Grantham Mayo Van Otterloo & Co. LLC Sells 92,500 Shares of Bancolombia S.A. (NYSE:CIB)

Grantham Mayo Van Otterloo & Co. LLC lowered its stake in Bancolombia S.A. (NYSE:CIB) by 33.7% in the 4th quarter, HoldingsChannel reports. The fund owned 181,805 shares of the bank’s stock after selling 92,500 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Bancolombia were worth $5,729,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CIB. Lindbrook Capital LLC raised its holdings in Bancolombia by 74.7% during the 4th quarter. Lindbrook Capital LLC now owns 968 shares of the bank’s stock valued at $31,000 after buying an additional 414 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Bancolombia by 41.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank’s stock valued at $72,000 after acquiring an additional 657 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Bancolombia in the 4th quarter worth about $89,000. R Squared Ltd purchased a new position in shares of Bancolombia during the fourth quarter valued at approximately $121,000. Finally, V Square Quantitative Management LLC grew its stake in shares of Bancolombia by 126.1% during the fourth quarter. V Square Quantitative Management LLC now owns 5,288 shares of the bank’s stock valued at $169,000 after buying an additional 2,949 shares during the last quarter.

Bancolombia Stock Down 5.2 %

Shares of NYSE:CIB opened at $40.05 on Monday. The business’s 50 day moving average is $41.43 and its 200 day moving average is $35.52. The stock has a market cap of $9.63 billion, a P/E ratio of 6.36, a price-to-earnings-growth ratio of 2.47 and a beta of 0.85. Bancolombia S.A. has a 52-week low of $30.25 and a 52-week high of $44.93. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.60.

Bancolombia (NYSE:CIB) last posted its quarterly earnings results on Thursday, February 20th. The bank reported $1.57 earnings per share (EPS) for the quarter, topping 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 return on equity of 14.61% and a net margin of 14.14%. Sell-side analysts predict that Bancolombia S.A. will post 6 EPS for the current year.

Bancolombia Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be issued a $3.8119 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $15.25 annualized dividend and a dividend yield of 38.07%. This is a positive change from Bancolombia’s previous quarterly dividend of $0.80. Bancolombia’s payout ratio is currently 235.56%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CIB shares. The Goldman Sachs Group upped their price objective on Bancolombia from $31.00 to $35.00 and gave the company a “sell” rating in a research report on Monday, February 24th. Morgan Stanley upgraded shares of Bancolombia from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $53.00 in a report on Tuesday, January 28th.

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.