Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in Bancolombia S.A. (NYSE:CIB)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Bancolombia S.A. (NYSE:CIB) by 7.0% during the third quarter, HoldingsChannel reports. The firm owned 128,546 shares of the bank’s stock after buying an additional 8,432 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bancolombia were worth $4,034,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Bancolombia by 45.3% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,412,322 shares of the bank’s stock valued at $46,112,000 after purchasing an additional 440,026 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Bancolombia by 12.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,323,482 shares of the bank’s stock valued at $41,531,000 after acquiring an additional 150,022 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Bancolombia by 1,124.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 181,281 shares of the bank’s stock valued at $6,205,000 after acquiring an additional 166,471 shares during the period. Moneda S.A. Administradora General de Fondos bought a new stake in shares of Bancolombia in the 2nd quarter worth about $5,756,000. Finally, Summit Global Investments boosted its stake in shares of Bancolombia by 228.3% during the 2nd quarter. Summit Global Investments now owns 146,944 shares of the bank’s stock worth $4,798,000 after purchasing an additional 102,182 shares during the period.

Bancolombia Stock Performance

CIB stock opened at $32.65 on Tuesday. Bancolombia S.A. has a 12 month low of $27.60 and a 12 month high of $37.85. The firm’s 50-day moving average is $32.15 and its 200 day moving average is $32.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.34.

Bancolombia Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be given a dividend of $0.8044 per share. This represents a $3.22 dividend on an annualized basis and a dividend yield of 9.85%. The ex-dividend date of this dividend is Monday, December 30th. Bancolombia’s dividend payout ratio (DPR) is presently 52.61%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CIB shares. Bank of America lowered shares of Bancolombia from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $38.00 to $34.00 in a research report on Thursday, August 29th. The Goldman Sachs Group downgraded Bancolombia from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $34.00 to $32.00 in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. dropped their price objective on Bancolombia from $36.00 to $35.00 and set an “underweight” rating for the company in a report on Monday, August 12th.

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.