Raymond James Financial Inc. Makes New $3.10 Million Investment in Bancolombia S.A. (NYSE:CIB)

Raymond James Financial Inc. bought a new stake in Bancolombia S.A. (NYSE:CIB) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 98,524 shares of the bank’s stock, valued at approximately $3,104,000.

Several other institutional investors also recently modified their holdings of CIB. Renaissance Technologies LLC grew its holdings in Bancolombia by 5.9% during the 4th quarter. Renaissance Technologies LLC now owns 181,400 shares of the bank’s stock worth $5,716,000 after acquiring an additional 10,030 shares during the period. Ranmore Fund Management Ltd acquired a new position in Bancolombia in the fourth quarter valued at about $8,284,000. Quadrant Capital Group LLC boosted its holdings in Bancolombia by 13.3% during the fourth quarter. Quadrant Capital Group LLC now owns 9,587 shares of the bank’s stock worth $302,000 after buying an additional 1,128 shares during the last quarter. Integrated Quantitative Investments LLC bought a new stake in shares of Bancolombia in the 4th quarter valued at about $693,000. Finally, B. Metzler seel. Sohn & Co. AG raised its position in shares of Bancolombia by 2.2% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 92,600 shares of the bank’s stock valued at $2,920,000 after acquiring an additional 1,950 shares during the period.

Analyst Ratings Changes

Several equities research analysts have commented on CIB shares. Morgan Stanley raised shares of Bancolombia from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $53.00 in a research note on Tuesday, January 28th. The Goldman Sachs Group upped their price target on shares of Bancolombia from $31.00 to $35.00 and gave the company a “sell” rating in a report on Monday, February 24th.

Bancolombia Trading Down 4.0 %

NYSE:CIB opened at $40.63 on Tuesday. The company has a market cap of $9.77 billion, a P/E ratio of 6.45, a price-to-earnings-growth ratio of 2.47 and a beta of 0.85. Bancolombia S.A. has a twelve month low of $30.25 and a twelve month high of $44.93. The business has a 50 day moving average price of $41.21 and a two-hundred day moving average price of $36.42. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.60.

Bancolombia (NYSE:CIB) last released its earnings results on Thursday, February 20th. The bank reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.22. Bancolombia had a net margin of 14.14% and a return on equity of 14.61%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.41 billion. As a group, analysts expect that Bancolombia S.A. will post 6 EPS for the current fiscal year.

Bancolombia Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, May 9th. Investors of record on Tuesday, April 29th will be given a dividend of $0.5745 per share. The ex-dividend date of this dividend is Monday, April 28th. This is a boost from Bancolombia’s previous dividend of $0.30. This represents a yield of 17.13%. Bancolombia’s dividend payout ratio is 107.46%.

About Bancolombia

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.