M&G Plc purchased a new position in shares of Bancolombia S.A. (NYSE:CIB – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 302,907 shares of the bank’s stock, valued at approximately $10,299,000. M&G Plc owned about 0.13% of Bancolombia as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in Bancolombia in the 1st quarter valued at about $8,248,000. QRG Capital Management Inc. acquired a new position in Bancolombia during the 1st quarter worth approximately $260,000. Capital Wealth Planning LLC acquired a new position in shares of Bancolombia in the 1st quarter valued at approximately $2,080,000. Leith Wheeler Investment Counsel Ltd. acquired a new position in shares of Bancolombia in the 1st quarter valued at approximately $1,519,000. Finally, Lesa Sroufe & Co acquired a new position in shares of Bancolombia in the 1st quarter valued at approximately $2,217,000.
Bancolombia Trading Up 1.3 %
Shares of CIB stock traded up $0.43 during mid-day trading on Friday, reaching $33.64. The stock had a trading volume of 142,805 shares, compared to its average volume of 257,613. The firm’s 50 day simple moving average is $34.26 and its 200 day simple moving average is $33.42. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.04 and a quick ratio of 1.04. Bancolombia S.A. has a one year low of $24.15 and a one year high of $37.85.
Bancolombia Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Thursday, June 27th were issued a $0.898 dividend. This is an increase from Bancolombia’s previous quarterly dividend of $0.81. This represents a $3.59 annualized dividend and a dividend yield of 10.68%. The ex-dividend date was Thursday, June 27th. Bancolombia’s dividend payout ratio is 53.77%.
Analysts Set New Price Targets
CIB has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on Bancolombia from $35.00 to $36.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 10th. Bank of America started coverage on Bancolombia in a report on Thursday, May 2nd. They issued a “neutral” rating and a $38.00 price objective for the company. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $33.32.
Read Our Latest Stock Analysis on CIB
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.
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