US Bancorp DE Boosts Holdings in Bancolombia S.A. (NYSE:CIB)

US Bancorp DE boosted its stake in Bancolombia S.A. (NYSE:CIB) by 18.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,282 shares of the bank’s stock after acquiring an additional 839 shares during the period. US Bancorp DE’s holdings in Bancolombia were worth $166,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CIB. Blue Trust Inc. raised its holdings in shares of Bancolombia by 96.5% in the 3rd quarter. Blue Trust Inc. now owns 1,305 shares of the bank’s stock worth $43,000 after purchasing an additional 641 shares during the period. Virtus Investment Advisers Inc. bought a new stake in shares of Bancolombia in the first quarter valued at $89,000. Signaturefd LLC lifted its position in shares of Bancolombia by 10.6% during the 2nd quarter. Signaturefd LLC now owns 5,053 shares of the bank’s stock valued at $165,000 after buying an additional 484 shares during the last quarter. AXA S.A. bought a new position in shares of Bancolombia during the 2nd quarter worth $192,000. Finally, QRG Capital Management Inc. purchased a new stake in Bancolombia in the 1st quarter worth about $260,000.

Wall Street Analysts Forecast Growth

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

Bancolombia Stock Up 0.9 %

CIB stock opened at $31.49 on Friday. The firm has a 50 day moving average of $31.92 and a 200-day moving average of $33.08. Bancolombia S.A. has a 12 month low of $26.72 and a 12 month high of $37.85. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.00 and a current ratio of 1.00.

Bancolombia Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.8456 dividend. This represents a $3.38 annualized dividend and a yield of 10.74%. The ex-dividend date was Friday, September 27th. Bancolombia’s payout ratio is 52.61%.

About Bancolombia

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.