B. Metzler seel. Sohn & Co. Holding AG Purchases New Position in Bancolombia S.A. (NYSE:CIB)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Bancolombia S.A. (NYSE:CIB) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 90,650 shares of the bank’s stock, valued at approximately $2,845,000.

Several other institutional investors have also added to or reduced their stakes in CIB. Venturi Wealth Management LLC purchased a new position in shares of Bancolombia in the third quarter worth $27,000. Blue Trust Inc. increased its holdings in 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 buying an additional 641 shares in the last quarter. Virtus Investment Advisers Inc. purchased a new position in Bancolombia in the 1st quarter worth about $89,000. Signaturefd LLC lifted its stake 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 acquiring an additional 484 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of Bancolombia by 18.9% during the 3rd quarter. US Bancorp DE now owns 5,282 shares of the bank’s stock valued at $166,000 after acquiring an additional 839 shares during the last quarter.

Wall Street Analyst Weigh In

CIB has been the subject of several research reports. JPMorgan Chase & Co. decreased their price objective on shares of Bancolombia from $36.00 to $35.00 and set an “underweight” rating for the company in a report on Monday, August 12th. The Goldman Sachs Group cut Bancolombia from a “neutral” rating to a “sell” rating and lowered their price target for the company from $34.00 to $32.00 in a report on Tuesday, August 20th. Finally, 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 report on Thursday, August 29th.

Bancolombia Stock Performance

Shares of NYSE CIB opened at $33.49 on Thursday. Bancolombia S.A. has a 12-month low of $26.72 and a 12-month high of $37.85. The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of 5.31, a price-to-earnings-growth ratio of 3.32 and a beta of 1.22. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average of $32.01 and a 200 day moving average of $33.06.

Bancolombia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.8456 per share. This represents a $3.38 dividend on an annualized basis and a dividend yield of 10.10%. The ex-dividend date of this dividend was Friday, September 27th. Bancolombia’s payout ratio is 52.46%.

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.