Short Interest in Bancolombia S.A. (NYSE:CIB) Rises By 211.8%

Bancolombia S.A. (NYSE:CIB) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 356,100 shares, an increase of 211.8% from the January 15th total of 114,200 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average trading volume of 304,700 shares, the short-interest ratio is currently 1.2 days.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley upgraded Bancolombia from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $40.00 to $53.00 in a research report on Tuesday, January 28th.

Bancolombia Price Performance

CIB traded down $0.05 during trading on Wednesday, reaching $39.99. 234,176 shares of the company traded hands, compared to its average volume of 417,717. 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 has a 12-month low of $30.25 and a 12-month high of $40.62. The firm has a fifty day simple moving average of $34.31 and a 200 day simple moving average of $33.02. The company has a market cap of $9.62 billion, a P/E ratio of 6.34, a PEG ratio of 2.27 and a beta of 1.22.

Bancolombia Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were given a dividend of $0.8044 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $3.22 annualized dividend and a dividend yield of 8.05%. Bancolombia’s dividend payout ratio (DPR) is 50.71%.

Institutional Trading of Bancolombia

Institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP bought a new stake in shares of Bancolombia in the third quarter valued at about $8,208,000. XTX Topco Ltd acquired a new position in shares of Bancolombia during the 3rd quarter worth approximately $385,000. Centiva Capital LP purchased a new stake in shares of Bancolombia during the third quarter worth approximately $288,000. Point72 Asset Management L.P. grew its holdings in Bancolombia by 3,160.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 16,300 shares of the bank’s stock valued at $511,000 after buying an additional 15,800 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Bancolombia by 96.5% during the 3rd quarter. Blue Trust Inc. now owns 1,305 shares of the bank’s stock worth $43,000 after purchasing an additional 641 shares during the period.

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.