Pekin Hardy Strauss Inc. Invests $523,000 in Bancolombia S.A. (NYSE:CIB)

Pekin Hardy Strauss Inc. bought a new position in Bancolombia S.A. (NYSE:CIB) during the fourth quarter, Holdings Channel.com reports. The fund bought 17,000 shares of the bank’s stock, valued at approximately $523,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. INCA Investments LLC grew its position in Bancolombia by 21.9% in the fourth quarter. INCA Investments LLC now owns 518,072 shares of the bank’s stock worth $15,941,000 after buying an additional 93,238 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Bancolombia by 26.1% in the 4th quarter. Signaturefd LLC now owns 4,425 shares of the bank’s stock worth $136,000 after acquiring an additional 916 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Bancolombia by 6.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 111,543 shares of the bank’s stock worth $3,432,000 after purchasing an additional 6,743 shares during the period. BSW Wealth Partners lifted its holdings in shares of Bancolombia by 4.8% during the fourth quarter. BSW Wealth Partners now owns 13,619 shares of the bank’s stock valued at $419,000 after purchasing an additional 623 shares during the last quarter. Finally, Caprock Group LLC boosted its position in shares of Bancolombia by 8.6% in the 4th quarter. Caprock Group LLC now owns 18,059 shares of the bank’s stock valued at $570,000 after purchasing an additional 1,423 shares during the period.

Analysts Set New Price Targets

A number of analysts have commented on CIB shares. HSBC lowered shares of Bancolombia from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. JPMorgan Chase & Co. upped their price target on shares of Bancolombia from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.90.

Bancolombia Stock Down 2.9 %

Shares of NYSE CIB opened at $32.72 on Wednesday. The business has a 50-day moving average price of $33.64 and a two-hundred day moving average price of $30.81. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.05 and a current ratio of 1.05. Bancolombia S.A. has a one year low of $23.12 and a one year high of $37.15.

Bancolombia (NYSE:CIB) last announced its quarterly earnings data on Tuesday, February 20th. The bank reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.26. Bancolombia had a net margin of 13.51% and a return on equity of 18.46%. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.68 billion. As a group, equities analysts expect that Bancolombia S.A. will post 5.94 earnings per share for the current year.

Bancolombia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were paid a dividend of $0.8118 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $3.25 annualized dividend and a dividend yield of 9.92%. Bancolombia’s dividend payout ratio (DPR) is 59.34%.

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.