Zurcher Kantonalbank Zurich Cantonalbank Cuts Stake in Bancolombia S.A. (NYSE:CIB)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in Bancolombia S.A. (NYSE:CIB) by 8.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,773 shares of the bank’s stock after selling 10,773 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bancolombia were worth $3,711,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Venturi Wealth Management LLC purchased a new position in shares of Bancolombia in the third quarter valued at approximately $27,000. Lindbrook Capital LLC lifted its holdings in Bancolombia by 74.7% in the 4th quarter. Lindbrook Capital LLC now owns 968 shares of the bank’s stock valued at $31,000 after purchasing an additional 414 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Bancolombia by 41.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank’s stock worth $72,000 after purchasing an additional 657 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Bancolombia during the fourth quarter worth about $89,000. Finally, R Squared Ltd purchased a new stake in Bancolombia during the 4th quarter valued at about $121,000.

Bancolombia Stock Performance

NYSE CIB opened at $43.15 on Friday. The stock has a fifty day simple moving average of $38.46 and a 200-day simple moving average of $34.41. Bancolombia S.A. has a twelve month low of $30.25 and a twelve month high of $44.25. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. The stock has a market cap of $10.37 billion, a PE ratio of 6.85, a P/E/G ratio of 2.47 and a beta of 1.22.

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

Wall Street Analysts Forecast Growth

CIB has been the topic of several recent research reports. The Goldman Sachs Group boosted their target price on Bancolombia from $31.00 to $35.00 and gave the stock a “sell” rating in a report on Monday, February 24th. Morgan Stanley upgraded shares of Bancolombia from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $40.00 to $53.00 in a report on Tuesday, January 28th.

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.