Earnest Partners LLC reduced its holdings in shares of Bancolombia SA (NYSE:CIB) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,398,263 shares of the bank’s stock after selling 63,298 shares during the period. Bancolombia accounts for approximately 1.1% of Earnest Partners LLC’s investment portfolio, making the stock its 17th biggest holding. Earnest Partners LLC owned approximately 1.00% of Bancolombia worth $122,407,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. BlackRock Inc. grew its holdings in Bancolombia by 103.9% during the 2nd quarter. BlackRock Inc. now owns 2,065,949 shares of the bank’s stock worth $105,446,000 after acquiring an additional 1,052,496 shares during the period. Qtron Investments LLC bought a new position in shares of Bancolombia during the 2nd quarter worth about $591,000. US Bancorp DE boosted its position in shares of Bancolombia by 21.7% during the 2nd quarter. US Bancorp DE now owns 3,317 shares of the bank’s stock worth $169,000 after purchasing an additional 592 shares in the last quarter. Pinebridge Investments L.P. boosted its position in shares of Bancolombia by 3.9% during the 2nd quarter. Pinebridge Investments L.P. now owns 49,199 shares of the bank’s stock worth $2,512,000 after purchasing an additional 1,848 shares in the last quarter. Finally, Commonwealth Bank of Australia boosted its position in shares of Bancolombia by 3.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 50,471 shares of the bank’s stock worth $2,573,000 after purchasing an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 7.59% of the company’s stock.
NYSE:CIB opened at $50.86 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $11.83 billion, a price-to-earnings ratio of 14.61 and a beta of 0.76. Bancolombia SA has a 52 week low of $35.52 and a 52 week high of $55.40. The firm has a 50-day moving average price of $49.92 and a two-hundred day moving average price of $50.11.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Bancolombia from a “buy” rating to a “hold” rating in a research report on Monday. ValuEngine cut shares of Bancolombia from a “hold” rating to a “sell” rating in a research report on Tuesday. Credit Suisse Group raised shares of Bancolombia from an “underperform” rating to a “neutral” rating and set a $53.00 price target on the stock in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. raised shares of Bancolombia from a “neutral” rating to an “overweight” rating and raised their price target for the company from $48.00 to $55.00 in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Bancolombia presently has an average rating of “Hold” and an average target price of $55.00.
Bancolombia SA provides various banking products and services to individual, corporate, and government customers in Colombia, Latin America, and the Caribbean region. The company operates in nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, Off Shore, and All Other.
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