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

Wellington Management Group LLP bought a new position in shares of Bancolombia S.A. (NYSE:CIB) in the third quarter, HoldingsChannel reports. The firm bought 261,575 shares of the bank’s stock, valued at approximately $8,208,000.

Other hedge funds also recently bought and sold shares of the company. Venturi Wealth Management LLC bought a new stake in shares of Bancolombia in the 3rd quarter worth approximately $27,000. Blue Trust Inc. boosted its holdings 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 acquiring an additional 641 shares in the last quarter. Signaturefd LLC increased its position in 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 purchasing an additional 484 shares during the period. US Bancorp DE raised its holdings 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 purchasing an additional 839 shares in the last quarter. Finally, AXA S.A. purchased a new stake in shares of Bancolombia in the 2nd quarter worth about $192,000.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CIB shares. Bank of America downgraded shares of 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 lowered Bancolombia from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $34.00 to $32.00 in a research report on Tuesday, August 20th.

Bancolombia Stock Up 0.2 %

NYSE:CIB opened at $33.19 on Monday. Bancolombia S.A. has a 1-year low of $28.78 and a 1-year high of $37.85. The company has a market capitalization of $7.98 billion, a PE ratio of 5.26, a P/E/G ratio of 3.47 and a beta of 1.22. The firm’s 50-day moving average price is $32.33 and its 200-day moving average price is $32.75. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.00 and a quick ratio of 1.00.

Bancolombia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be paid a dividend of $0.8044 per share. 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 is 50.87%.

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.