Bancolombia S.A. (NYSE:CIB) Stock Position Cut by Advisors Asset Management Inc.

Advisors Asset Management Inc. trimmed its stake in shares of Bancolombia S.A. (NYSE:CIB) by 9.0% during the third quarter, Holdings Channel reports. The institutional investor owned 31,117 shares of the bank’s stock after selling 3,091 shares during the period. Advisors Asset Management Inc.’s holdings in Bancolombia were worth $976,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CIB. Price T Rowe Associates Inc. MD boosted its stake in Bancolombia by 1,124.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 181,281 shares of the bank’s stock valued at $6,205,000 after purchasing an additional 166,471 shares in the last quarter. Virtu Financial LLC acquired a new position in Bancolombia during the first quarter worth about $406,000. Swedbank AB bought a new stake in Bancolombia in the first quarter worth about $9,260,000. Stokes Family Office LLC lifted its holdings in Bancolombia by 1.9% in the 2nd quarter. Stokes Family Office LLC now owns 25,883 shares of the bank’s stock valued at $845,000 after acquiring an additional 473 shares during the last quarter. Finally, Csenge Advisory Group bought a new position in shares of Bancolombia during the 2nd quarter valued at about $654,000.

Analysts Set New Price Targets

A number of research firms recently commented on CIB. The Goldman Sachs Group downgraded shares of Bancolombia from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $34.00 to $32.00 in a report on Tuesday, August 20th. 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 report on Monday, August 12th. Finally, Bank of America cut Bancolombia from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $38.00 to $34.00 in a report on Thursday, August 29th.

Bancolombia Stock Down 2.1 %

CIB stock opened at $32.63 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $7.85 billion, a P/E ratio of 5.21, a P/E/G ratio of 3.41 and a beta of 1.22. Bancolombia S.A. has a 52-week low of $27.44 and a 52-week high of $37.85. The company’s 50 day simple moving average is $32.08 and its 200-day simple moving average is $33.03.

Bancolombia Cuts Dividend

The firm also recently announced 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 is Monday, December 30th. This represents a $3.22 annualized dividend and a dividend yield of 9.86%. Bancolombia’s dividend payout ratio (DPR) is presently 50.87%.

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.