Lazard Asset Management LLC Has $16.38 Million Stock Position in Bancolombia S.A. (NYSE:CIB)

Lazard Asset Management LLC trimmed its position in shares of Bancolombia S.A. (NYSE:CIB) by 33.9% during the 1st quarter, HoldingsChannel reports. The fund owned 478,557 shares of the bank’s stock after selling 245,705 shares during the quarter. Lazard Asset Management LLC’s holdings in Bancolombia were worth $16,376,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its position in shares of Bancolombia by 164.9% during the 4th quarter. Parallel Advisors LLC now owns 2,069 shares of the bank’s stock valued at $64,000 after acquiring an additional 1,288 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Bancolombia in the 4th quarter worth approximately $117,000. Barometer Capital Management Inc. bought a new stake in Bancolombia during the 4th quarter worth approximately $123,000. Signaturefd LLC increased its holdings in Bancolombia by 26.1% during the 4th quarter. Signaturefd LLC now owns 4,425 shares of the bank’s stock valued at $136,000 after purchasing an additional 916 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of Bancolombia by 107.9% during the fourth quarter. Quadrant Capital Group LLC now owns 6,313 shares of the bank’s stock worth $194,000 after purchasing an additional 3,277 shares during the last quarter.

Wall Street Analysts Forecast Growth

CIB has been the subject of a number of research analyst reports. Bank of America initiated coverage on shares of Bancolombia in a research note on Thursday, May 2nd. They issued a “neutral” rating and a $38.00 target price for the company. JPMorgan Chase & Co. upped their price objective on Bancolombia from $35.00 to $36.00 and gave the stock an “underweight” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, Bancolombia presently has an average rating of “Hold” and an average price target of $33.32.

Bancolombia Trading Up 0.2 %

Shares of NYSE CIB opened at $33.00 on Monday. Bancolombia S.A. has a 1 year low of $24.15 and a 1 year high of $37.85. The firm’s 50-day moving average is $34.03 and its 200-day moving average is $33.44. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.39.

Bancolombia (NYSE:CIB) last announced its quarterly earnings data on Thursday, May 9th. The bank reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.33. Bancolombia had a net margin of 13.64% and a return on equity of 17.33%. The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the prior year, the business posted $1.54 earnings per share. Equities analysts expect that Bancolombia S.A. will post 6.02 EPS for the current year.

Bancolombia Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Thursday, June 27th were given a $0.898 dividend. This is a positive change from Bancolombia’s previous quarterly dividend of $0.81. This represents a $3.59 annualized dividend and a dividend yield of 10.88%. The ex-dividend date of this dividend was Thursday, June 27th. Bancolombia’s dividend payout ratio (DPR) is currently 53.77%.

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.