Ranmore Fund Management Ltd Buys Shares of 262,900 Bancolombia S.A. (NYSE:CIB)

Ranmore Fund Management Ltd purchased a new stake in shares of Bancolombia S.A. (NYSE:CIB) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 262,900 shares of the bank’s stock, valued at approximately $8,284,000. Bancolombia accounts for about 7.7% of Ranmore Fund Management Ltd’s holdings, making the stock its 7th biggest holding. Ranmore Fund Management Ltd owned 0.11% of Bancolombia as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP bought a new position in Bancolombia in the third quarter valued at about $8,208,000. Raymond James Financial Inc. purchased a new stake in shares of Bancolombia during the 4th quarter valued at about $3,104,000. XTX Topco Ltd bought a new position in shares of Bancolombia in the 3rd quarter worth approximately $385,000. Centiva Capital LP purchased a new position in shares of Bancolombia in the third quarter worth approximately $288,000. Finally, Stokes Family Office LLC boosted its holdings in shares of Bancolombia by 30.5% in the fourth quarter. Stokes Family Office LLC now owns 33,790 shares of the bank’s stock worth $1,065,000 after buying an additional 7,907 shares during the last quarter.

Bancolombia Price Performance

Shares of NYSE:CIB opened at $40.05 on Monday. The company has a market capitalization of $9.63 billion, a P/E ratio of 6.36, a P/E/G ratio of 2.47 and a beta of 0.85. Bancolombia S.A. has a 1-year low of $30.25 and a 1-year high of $44.93. The firm’s 50 day simple moving average is $41.43 and its two-hundred day simple moving average is $35.52. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.05 and a quick ratio of 1.00.

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

Bancolombia Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be paid a dividend of $3.8119 per share. This represents a $15.25 annualized dividend and a yield of 38.07%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Bancolombia’s previous quarterly dividend of $0.80. Bancolombia’s dividend payout ratio (DPR) is 235.56%.

Wall Street Analyst Weigh In

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

Bancolombia 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.