Bancolombia S.A. (NYSE:CIB) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its holdings in Bancolombia S.A. (NYSE:CIB) by 13.6% during the third quarter, HoldingsChannel reports. The fund owned 70,678 shares of the bank’s stock after buying an additional 8,477 shares during the period. Thrivent Financial for Lutherans’ holdings in Bancolombia were worth $2,218,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Bancolombia by 45.3% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,412,322 shares of the bank’s stock valued at $46,112,000 after acquiring an additional 440,026 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Bancolombia by 12.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,323,482 shares of the bank’s stock valued at $41,531,000 after acquiring an additional 150,022 shares during the last quarter. Swedbank AB acquired a new position in Bancolombia in the first quarter valued at approximately $9,260,000. Price T Rowe Associates Inc. MD lifted its holdings in Bancolombia by 1,124.0% in the first 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 during the last quarter. Finally, Moneda S.A. Administradora General de Fondos acquired a new position in Bancolombia during the second quarter worth $5,756,000.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CIB. Bank of America cut Bancolombia from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $38.00 to $34.00 in a research note on Thursday, August 29th. The Goldman Sachs Group cut Bancolombia from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $34.00 to $32.00 in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. decreased their price target 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 Price Performance

Shares of NYSE CIB opened at $32.92 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.34. Bancolombia S.A. has a 12-month low of $27.44 and a 12-month high of $37.85. The business’s fifty day simple moving average is $32.10 and its 200-day simple moving average is $33.02.

Bancolombia Cuts Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 9.77%. The ex-dividend date is Monday, December 30th. Bancolombia’s payout ratio is currently 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.