JPMorgan Chase & Co. lifted its position in shares of Bancolombia SA (NYSE:CIB) by 419.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,874,923 shares of the bank’s stock after buying an additional 1,514,103 shares during the period. JPMorgan Chase & Co. owned approximately 0.78% of Bancolombia worth $85,647,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Harding Loevner LP increased its holdings in Bancolombia by 1.5% in the 2nd quarter. Harding Loevner LP now owns 4,066,818 shares of the bank’s stock valued at $181,177,000 after purchasing an additional 58,267 shares in the last quarter. Vanguard Group Inc. increased its holdings in Bancolombia by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,150,030 shares of the bank’s stock valued at $140,334,000 after purchasing an additional 99,894 shares in the last quarter. Polaris Capital Management LLC acquired a new stake in Bancolombia in the 2nd quarter valued at $126,277,000. Lazard Asset Management LLC increased its holdings in Bancolombia by 1.9% in the 2nd quarter. Lazard Asset Management LLC now owns 2,058,306 shares of the bank’s stock valued at $91,697,000 after purchasing an additional 37,634 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Bancolombia by 8.8% in the 2nd quarter. Wells Fargo & Company MN now owns 1,466,436 shares of the bank’s stock valued at $65,330,000 after purchasing an additional 118,614 shares in the last quarter. Institutional investors and hedge funds own 13.33% of the company’s stock.
Bancolombia SA (NYSE:CIB) opened at $38.29 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $9,255.19, a PE ratio of 9.67, a price-to-earnings-growth ratio of 2.27 and a beta of 0.34. Bancolombia SA has a 12-month low of $34.72 and a 12-month high of $48.74.
Several analysts recently issued reports on the company. Zacks Investment Research downgraded Bancolombia from a “hold” rating to a “sell” rating in a report on Tuesday, November 21st. Deutsche Bank downgraded Bancolombia from a “buy” rating to a “hold” rating and lowered their price target for the company from $52.00 to $45.00 in a report on Friday, October 27th. J P Morgan Chase & Co downgraded Bancolombia from a “neutral” rating to an “underweight” rating and set a $41.00 price target for the company. in a report on Wednesday, October 4th. Finally, Santander downgraded Bancolombia from a “hold” rating to an “underperform” rating in a report on Wednesday, September 20th. Four analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $46.00.
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Bancolombia SA (Bancolombia) is a financial institution engaged in providing a range of financial products and services to a diversified individual, corporate, and government customer base throughout Colombia, Latin America and the Caribbean region. The Bank operates through 10 segments: Banking Colombia, Banking Panama, Banking El Salvador, Leasing, Trust, Investment Banking, Brokerage, Off Shore and All other.
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