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%.
WARNING: “Morgan Stanley Boosts Position in BanColombia S.A. (CIB)” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this report on another domain, it was illegally copied and republished in violation of US and international copyright law. The legal version of this report can be viewed at https://ledgergazette.com/2017/09/17/morgan-stanley-purchases-25509-shares-of-bancolombia-s-a-cib.html.
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.
Receive News & Ratings for BanColombia S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BanColombia S.A. and related companies with MarketBeat.com's FREE daily email newsletter.