Pekin Hardy Strauss Inc. Has $904,000 Stake in Bancolombia S.A. (NYSE:CIB)

Pekin Hardy Strauss Inc. increased its stake in Bancolombia S.A. (NYSE:CIB) by 16.5% in the 2nd quarter, Holdings Channel reports. The firm owned 27,675 shares of the bank’s stock after purchasing an additional 3,925 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Bancolombia were worth $904,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in shares of Bancolombia by 164.9% in the fourth quarter. Parallel Advisors LLC now owns 2,069 shares of the bank’s stock worth $64,000 after buying an additional 1,288 shares during the last quarter. Virtus Investment Advisers Inc. bought a new position in Bancolombia in the 1st quarter worth $89,000. V Square Quantitative Management LLC acquired a new position in Bancolombia during the 4th quarter worth $117,000. Barometer Capital Management Inc. bought a new stake in Bancolombia during the fourth quarter valued at about $123,000. Finally, Signaturefd LLC grew its position in shares of Bancolombia by 10.6% in the second quarter. Signaturefd LLC now owns 5,053 shares of the bank’s stock valued at $165,000 after purchasing an additional 484 shares during the last quarter.

Bancolombia Trading Down 0.6 %

Shares of CIB opened at $31.57 on Wednesday. The stock’s 50-day moving average price is $32.89 and its 200 day moving average price is $33.63. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 4.97, a P/E/G ratio of 3.16 and a beta of 1.23. Bancolombia S.A. has a 12-month low of $24.15 and a 12-month high of $37.85.

Bancolombia (NYSE:CIB) last released its quarterly earnings data on Thursday, August 8th. The bank reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.01. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Bancolombia had a return on equity of 15.68% and a net margin of 13.73%. As a group, research analysts predict that Bancolombia S.A. will post 5.99 earnings per share for the current year.

Bancolombia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.8456 dividend. This represents a $3.38 dividend on an annualized basis and a dividend yield of 10.71%. The ex-dividend date is Friday, September 27th. Bancolombia’s dividend payout ratio is 53.62%.

Analyst Ratings Changes

CIB has been the subject of several research analyst reports. The Goldman Sachs Group cut Bancolombia from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $34.00 to $32.00 in a research report on Tuesday, August 20th. Bank of America lowered Bancolombia from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $38.00 to $34.00 in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. reduced their price objective on Bancolombia from $36.00 to $35.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $32.40.

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.