Morgan Stanley Boosts Position in BanColombia S.A. (CIB)

Morgan Stanley boosted its stake in BanColombia S.A. (NYSE:CIB) by 166.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,816 shares of the bank’s stock after acquiring an additional 25,509 shares during the period. Morgan Stanley’s holdings in BanColombia were worth $1,628,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CIB. GMT Capital Corp raised its position in shares of BanColombia by 84.7% in the 1st quarter. GMT Capital Corp now owns 1,050,472 shares of the bank’s stock worth $41,882,000 after purchasing an additional 481,800 shares during the last quarter. FMR LLC raised its position in BanColombia by 24.5% in the 1st quarter. FMR LLC now owns 1,446,421 shares of the bank’s stock worth $57,669,000 after buying an additional 284,460 shares during the last quarter. Sei Investments Co. raised its position in BanColombia by 51.5% in the 1st quarter. Sei Investments Co. now owns 707,223 shares of the bank’s stock worth $28,197,000 after buying an additional 240,358 shares during the last quarter. Scout Investments Inc. raised its position in BanColombia by 30.4% in the 1st quarter. Scout Investments Inc. now owns 1,003,365 shares of the bank’s stock worth $34,295,000 after buying an additional 233,841 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new position in BanColombia in the 1st quarter worth about $8,646,000. 14.96% of the stock is owned by institutional investors and hedge funds.

Shares of BanColombia S.A. (CIB) opened at 47.47 on Friday. The stock has a market cap of $11.41 billion, a price-to-earnings ratio of 11.54 and a beta of 0.33. The company’s 50-day moving average price is $45.03 and its 200 day moving average price is $42.63. BanColombia S.A. has a 12-month low of $31.98 and a 12-month high of $48.74.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Thursday, September 28th will be paid a dividend of $0.3278 per share. The ex-dividend date of this dividend is Wednesday, September 27th. This is an increase from BanColombia’s previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a dividend yield of 2.76%. BanColombia’s dividend payout ratio (DPR) is currently 27.52%.

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CIB has been the subject of a number of recent research reports. BidaskClub upgraded BanColombia from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Zacks Investment Research upgraded BanColombia from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Friday, September 1st. Standpoint Research downgraded 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 BanColombia and gave the company a “hold” rating in a research note on Wednesday, May 24th. Finally, HSBC Holdings plc cut BanColombia from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. BanColombia presently has a consensus rating of “Hold” and an average price target of $46.33.

BanColombia Company 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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