KBC Group NV held its stake in BanColombia S.A. (NYSE:CIB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,814 shares of the bank’s stock at the end of the second quarter. KBC Group NV’s holdings in BanColombia were worth $437,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. raised its stake in shares of BanColombia by 89.2% in the second quarter. Russell Investments Group Ltd. now owns 1,087,266 shares of the bank’s stock valued at $48,434,000 after purchasing an additional 512,600 shares in the last quarter. GMT Capital Corp raised its stake in shares of BanColombia by 84.7% in the first quarter. GMT Capital Corp now owns 1,050,472 shares of the bank’s stock valued at $41,882,000 after purchasing an additional 481,800 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of BanColombia in the first quarter valued at $12,394,000. FMR LLC raised its stake in shares of BanColombia by 24.5% in the first quarter. FMR LLC now owns 1,446,421 shares of the bank’s stock valued at $57,669,000 after purchasing an additional 284,460 shares in the last quarter. Finally, APG Asset Management N.V. raised its stake in shares of BanColombia by 130.7% in the second quarter. APG Asset Management N.V. now owns 326,673 shares of the bank’s stock valued at $14,553,000 after purchasing an additional 185,073 shares in the last quarter. Institutional investors own 14.96% of the company’s stock.
Shares of BanColombia S.A. (NYSE:CIB) opened at 47.42 on Friday. BanColombia S.A. has a one year low of $31.98 and a one year high of $48.74. The stock’s 50 day moving average price is $45.23 and its 200 day moving average price is $42.85. The company has a market cap of $11.40 billion, a PE ratio of 11.19 and a beta of 0.33.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Thursday, September 28th will be given a dividend of $0.3278 per share. This represents a $1.31 annualized dividend and a yield of 2.77%. This is a boost from BanColombia’s previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, September 27th. BanColombia’s payout ratio is presently 27.52%.
A number of analysts have weighed in on CIB shares. BidaskClub cut BanColombia from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded BanColombia from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Tuesday, August 15th. Finally, HSBC Holdings plc cut BanColombia from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. BanColombia currently has a consensus rating of “Hold” and an average price target of $46.33.
Bancolombia SA (Bancolombia) is a financial institution engaged in providing a range of financial products and services to a diversified individual, corporate, and government customer base throughout Colombia, Latin America and the Caribbean region. The Bank operates through 10 segments: Banking Colombia, Banking Panama, Banking El Salvador, Leasing, Trust, Investment Banking, Brokerage, Off Shore and All other.
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