GAMMA Investing LLC Purchases 31,652 Shares of Bancolombia S.A. (NYSE:CIB)

GAMMA Investing LLC grew its position in shares of Bancolombia S.A. (NYSE:CIB) by 4,011.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,441 shares of the bank’s stock after acquiring an additional 31,652 shares during the quarter. GAMMA Investing LLC’s holdings in Bancolombia were worth $1,304,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Bancolombia by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 3,099,224 shares of the bank’s stock valued at $97,657,000 after acquiring an additional 19,499 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Bancolombia by 12.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 928,679 shares of the bank’s stock worth $29,263,000 after buying an additional 102,015 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in Bancolombia during the fourth quarter worth $24,801,000. JPMorgan Chase & Co. grew its holdings in Bancolombia by 40.0% during the fourth quarter. JPMorgan Chase & Co. now owns 484,281 shares of the bank’s stock worth $15,260,000 after buying an additional 138,461 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Bancolombia by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 365,603 shares of the bank’s stock worth $11,523,000 after buying an additional 14,293 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages recently issued reports on CIB. UBS Group reiterated a “neutral” rating and set a $38.00 price target (up previously from $35.00) on shares of Bancolombia in a report on Monday, June 2nd. The Goldman Sachs Group upped their price target on Bancolombia from $31.00 to $35.00 and gave the stock a “sell” rating in a report on Monday, February 24th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $39.00.

Bancolombia Trading Down 0.3%

Shares of Bancolombia stock opened at $42.54 on Monday. The stock has a fifty day simple moving average of $41.06 and a 200 day simple moving average of $38.68. Bancolombia S.A. has a 12-month low of $30.25 and a 12-month high of $44.93. The company has a market capitalization of $10.23 billion, a P/E ratio of 6.75, a price-to-earnings-growth ratio of 2.47 and a beta of 0.91. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60.

Bancolombia Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, May 9th. Shareholders of record on Tuesday, April 29th were paid a $0.5745 dividend. This represents a yield of 17.13%. The ex-dividend date was Monday, April 28th. This is an increase from Bancolombia’s previous dividend of $0.30. Bancolombia’s dividend payout ratio is 104.81%.

About Bancolombia

Bancolombia SA, together with its subsidiaries, provides banking products and services in Colombia and internationally. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.