DnB Asset Management AS Cuts Stock Holdings in Bancolombia S.A. (NYSE:CIB)

DnB Asset Management AS decreased its holdings in shares of Bancolombia S.A. (NYSE:CIBGet Rating) by 20.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,760 shares of the bank’s stock after selling 28,242 shares during the quarter. DnB Asset Management AS’s holdings in Bancolombia were worth $3,476,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Signaturefd LLC grew its holdings in shares of Bancolombia by 4.4% during the first quarter. Signaturefd LLC now owns 6,220 shares of the bank’s stock worth $265,000 after purchasing an additional 264 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Bancolombia by 13.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,719 shares of the bank’s stock worth $117,000 after buying an additional 327 shares in the last quarter. Trustcore Financial Services LLC boosted its stake in Bancolombia by 135.7% in the first quarter. Trustcore Financial Services LLC now owns 660 shares of the bank’s stock worth $28,000 after buying an additional 380 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in Bancolombia by 12.0% in the first quarter. Advisor Group Holdings Inc. now owns 5,173 shares of the bank’s stock worth $221,000 after buying an additional 553 shares in the last quarter. Finally, Pinebridge Investments L.P. purchased a new stake in Bancolombia in the first quarter worth approximately $26,000. Hedge funds and other institutional investors own 2.44% of the company’s stock.

Analyst Ratings Changes

CIB has been the subject of several research reports. TheStreet lowered Bancolombia from a “b-” rating to a “c+” rating in a research note on Wednesday, July 27th. Credit Suisse Group raised Bancolombia from a “neutral” rating to an “outperform” rating and set a $35.00 target price for the company in a research note on Tuesday, August 2nd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.00.

Bancolombia Stock Performance

NYSE:CIB opened at $28.36 on Wednesday. The firm has a market cap of $6.82 billion, a PE ratio of 4.55, a price-to-earnings-growth ratio of 0.24 and a beta of 1.26. Bancolombia S.A. has a fifty-two week low of $26.27 and a fifty-two week high of $45.98. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.05 and a current ratio of 1.05. The business has a 50 day moving average price of $29.27 and a 200-day moving average price of $35.35.

Bancolombia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Thursday, September 29th will be paid a dividend of $0.7403 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 10.44%. The ex-dividend date of this dividend is Wednesday, September 28th. Bancolombia’s dividend payout ratio (DPR) is presently 41.73%.

About Bancolombia

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Bancolombia SA provides banking products and services in Colombia, Panama, Puerto Rico, El Salvador, Costa Rica, and Guatemala. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.

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Institutional Ownership by Quarter for Bancolombia (NYSE:CIB)

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