bank’s stock valued at $51,784,000 after purchasing an additional 232,793 shares during the period. 7.59% of the stock is owned by hedge funds and other institutional investors.

NYSE CIB opened at $50.86 on Friday. Bancolombia SA has a 52-week low of $35.52 and a 52-week high of $55.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $11.83 billion, a P/E ratio of 14.61 and a beta of 0.76. The company has a fifty day moving average of $49.92 and a 200-day moving average of $50.11.

Bancolombia (NYSE:CIB) last posted its quarterly earnings data on Monday, August 5th. The bank reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.16. Bancolombia had a net margin of 16.24% and a return on equity of 13.40%. The company had revenue of $1.16 billion during the quarter. As a group, analysts forecast that Bancolombia SA will post 4.05 EPS for the current fiscal year.

CIB has been the subject of several analyst reports. JPMorgan Chase & Co. raised shares of Bancolombia from a “neutral” rating to an “overweight” rating and raised their price target for the company from $48.00 to $55.00 in a report on Tuesday, August 6th. Credit Suisse Group raised shares of Bancolombia from an “underperform” rating to a “neutral” rating and set a $53.00 price target for the company in a report on Tuesday, August 6th. Zacks Investment Research downgraded shares of Bancolombia from a “buy” rating to a “hold” rating in a report on Monday. Finally, ValuEngine downgraded shares of Bancolombia from a “hold” rating to a “sell” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $55.00.

Bancolombia Company Profile

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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