Allspring Global Investments Holdings LLC Sells 19,908 Shares of Bancolombia S.A. (NYSE:CIB)

Allspring Global Investments Holdings LLC cut its stake in shares of Bancolombia S.A. (NYSE:CIB) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,189,394 shares of the bank’s stock after selling 19,908 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Bancolombia were worth $40,701,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB raised its holdings in shares of Bancolombia by 52.4% in the fourth quarter. Nordea Investment Management AB now owns 214,223 shares of the bank’s stock valued at $6,613,000 after purchasing an additional 73,656 shares during the last quarter. Gladstone Institutional Advisory LLC bought a new position in shares of Bancolombia in the fourth quarter valued at approximately $218,000. Ballentine Partners LLC purchased a new stake in shares of Bancolombia during the first quarter valued at approximately $448,000. Banco BTG Pactual S.A. bought a new stake in Bancolombia during the fourth quarter worth $3,017,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in Bancolombia during the fourth quarter worth $222,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CIB shares. Bank of America started coverage on Bancolombia in a research report on Thursday, May 2nd. They set a “neutral” rating and a $38.00 target price for the company. JPMorgan Chase & Co. raised their price objective on shares of Bancolombia from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, Bancolombia currently has a consensus rating of “Hold” and a consensus price target of $33.12.

Bancolombia Stock Down 1.0 %

Shares of CIB opened at $33.04 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.04 and a current ratio of 1.04. Bancolombia S.A. has a 1 year low of $24.15 and a 1 year high of $37.85. The stock’s fifty day moving average price is $34.22 and its two-hundred day moving average price is $33.13.

Bancolombia (NYSE:CIB) last announced its quarterly earnings data on Thursday, May 9th. The bank reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.33. The business had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Bancolombia had a return on equity of 17.33% and a net margin of 13.64%. During the same period in the previous year, the business posted $1.54 EPS. As a group, equities research analysts anticipate that Bancolombia S.A. will post 5.98 earnings per share for the current year.

Bancolombia Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Thursday, June 27th will be paid a dividend of $0.898 per share. This is a boost from Bancolombia’s previous quarterly dividend of $0.81. This represents a $3.59 dividend on an annualized basis and a dividend yield of 10.87%. The ex-dividend date is Thursday, June 27th. Bancolombia’s dividend payout ratio is presently 56.45%.

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.