M&G Plc Reduces Position in Bancolombia S.A. (NYSE:CIB)

M&G Plc decreased its holdings in shares of Bancolombia S.A. (NYSE:CIB) by 7.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 279,793 shares of the bank’s stock after selling 23,114 shares during the period. M&G Plc’s holdings in Bancolombia were worth $9,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Earnest Partners LLC grew its holdings in Bancolombia by 4.4% during the first quarter. Earnest Partners LLC now owns 2,624,263 shares of the bank’s stock valued at $89,802,000 after purchasing an additional 110,845 shares during the period. C Partners Holding GmbH grew its stake in shares of Bancolombia by 7.5% during the 4th quarter. C Partners Holding GmbH now owns 818,496 shares of the bank’s stock valued at $25,185,000 after acquiring an additional 56,977 shares during the period. INCA Investments LLC increased its holdings in Bancolombia by 21.9% in the 4th quarter. INCA Investments LLC now owns 518,072 shares of the bank’s stock worth $15,941,000 after acquiring an additional 93,238 shares in the last quarter. Swedbank AB bought a new stake in Bancolombia during the 1st quarter worth approximately $9,260,000. Finally, Russell Investments Group Ltd. bought a new stake in Bancolombia during the 1st quarter worth approximately $8,248,000.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of Bancolombia in a research note on Thursday, May 2nd. They issued a “neutral” rating and a $38.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on shares of Bancolombia from $36.00 to $35.00 and set an “underweight” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $33.12.

Bancolombia Trading Up 1.6 %

Bancolombia stock opened at $33.52 on Wednesday. Bancolombia S.A. has a 1 year low of $24.15 and a 1 year high of $37.85. The firm’s 50 day moving average price is $33.14 and its 200-day moving average price is $33.49. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $8.06 billion, a P/E ratio of 5.27 and a beta of 1.22.

Bancolombia Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Thursday, June 27th were issued a $0.898 dividend. This is an increase from Bancolombia’s previous quarterly dividend of $0.81. This represents a $3.59 dividend on an annualized basis and a yield of 10.72%. The ex-dividend date was Thursday, June 27th. Bancolombia’s payout ratio is currently 53.62%.

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.