Envestnet Asset Management Inc. Purchases 4,106 Shares of Bancolombia S.A. (NYSE:CIB)

Envestnet Asset Management Inc. increased its position in Bancolombia S.A. (NYSE:CIBGet Rating) by 9.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,546 shares of the bank’s stock after purchasing an additional 4,106 shares during the period. Envestnet Asset Management Inc.’s holdings in Bancolombia were worth $1,528,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CIB. BlackRock Inc. lifted its stake in Bancolombia by 25.1% during the 1st quarter. BlackRock Inc. now owns 2,227,183 shares of the bank’s stock valued at $95,011,000 after acquiring an additional 446,778 shares during the period. Moneda S.A. Administradora General de Fondos lifted its stake in Bancolombia by 2,317.0% during the 2nd quarter. Moneda S.A. Administradora General de Fondos now owns 291,243 shares of the bank’s stock valued at $8,979,000 after acquiring an additional 279,193 shares during the period. Philadelphia Financial Management of San Francisco LLC bought a new position in Bancolombia during the 1st quarter valued at about $10,958,000. Moneda USA Inc. bought a new position in Bancolombia during the 2nd quarter valued at about $7,020,000. Finally, Candriam S.C.A. increased its position in shares of Bancolombia by 2,900.2% during the 2nd quarter. Candriam S.C.A. now owns 161,649 shares of the bank’s stock valued at $4,983,000 after purchasing an additional 156,261 shares during the last quarter. Institutional investors own 2.44% of the company’s stock.

Bancolombia Trading Down 0.2 %

Bancolombia stock opened at $25.40 on Monday. The firm has a 50 day moving average of $25.85 and a 200 day moving average of $30.67. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of 3.80, a P/E/G ratio of 0.22 and a beta of 1.23. Bancolombia S.A. has a 12-month low of $23.86 and a 12-month high of $45.98. The company has a current ratio of 1.03, a quick ratio of 1.05 and a debt-to-equity ratio of 0.48.

Analyst Ratings Changes

Several research firms have recently commented on CIB. TheStreet lowered shares of Bancolombia from a “b-” rating to a “c+” rating in a research report on Wednesday, July 27th. Credit Suisse Group raised shares of Bancolombia from a “neutral” rating to an “outperform” rating and set a $35.00 price target for the company in a research report on Tuesday, August 2nd. Finally, UBS Group raised shares of Bancolombia from a “sell” rating to a “neutral” rating and reduced their price target for the company from $29.00 to $27.00 in a research report on Wednesday, October 19th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Bancolombia currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.17.

Bancolombia Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Bancolombia (NYSE:CIB)

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