Northern Cross LLC Trims Stake in BanColombia S.A. (CIB)

Northern Cross LLC trimmed its holdings in shares of BanColombia S.A. (NYSE:CIB) by 0.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 13,741,408 shares of the bank’s stock after selling 102,440 shares during the period. BanColombia makes up about 7.9% of Northern Cross LLC’s investment portfolio, making the stock its 5th biggest position. Northern Cross LLC owned 5.71% of BanColombia worth $612,180,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CIB. Polaris Capital Management LLC bought a new position in shares of BanColombia during the 2nd quarter worth about $126,277,000. Russell Investments Group Ltd. lifted its holdings in shares of BanColombia by 89.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,087,266 shares of the bank’s stock worth $48,434,000 after acquiring an additional 512,600 shares during the period. BT Investment Management Ltd bought a new position in shares of BanColombia during the 2nd quarter worth about $17,460,000. Driehaus Capital Management LLC bought a new position in shares of BanColombia during the 1st quarter worth about $12,394,000. Finally, FMR LLC lifted its holdings in shares of BanColombia by 24.5% during the 1st quarter. FMR LLC now owns 1,446,421 shares of the bank’s stock worth $57,669,000 after acquiring an additional 284,460 shares during the period. 14.96% of the stock is owned by institutional investors.

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A number of equities research analysts recently issued reports on CIB shares. Zacks Investment Research upgraded shares of BanColombia from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Tuesday, August 15th. HSBC Holdings plc cut shares of BanColombia from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. J P Morgan Chase & Co cut shares of BanColombia from a “neutral” rating to an “underweight” rating and set a $41.00 target price for the company. in a research report on Wednesday, October 4th. Santander cut shares of BanColombia from a “hold” rating to an “underperform” rating in a research report on Wednesday, September 20th. Finally, BidaskClub upgraded shares of BanColombia from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $46.33.

Shares of BanColombia S.A. (NYSE:CIB) traded up 0.02% during midday trading on Friday, hitting $44.61. 39,129 shares of the company were exchanged. The company has a 50-day moving average of $46.20 and a 200 day moving average of $43.76. The company has a market capitalization of $10.73 billion, a P/E ratio of 10.53 and a beta of 0.32. BanColombia S.A. has a one year low of $31.98 and a one year high of $48.74.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Thursday, September 28th were paid a dividend of $0.3278 per share. This is an increase from BanColombia’s previous quarterly dividend of $0.33. The ex-dividend date was Wednesday, September 27th. This represents a $1.31 annualized dividend and a yield of 2.94%. BanColombia’s payout ratio is presently 28.64%.

BanColombia Profile

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.

Institutional Ownership by Quarter for BanColombia (NYSE:CIB)

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