Principal Financial Group Inc. Has $24.68 Million Holdings in BanColombia S.A. (CIB)
Principal Financial Group Inc. raised its position in shares of BanColombia S.A. (NYSE:CIB) by 0.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 554,055 shares of the bank’s stock after buying an additional 391 shares during the quarter. Principal Financial Group Inc. owned 0.23% of BanColombia worth $24,683,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of CIB. Russell Investments Group Ltd. lifted its stake in BanColombia by 89.2% during the second quarter. Russell Investments Group Ltd. now owns 1,087,266 shares of the bank’s stock valued at $48,434,000 after buying an additional 512,600 shares in the last quarter. GMT Capital Corp lifted its stake in BanColombia by 84.7% during the first quarter. GMT Capital Corp now owns 1,050,472 shares of the bank’s stock valued at $41,882,000 after buying an additional 481,800 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in BanColombia during the first quarter valued at about $12,394,000. FMR LLC lifted its stake in BanColombia by 24.5% during the first quarter. FMR LLC now owns 1,446,421 shares of the bank’s stock valued at $57,669,000 after buying an additional 284,460 shares in the last quarter. Finally, APG Asset Management N.V. lifted its stake in BanColombia by 130.7% during the second quarter. APG Asset Management N.V. now owns 326,673 shares of the bank’s stock valued at $14,553,000 after buying an additional 185,073 shares in the last quarter. 14.96% of the stock is owned by institutional investors.
A number of analysts have commented on CIB shares. Standpoint Research lowered shares of BanColombia from a “buy” rating to a “hold” rating in a research note on Monday, May 22nd. Credit Suisse Group set a $45.00 price objective on shares of BanColombia and gave the company a “hold” rating in a research note on Wednesday, May 24th. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $41.00 price objective (down from $42.00) on shares of BanColombia in a research note on Monday, June 5th. Zacks Investment Research lowered shares of BanColombia from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Finally, BidaskClub lowered shares of BanColombia from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $45.67.
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BanColombia S.A. (NYSE CIB) opened at 47.91 on Monday. The stock has a 50 day moving average price of $44.45 and a 200-day moving average price of $42.28. BanColombia S.A. has a one year low of $31.98 and a one year high of $48.74. The firm has a market cap of $11.52 billion, a P/E ratio of 11.65 and a beta of 0.33.
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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