Short Interest in Bancolombia S.A. (NYSE:CIB) Grows By 101.0%

Bancolombia S.A. (NYSE:CIB) was the target of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 353,200 shares, an increase of 101.0% from the October 31st total of 175,700 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average trading volume of 268,500 shares, the short-interest ratio is presently 1.3 days.

Institutional Investors Weigh In On Bancolombia

Hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its stake in shares of Bancolombia by 1,124.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 181,281 shares of the bank’s stock worth $6,205,000 after buying an additional 166,471 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Bancolombia during the 1st quarter valued at about $406,000. Swedbank AB acquired a new position in shares of Bancolombia during the 1st quarter valued at about $9,260,000. Stokes Family Office LLC increased its position in Bancolombia by 1.9% during the 2nd quarter. Stokes Family Office LLC now owns 25,883 shares of the bank’s stock worth $845,000 after purchasing an additional 473 shares in the last quarter. Finally, Csenge Advisory Group acquired a new stake in Bancolombia during the 2nd quarter worth approximately $654,000.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CIB shares. The Goldman Sachs Group lowered shares of Bancolombia from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $34.00 to $32.00 in a research report on Tuesday, August 20th. JPMorgan Chase & Co. lowered their target price on shares of Bancolombia from $36.00 to $35.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Finally, Bank of America lowered shares of Bancolombia from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $38.00 to $34.00 in a research report on Thursday, August 29th.

Bancolombia Price Performance

NYSE:CIB traded up $0.33 during midday trading on Thursday, reaching $32.91. The stock had a trading volume of 165,990 shares, compared to its average volume of 266,891. The firm has a fifty day simple moving average of $32.13 and a two-hundred day simple moving average of $33.02. Bancolombia has a 12-month low of $27.44 and a 12-month high of $37.85. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.00 and a current ratio of 1.00.

Bancolombia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be issued a $0.8044 dividend. This represents a $3.22 dividend on an annualized basis and a yield of 9.78%. The ex-dividend date is Monday, December 30th. Bancolombia’s dividend payout ratio (DPR) is currently 52.61%.

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.