Schwab Charles Investment Management Inc. grew its holdings in Bancolombia SA (NYSE:CIB) by 7.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 112,443 shares of the bank’s stock after purchasing an additional 7,668 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Bancolombia were worth $5,149,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Polaris Capital Management LLC bought a new position in Bancolombia during the second quarter worth $126,277,000. JPMorgan Chase & Co. boosted its position in shares of Bancolombia by 419.6% in the third quarter. JPMorgan Chase & Co. now owns 1,874,923 shares of the bank’s stock valued at $85,647,000 after acquiring an additional 1,514,103 shares during the period. BT Investment Management Ltd bought a new stake in shares of Bancolombia in the second quarter valued at about $17,460,000. GQG Partners LLC boosted its position in shares of Bancolombia by 33.9% in the second quarter. GQG Partners LLC now owns 662,427 shares of the bank’s stock valued at $29,511,000 after acquiring an additional 167,731 shares during the period. Finally, GMT Capital Corp boosted its position in shares of Bancolombia by 12.3% in the second quarter. GMT Capital Corp now owns 1,179,872 shares of the bank’s stock valued at $51,796,000 after acquiring an additional 129,400 shares during the period. Institutional investors own 13.32% of the company’s stock.
Bancolombia SA (CIB) traded up $0.76 during trading on Thursday, hitting $46.71. The company’s stock had a trading volume of 177,035 shares, compared to its average volume of 219,478. The company has a market cap of $11,140.00, a PE ratio of 11.83, a price-to-earnings-growth ratio of 2.50 and a beta of 0.35. Bancolombia SA has a 52-week low of $36.15 and a 52-week high of $48.74. 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 company also recently announced a quarterly dividend, which was paid on Monday, January 8th. Investors of record on Tuesday, December 26th were issued a $0.315 dividend. This is a boost from Bancolombia’s previous quarterly dividend of $0.30. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Friday, December 22nd. Bancolombia’s dividend payout ratio (DPR) is currently 31.90%.
Several research firms recently weighed in on CIB. JPMorgan Chase & Co. cut shares of Bancolombia from a “neutral” rating to an “underweight” rating and set a $41.00 price objective for the company. in a research report on Wednesday, October 4th. Citigroup downgraded Bancolombia from a “neutral” rating to a “sell” rating in a research note on Tuesday, January 9th. Deutsche Bank downgraded Bancolombia from a “buy” rating to a “hold” rating and lowered their target price for the stock from $52.00 to $45.00 in a research note on Friday, October 27th. Finally, Zacks Investment Research downgraded Bancolombia from a “hold” rating to a “sell” rating in a research note on Tuesday, November 21st. Five equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company currently has a consensus 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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