Quadrature Capital Ltd Takes $552,000 Position in Bancolombia S.A. (NYSE:CIB)

Posted by Defense World Staff on Mar 12th, 2023

Quadrature Capital Ltd acquired a new position in Bancolombia S.A. (NYSE:CIB – Get Rating) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 22,665 shares of the bank’s stock, valued at approximately $552,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC lifted its position in shares of Bancolombia by 47.7% in the third quarter. Atlas Capital Advisors LLC now owns 1,858 shares of the bank’s stock worth $45,000 after purchasing an additional 600 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Bancolombia by 13.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,719 shares of the bank’s stock worth $117,000 after buying an additional 327 shares during the last quarter. Employees Retirement System of Texas bought a new stake in shares of Bancolombia during the 3rd quarter worth $113,000. Advisor Group Holdings Inc. increased its stake in shares of Bancolombia by 12.0% in the first quarter. Advisor Group Holdings Inc. now owns 5,173 shares of the bank’s stock worth $221,000 after purchasing an additional 553 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Bancolombia in the 1st quarter valued at approximately $311,000. 1.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on CIB. HSBC upgraded shares of Bancolombia from a “hold” rating to a “buy” rating in a research note on Friday, December 16th. TheStreet upgraded Bancolombia from a “c+” rating to a “b-” rating in a research note on Tuesday, January 17th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.40.

Bancolombia Price Performance

Shares of CIB opened at $25.71 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.49. Bancolombia S.A. has a twelve month low of $23.86 and a twelve month high of $45.98. The company has a 50 day moving average of $28.12 and a 200-day moving average of $27.04. The stock has a market capitalization of $6.18 billion, a P/E ratio of 3.90, a P/E/G ratio of 1.23 and a beta of 1.15.

Bancolombia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 19th. Shareholders of record on Friday, December 30th were given a dividend of $0.6545 per share. This represents a $2.62 dividend on an annualized basis and a yield of 10.18%. The ex-dividend date was Thursday, December 29th. Bancolombia’s dividend payout ratio (DPR) is presently 30.91%.

Bancolombia Profile

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Bancolombia SA provides various banking products and services to individual, corporate, and government customers in Colombia, Latin America, and the Caribbean region. It operates through following operating segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment banking, Brokerage, Off Shore and Others.