As Bancolombia S.A. (CIB) Market Value Rose, Shareholder Polaris Capital Management LLC Trimmed Its Holding by $40.04 Million

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Polaris Capital Management Llc decreased its stake in Bancolombia S.A. (CIB) by 31.39% based on its latest 2018Q3 regulatory filing with the SEC. Polaris Capital Management Llc sold 889,800 shares as the company’s stock rose 0.82% while stock markets declined. The hedge fund held 1.94M shares of the commercial banks company at the end of 2018Q3, valued at $89.05 million, down from 2.83 million at the end of the previous reported quarter. Polaris Capital Management Llc who had been investing in Bancolombia S.A. for a number of months, seems to be less bullish one the $37.28 billion market cap company. The stock decreased 0.55% or $0.24 during the last trading session, reaching $43.24. About 24,133 shares traded. Bancolombia S.A. (NYSE:CIB) has risen 4.05% since January 14, 2018 and is uptrending. It has outperformed by 4.05% the S&P500.

Polaris Capital Management Llc, which manages about $4.42 billion and $1.79 billion US Long portfolio, upped its stake in Infosys Ltd (NYSE:INFY) by 344,100 shares to 8.11 million shares, valued at $118.33M in 2018Q3, according to the filing. It also increased its holding in Wesco International Inc (NYSE:WCC) by 99,600 shares in the quarter, for a total of 664,711 shares, and has risen its stake in Praxair Inc. (NYSE:PX).

Analysts await Bancolombia S.A. (NYSE:CIB) to report earnings on February, 20. They expect $0.99 earnings per share, down 21.43 % or $0.27 from last year’s $1.26 per share. CIB’s profit will be $853.63M for 10.92 P/E if the $0.99 EPS becomes a reality. After $0.76 actual earnings per share reported by Bancolombia S.A. for the previous quarter, Wall Street now forecasts 30.26 % EPS growth.

More notable recent Bancolombia S.A. (NYSE:CIB) news were published by: Zacks.com which released: “Trading, Loan Growth to Support JPMorgan’s (JPM) Q4 Earnings – Zacks.com” on January 11, 2019, also Seekingalpha.com with their article: “Bancolombia S.A. (CIB) CEO Juan Carlos Mora Uribe on Q3 2018 Results – Earnings Call Transcript – Seeking Alpha” published on November 11, 2018, Seekingalpha.com published: “Bancolombia: Deteriorating Fundamentals And Political Uncertainty Make Risk/Reward Unattractive – Seeking Alpha” on May 29, 2018. More interesting news about Bancolombia S.A. (NYSE:CIB) were released by: Seekingalpha.com and their article: “Bancolombia: Favorable Economic Conditions May Provide Excess Returns – Seeking Alpha” published on August 29, 2018 as well as Seekingalpha.com‘s news article titled: “Bancolombia: An Innovative And Undervalued South American Bank – Seeking Alpha” with publication date: June 18, 2018.

Bancolombia S.A. (NYSE:CIB) Ratings Chart

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