Wellington Management Group LLP Takes $8.21 Million Position in Bancolombia S.A. (NYSE:CIB)

Wellington Management Group LLP acquired a new position in Bancolombia S.A. (NYSE:CIB) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 261,575 shares of the bank’s stock, valued at approximately $8,208,000.

Several other large investors also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC purchased a new stake in shares of Bancolombia in the 3rd quarter valued at about $27,000. Blue Trust Inc. raised its stake in Bancolombia by 96.5% in the third quarter. Blue Trust Inc. now owns 1,305 shares of the bank’s stock valued at $43,000 after purchasing an additional 641 shares in the last quarter. Signaturefd LLC lifted its position in Bancolombia by 10.6% during the second quarter. Signaturefd LLC now owns 5,053 shares of the bank’s stock valued at $165,000 after purchasing an additional 484 shares during the last quarter. US Bancorp DE grew its stake in Bancolombia by 18.9% in the 3rd quarter. US Bancorp DE now owns 5,282 shares of the bank’s stock worth $166,000 after buying an additional 839 shares in the last quarter. Finally, AXA S.A. bought a new position in shares of Bancolombia in the 2nd quarter worth $192,000.

Bancolombia Price Performance

Shares of NYSE:CIB opened at $33.19 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.34. The stock has a market cap of $7.98 billion, a PE ratio of 5.26, a PEG ratio of 3.47 and a beta of 1.22. The company’s fifty day moving average is $32.33 and its 200 day moving average is $32.75. Bancolombia S.A. has a 52 week low of $28.78 and a 52 week high of $37.85.

Bancolombia Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be paid a $0.8044 dividend. This represents a $3.22 dividend on an annualized basis and a dividend yield of 9.69%. The ex-dividend date of this dividend is Monday, December 30th. Bancolombia’s dividend payout ratio (DPR) is presently 50.87%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CIB shares. The Goldman Sachs Group lowered shares of Bancolombia from a “neutral” rating to a “sell” rating and cut their target price for the stock from $34.00 to $32.00 in a research report on Tuesday, August 20th. Bank of America lowered Bancolombia from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $38.00 to $34.00 in a research report on Thursday, August 29th.

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.