Northern Trust Corp boosted its position in BanColombia S.A. (NYSE:CIB) by 1.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 951,164 shares of the bank’s stock after buying an additional 17,027 shares during the quarter. Northern Trust Corp owned approximately 0.40% of BanColombia worth $42,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in CIB. Russell Investments Group Ltd. increased its position in BanColombia by 89.2% in the second quarter. Russell Investments Group Ltd. now owns 1,087,266 shares of the bank’s stock worth $48,434,000 after buying an additional 512,600 shares during the last quarter. BT Investment Management Ltd purchased a new stake in BanColombia in the second quarter worth $17,460,000. Driehaus Capital Management LLC purchased a new stake in BanColombia in the first quarter worth $12,394,000. FMR LLC increased its position in BanColombia by 24.5% in the first quarter. FMR LLC now owns 1,446,421 shares of the bank’s stock worth $57,669,000 after buying an additional 284,460 shares during the last quarter. Finally, APG Asset Management N.V. increased its position in BanColombia by 130.7% in the second quarter. APG Asset Management N.V. now owns 326,673 shares of the bank’s stock worth $14,553,000 after buying an additional 185,073 shares during the last quarter. 14.96% of the stock is owned by institutional investors and hedge funds.
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A number of analysts have issued reports on CIB shares. Zacks Investment Research raised BanColombia from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Tuesday, August 15th. HSBC Holdings plc downgraded BanColombia from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. J P Morgan Chase & Co downgraded BanColombia from a “neutral” rating to an “underweight” rating and set a $41.00 target price for the company. in a research report on Wednesday, October 4th. Santander downgraded BanColombia from a “hold” rating to an “underperform” rating in a research report on Wednesday, September 20th. Finally, BidaskClub raised BanColombia from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $46.33.
BanColombia S.A. (NYSE CIB) opened at 44.62 on Wednesday. The stock has a 50 day moving average price of $46.20 and a 200-day moving average price of $43.75. BanColombia S.A. has a 12-month low of $31.98 and a 12-month high of $48.74. The company has a market capitalization of $10.73 billion, a price-to-earnings ratio of 10.53 and a beta of 0.32.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Thursday, September 28th will be paid a $0.3278 dividend. This represents a $1.31 annualized dividend and a dividend yield of 2.94%. This is a positive change from BanColombia’s previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, September 27th. BanColombia’s dividend payout ratio is 28.64%.
BanColombia Company Profile
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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