Bancolombia S.A. (NYSE:CIB – Get Rating) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totalling 357,300 shares, a drop of 6.1% from the August 31st total of 380,500 shares. Based on an average daily volume of 364,600 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.3% of the shares of the stock are sold short.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on CIB. Credit Suisse Group raised shares of Bancolombia from a "neutral" rating to an "outperform" rating and set a $35.00 target price for the company in a report on Tuesday, August 2nd. TheStreet lowered shares of Bancolombia from a "b-" rating to a "c+" rating in a report on Wednesday, July 27th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Bancolombia currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.00.Get Bancolombia alerts:
Institutional Trading of Bancolombia
A number of institutional investors have recently bought and sold shares of the stock. Signaturefd LLC lifted its position in Bancolombia by 4.4% in the first quarter. Signaturefd LLC now owns 6,220 shares of the bank's stock worth $265,000 after buying an additional 264 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Bancolombia by 13.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,719 shares of the bank's stock worth $117,000 after buying an additional 327 shares during the last quarter. Trustcore Financial Services LLC lifted its position in shares of Bancolombia by 135.7% during the first quarter. Trustcore Financial Services LLC now owns 660 shares of the bank's stock worth $28,000 after purchasing an additional 380 shares during the last quarter. Advisor Group Holdings Inc. lifted its position in shares of Bancolombia by 12.0% during the first quarter. Advisor Group Holdings Inc. now owns 5,173 shares of the bank's stock worth $221,000 after purchasing an additional 553 shares during the last quarter. Finally, Pinebridge Investments L.P. bought a new stake in shares of Bancolombia during the first quarter worth $26,000. 2.44% of the stock is currently owned by institutional investors.
Bancolombia Stock Down 1.7 %Shares of CIB opened at $24.37 on Monday. The company has a market cap of $5.86 billion, a PE ratio of 3.91, a P/E/G ratio of 0.21 and a beta of 1.26. The business has a fifty day moving average of $28.93 and a 200 day moving average of $34.66. Bancolombia has a 52-week low of $23.97 and a 52-week high of $45.98. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.61.
Bancolombia Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Thursday, September 29th will be given a $0.7403 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $2.96 dividend on an annualized basis and a yield of 12.15%. Bancolombia's dividend payout ratio is presently 47.51%.
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.
- Get a free copy of the StockNews.com research report on Bancolombia (CIB)
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