Bancolombia SA (CIB) Stake Decreased by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its holdings in Bancolombia SA (NYSE:CIB) by 35.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 705,967 shares of the bank’s stock after selling 381,299 shares during the period. Russell Investments Group Ltd. owned 0.29% of Bancolombia worth $32,323,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Polaris Capital Management LLC purchased a new position in Bancolombia in the 2nd quarter worth $126,277,000. BT Investment Management Ltd bought a new stake in Bancolombia in the 2nd quarter worth $17,460,000. APG Asset Management N.V. grew its holdings in Bancolombia by 130.7% in the 2nd quarter. APG Asset Management N.V. now owns 326,673 shares of the bank’s stock worth $14,553,000 after acquiring an additional 185,073 shares during the last quarter. GQG Partners LLC grew its holdings in Bancolombia by 33.9% in the 2nd quarter. GQG Partners LLC now owns 662,427 shares of the bank’s stock worth $29,511,000 after acquiring an additional 167,731 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Bancolombia by 73.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 360,820 shares of the bank’s stock worth $16,074,000 after acquiring an additional 152,627 shares during the last quarter. 13.33% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently commented on CIB. Deutsche Bank cut shares of Bancolombia from a “buy” rating to a “hold” rating and decreased their target price for the stock from $52.00 to $45.00 in a report on Friday, October 27th. Zacks Investment Research cut shares of Bancolombia from a “hold” rating to a “sell” rating in a report on Tuesday, November 21st. J P Morgan Chase & Co cut shares of Bancolombia from a “neutral” rating to an “underweight” rating and set a $41.00 target price for the company. in a report on Wednesday, October 4th. Finally, Santander cut shares of 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 assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $46.00.

Bancolombia SA (NYSE CIB) traded down $0.10 during mid-day trading on Thursday, reaching $38.98. 381,019 shares of the company’s stock traded hands, compared to its average volume of 371,930. Bancolombia SA has a fifty-two week low of $35.52 and a fifty-two week high of $48.74. The company has a market capitalization of $9,211.91, a price-to-earnings ratio of 9.63, a P/E/G ratio of 2.26 and a beta of 0.34. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.83.

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About Bancolombia

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.

Institutional Ownership by Quarter for Bancolombia (NYSE:CIB)

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