Bancolombia S.A. (NYSE:CIB) Short Interest Up 12.9% in October


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Bancolombia S.A. (NYSE:CIB) saw a large increase in short interest in the month of October. As of October 30th, there was short interest totalling 1,580,000 shares, an increase of 12.9% from the October 15th total of 1,400,000 shares. Based on an average daily volume of 222,800 shares, the days-to-cover ratio is presently 7.1 days.

A number of institutional investors have recently added to or reduced their stakes in the stock. Earnest Partners LLC increased its holdings in Bancolombia by 10.6% in the 3rd quarter. Earnest Partners LLC now owns 2,658,348 shares of the bank’s stock valued at $67,921,000 after buying an additional 254,577 shares during the period. BlackRock Inc. increased its stake in Bancolombia by 77.9% during the 3rd quarter. BlackRock Inc. now owns 1,749,714 shares of the bank’s stock valued at $44,705,000 after purchasing an additional 765,929 shares in the last quarter. State Street Corp increased its stake in Bancolombia by 1.8% during the 3rd quarter. State Street Corp now owns 1,041,791 shares of the bank’s stock valued at $26,931,000 after purchasing an additional 18,595 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Bancolombia during the 2nd quarter valued at $14,258,000. Finally, Candriam Luxembourg S.C.A. increased its stake in Bancolombia by 53.1% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 491,378 shares of the bank’s stock valued at $12,929,000 after purchasing an additional 170,474 shares in the last quarter. 4.21% of the stock is owned by institutional investors and hedge funds.

Shares of CIB stock traded up $0.31 during trading hours on Friday, hitting $30.18. 114,590 shares of the company were exchanged, compared to its average volume of 450,156. The company has a market capitalization of $7.26 billion, a PE ratio of 26.02, a PEG ratio of 5.21 and a beta of 1.21. Bancolombia has a 52 week low of $16.27 and a 52 week high of $56.10. The business has a 50 day moving average of $26.85 and a two-hundred day moving average of $26.93. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 14th. Investors of record on Wednesday, December 30th will be given a $0.3201 dividend. The ex-dividend date of this dividend is Tuesday, December 29th. This represents a $1.28 dividend on an annualized basis and a yield of 4.24%. This is an increase from Bancolombia’s previous quarterly dividend of $0.31. Bancolombia’s dividend payout ratio (DPR) is 27.98%.

Several research firms have recently issued reports on CIB. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell downgraded shares of Bancolombia from a “buy” rating to a “neutral” rating in a report on Tuesday, October 27th. JPMorgan Chase & Co. downgraded shares of Bancolombia from an “overweight” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a report on Wednesday, July 29th. Zacks Investment Research upgraded shares of Bancolombia from a “sell” rating to a “hold” rating in a report on Friday. ValuEngine upgraded shares of Bancolombia from a “hold” rating to a “buy” rating in a report on Tuesday, November 17th. Finally, Smith Barney Citigroup downgraded shares of Bancolombia from a “buy” rating to a “neutral” rating in a report on Tuesday, October 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Bancolombia presently has an average rating of “Hold” and a consensus price target of $29.33.

About Bancolombia

Bancolombia S. A. provides various banking products and services to individual and corporate customers 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, Off Shore, and All other.

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