Commonwealth Bank of Australia Grows Holdings in Bancolombia SA (CIB)

Commonwealth Bank of Australia grew its stake in Bancolombia SA (NYSE:CIB) by 8.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,363 shares of the bank’s stock after buying an additional 3,800 shares during the period. Commonwealth Bank of Australia’s holdings in Bancolombia were worth $2,210,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Advisor Group Inc. boosted its stake in shares of Bancolombia by 1.6% in the 2nd quarter. Advisor Group Inc. now owns 3,227 shares of the bank’s stock valued at $144,000 after purchasing an additional 52 shares in the last quarter. Boston Common Asset Management LLC boosted its stake in shares of Bancolombia by 4.5% in the 2nd quarter. Boston Common Asset Management LLC now owns 7,840 shares of the bank’s stock valued at $349,000 after purchasing an additional 335 shares in the last quarter. Wetherby Asset Management Inc. boosted its stake in shares of Bancolombia by 13.1% in the 2nd quarter. Wetherby Asset Management Inc. now owns 9,372 shares of the bank’s stock valued at $418,000 after purchasing an additional 1,082 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Bancolombia by 3.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 59,669 shares of the bank’s stock valued at $2,658,000 after purchasing an additional 2,057 shares in the last quarter. Finally, Profund Advisors LLC boosted its stake in shares of Bancolombia by 12.4% in the 2nd quarter. Profund Advisors LLC now owns 19,145 shares of the bank’s stock valued at $853,000 after purchasing an additional 2,117 shares in the last quarter. 13.33% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on CIB. Zacks Investment Research cut shares of Bancolombia from a “hold” rating to a “sell” rating in a research note on Tuesday, November 21st. Deutsche Bank cut shares of Bancolombia from a “buy” rating to a “hold” rating and cut their price objective for the company from $52.00 to $45.00 in a research note on Friday, October 27th. J P Morgan Chase & Co cut shares of Bancolombia from a “neutral” rating to an “underweight” rating and set a $41.00 price objective for the company. in a research note on Wednesday, October 4th. Finally, Santander cut shares of Bancolombia from a “hold” rating to an “underperform” rating in a research note on Wednesday, September 20th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.00.

Shares of Bancolombia SA (CIB) opened at $38.49 on Monday. Bancolombia SA has a 12 month low of $33.97 and a 12 month high of $48.74. The stock has a market cap of $9,255.19, a price-to-earnings ratio of 9.67, a PEG ratio of 2.27 and a beta of 0.34. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.83.

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Bancolombia 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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Institutional Ownership by Quarter for Bancolombia (NYSE:CIB)

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