867 Shares in Bancolombia S.A. (NYSE:CIB) Acquired by Venturi Wealth Management LLC

Venturi Wealth Management LLC bought a new stake in shares of Bancolombia S.A. (NYSE:CIB) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 867 shares of the bank’s stock, valued at approximately $27,000.

A number of other hedge funds also recently modified their holdings of CIB. QRG Capital Management Inc. purchased a new position in shares of Bancolombia during the first quarter valued at $260,000. Russell Investments Group Ltd. acquired a new stake in Bancolombia during the 1st quarter worth about $8,248,000. Price T Rowe Associates Inc. MD grew its stake in Bancolombia by 1,124.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 181,281 shares of the bank’s stock valued at $6,205,000 after acquiring an additional 166,471 shares in the last quarter. Earnest Partners LLC increased its holdings in shares of Bancolombia by 4.4% in the 1st quarter. Earnest Partners LLC now owns 2,624,263 shares of the bank’s stock valued at $89,802,000 after purchasing an additional 110,845 shares during the period. Finally, Virtus Investment Advisers Inc. purchased a new stake in shares of Bancolombia in the first quarter worth approximately $89,000.

Bancolombia Stock Performance

CIB stock opened at $31.78 on Friday. The firm has a 50 day moving average of $31.91 and a two-hundred day moving average of $33.07. Bancolombia S.A. has a 12 month low of $26.72 and a 12 month high of $37.85. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 5.04, a P/E/G ratio of 3.26 and a beta of 1.22. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.34.

Bancolombia Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.8456 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.38 annualized dividend and a yield of 10.64%. Bancolombia’s dividend payout ratio (DPR) is currently 52.46%.

Analyst Ratings Changes

CIB has been the topic of several research reports. Bank of America lowered shares of Bancolombia from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $38.00 to $34.00 in a research note on Thursday, August 29th. The Goldman Sachs Group lowered Bancolombia from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $34.00 to $32.00 in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. lowered their target price on Bancolombia from $36.00 to $35.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th.

Bancolombia Profile

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.