Global X MANAGEMENT CO LLC reduced its stake in BanColombia S.A. (NYSE:CIB) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 322,756 shares of the bank’s stock after selling 5,606 shares during the period. Global X MANAGEMENT CO LLC owned 0.13% of BanColombia worth $14,779,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Advisor Group Inc. increased its stake in BanColombia by 1.6% in the second quarter. Advisor Group Inc. now owns 3,227 shares of the bank’s stock valued at $144,000 after purchasing an additional 52 shares in the last quarter. Pinebridge Investments L.P. bought a new stake in BanColombia in the second quarter valued at $223,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of BanColombia by 5.8% during the first quarter. Nomura Asset Management Co. Ltd. now owns 5,021 shares of the bank’s stock valued at $200,000 after buying an additional 275 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of BanColombia during the third quarter valued at about $230,000. Finally, High Pointe Capital Management LLC acquired a new position in shares of BanColombia during the second quarter valued at about $228,000. 14.88% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of BanColombia from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Tuesday, August 15th. BidaskClub cut shares of BanColombia from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. HSBC Holdings plc cut shares of BanColombia from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. Finally, Deutsche Bank AG cut shares of BanColombia from a “buy” rating to a “hold” rating and reduced their price objective for the company from $52.00 to $45.00 in a report on Friday, October 27th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $46.00.
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BanColombia S.A. (CIB) traded down $0.22 during trading on Friday, reaching $38.63. 262,651 shares of the company traded hands, compared to its average volume of 504,442. BanColombia S.A. has a 1-year low of $31.98 and a 1-year high of $48.74. The stock has a market capitalization of $9,150.00, a PE ratio of 9.76, a PEG ratio of 1.69 and a beta of 0.34. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Thursday, September 28th were issued a dividend of $0.3278 per share. The ex-dividend date of this dividend was Wednesday, September 27th. This is a boost from BanColombia’s previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a yield of 3.39%. BanColombia’s payout ratio is 33.33%.
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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