INCA Investments LLC Raises Stock Holdings in Bancolombia S.A. (NYSE:CIB)

INCA Investments LLC grew its stake in Bancolombia S.A. (NYSE:CIB) by 21.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 518,072 shares of the bank’s stock after acquiring an additional 93,238 shares during the period. Bancolombia accounts for about 7.1% of INCA Investments LLC’s investment portfolio, making the stock its 6th biggest position. INCA Investments LLC’s holdings in Bancolombia were worth $15,941,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of CIB. Earnest Partners LLC increased its holdings in shares of Bancolombia by 14.2% in the third quarter. Earnest Partners LLC now owns 2,515,052 shares of the bank’s stock valued at $67,102,000 after purchasing an additional 312,502 shares in the last quarter. Sei Investments Co. increased its stake in shares of Bancolombia by 16.3% in the 3rd quarter. Sei Investments Co. now owns 686,161 shares of the bank’s stock valued at $18,307,000 after buying an additional 96,247 shares during the period. Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Bancolombia by 447.3% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 222,222 shares of the bank’s stock worth $5,929,000 after acquiring an additional 181,615 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Bancolombia by 52.4% during the fourth quarter. Nordea Investment Management AB now owns 214,223 shares of the bank’s stock valued at $6,613,000 after acquiring an additional 73,656 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Bancolombia by 6.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 111,543 shares of the bank’s stock valued at $3,432,000 after acquiring an additional 6,743 shares during the last quarter.

Bancolombia Stock Up 2.6 %

NYSE CIB traded up $0.86 on Monday, reaching $33.68. The company had a trading volume of 317,346 shares, compared to its average volume of 297,558. Bancolombia S.A. has a 52 week low of $23.12 and a 52 week high of $37.15. The stock’s 50 day moving average is $33.57 and its 200-day moving average is $30.69. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.38.

Bancolombia (NYSE:CIB) last posted its earnings results on Tuesday, February 20th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.26. Bancolombia had a return on equity of 18.46% and a net margin of 13.51%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.68 billion. As a group, analysts predict that Bancolombia S.A. will post 5.94 earnings per share for the current fiscal year.

Bancolombia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were issued a $0.8118 dividend. The ex-dividend date was Thursday, March 28th. This represents a $3.25 annualized dividend and a dividend yield of 9.64%. Bancolombia’s dividend payout ratio (DPR) is currently 59.34%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CIB. JPMorgan Chase & Co. boosted their price objective on Bancolombia from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. HSBC downgraded shares of Bancolombia from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.90.

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.