Bancolombia S.A. (NYSE:CIB – Get Rating) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 380,500 shares, a growth of 5.6% from the August 15th total of 360,200 shares. Approximately 0.3% of the company's shares are sold short. Based on an average trading volume of 418,400 shares, the days-to-cover ratio is presently 0.9 days.
Bancolombia Stock Performance
Shares of CIB opened at $28.12 on Thursday. The company's 50 day moving average price is $29.27 and its 200 day moving average price is $35.30. Bancolombia has a 52 week low of $26.27 and a 52 week high of $45.98. The company has a market capitalization of $6.76 billion, a PE ratio of 4.51, a PEG ratio of 0.25 and a beta of 1.26. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.05 and a current ratio of 1.05.
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Bancolombia Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Thursday, September 29th will be given a $0.7403 dividend. This represents a $2.96 annualized dividend and a yield of 10.53%. The ex-dividend date of this dividend is Wednesday, September 28th. Bancolombia's dividend payout ratio is 41.73%.
Wall Street Analysts Forecast Growth
CIB has been the topic of a number of recent analyst reports. Credit Suisse Group upgraded shares of Bancolombia from a "neutral" rating to an "outperform" rating and set a $35.00 price target on the stock in a report on Tuesday, August 2nd. TheStreet downgraded shares of Bancolombia from a "b-" rating to a "c+" rating in a research report on Wednesday, July 27th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $44.00.
Institutional Trading of Bancolombia
Several large investors have recently added to or reduced their stakes in the business. Signaturefd LLC raised its position in shares of Bancolombia by 4.4% in the 1st quarter. Signaturefd LLC now owns 6,220 shares of the bank's stock valued at $265,000 after acquiring an additional 264 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Bancolombia by 13.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,719 shares of the bank's stock valued at $117,000 after buying an additional 327 shares in the last quarter. Trustcore Financial Services LLC grew its stake in shares of Bancolombia by 135.7% in the first quarter. Trustcore Financial Services LLC now owns 660 shares of the bank's stock valued at $28,000 after buying an additional 380 shares in the last quarter. Advisor Group Holdings Inc. grew its stake in shares of Bancolombia by 12.0% in the first quarter. Advisor Group Holdings Inc. now owns 5,173 shares of the bank's stock valued at $221,000 after buying an additional 553 shares in the last quarter. Finally, Pinebridge Investments L.P. bought a new position in Bancolombia during the first quarter worth $26,000. 2.44% of the stock is owned by institutional investors.
Bancolombia Company Profile
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Bancolombia SA provides banking products and services in Colombia, Panama, Puerto Rico, El Salvador, Costa Rica, and Guatemala. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.
Further Reading
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