Thrivent Financial for Lutherans Buys 8,477 Shares of Bancolombia S.A. (NYSE:CIB)

Thrivent Financial for Lutherans increased its holdings in shares of Bancolombia S.A. (NYSE:CIB) by 13.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,678 shares of the bank’s stock after buying an additional 8,477 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Bancolombia were worth $2,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC acquired a new stake in Bancolombia during the 3rd quarter worth about $27,000. AIA Group Ltd purchased a new stake in Bancolombia during the 3rd quarter worth approximately $246,000. QRG Capital Management Inc. increased its stake in Bancolombia by 37.8% during the 3rd quarter. QRG Capital Management Inc. now owns 14,811 shares of the bank’s stock worth $465,000 after buying an additional 4,065 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Bancolombia by 12.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,323,482 shares of the bank’s stock worth $41,531,000 after buying an additional 150,022 shares in the last quarter. Finally, BSW Wealth Partners increased its stake in Bancolombia by 15.7% during the 3rd quarter. BSW Wealth Partners now owns 16,626 shares of the bank’s stock worth $522,000 after buying an additional 2,251 shares in the last quarter.

Bancolombia Stock Up 1.0 %

CIB stock opened at $32.92 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.00 and a current ratio of 1.00. The business has a 50 day simple moving average of $32.10 and a 200-day simple moving average of $33.02. Bancolombia S.A. has a 1 year low of $27.44 and a 1 year high of $37.85.

Bancolombia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be given a $0.8044 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 9.77%. Bancolombia’s dividend payout ratio (DPR) is presently 52.61%.

Analyst Ratings Changes

CIB has been the subject of several research reports. Bank of America lowered Bancolombia from a “neutral” rating to an “underperform” rating and cut their price objective for the stock 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 research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. cut their price objective on Bancolombia from $36.00 to $35.00 and set an “underweight” rating for the company 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.