Caprock Group LLC Raises Stock Holdings in Bancolombia S.A. (NYSE:CIB)

Caprock Group LLC grew its stake in shares of Bancolombia S.A. (NYSE:CIB) by 8.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,964 shares of the bank’s stock after buying an additional 1,621 shares during the period. Caprock Group LLC’s holdings in Bancolombia were worth $643,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in Bancolombia by 1,124.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 181,281 shares of the bank’s stock worth $6,205,000 after buying an additional 166,471 shares during the period. Earnest Partners LLC boosted its stake in shares of Bancolombia by 4.4% in the first quarter. Earnest Partners LLC now owns 2,624,263 shares of the bank’s stock worth $89,802,000 after acquiring an additional 110,845 shares during the period. Virtus Investment Advisers Inc. purchased a new stake in shares of Bancolombia during the first quarter worth about $89,000. Virtu Financial LLC bought a new stake in Bancolombia during the 1st quarter valued at approximately $406,000. Finally, Swedbank AB purchased a new position in Bancolombia in the 1st quarter worth approximately $9,260,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CIB shares. The Goldman Sachs Group downgraded shares of Bancolombia from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $34.00 to $32.00 in a report on Tuesday, August 20th. JPMorgan Chase & Co. dropped their price objective on shares of Bancolombia from $36.00 to $35.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Finally, Bank of America cut Bancolombia from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $38.00 to $34.00 in a report on Thursday, August 29th.

Bancolombia Stock Performance

Bancolombia stock opened at $32.81 on Friday. Bancolombia S.A. has a 52-week low of $27.43 and a 52-week high of $37.85. The firm’s fifty day moving average is $32.03 and its 200 day moving average is $33.06. 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 firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be issued a $0.8044 dividend. This represents a $3.22 dividend on an annualized basis and a dividend yield of 9.81%. The ex-dividend date of this dividend is Monday, December 30th. Bancolombia’s payout ratio is 52.61%.

Bancolombia Company 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.