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.Get Bancolombia alerts:
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 GrowthCIB 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
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.
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