R Squared Ltd Takes $121,000 Position in Bancolombia S.A. (NYSE:CIB)

R Squared Ltd bought a new stake in Bancolombia S.A. (NYSE:CIB) in the 4th quarter, Holdings Channel.com reports. The fund bought 3,850 shares of the bank’s stock, valued at approximately $121,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Bancolombia by 12.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,323,482 shares of the bank’s stock worth $41,531,000 after acquiring an additional 150,022 shares during the period. Wellington Management Group LLP acquired a new position in Bancolombia during the third quarter worth approximately $8,208,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Bancolombia by 7.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 128,546 shares of the bank’s stock worth $4,034,000 after purchasing an additional 8,432 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Bancolombia in the 3rd quarter valued at $2,845,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Bancolombia during the 3rd quarter valued at $2,667,000.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised Bancolombia from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $53.00 in a research report on Tuesday.

Bancolombia Trading Down 1.1 %

Shares of CIB stock opened at $39.87 on Friday. 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 S.A. has a fifty-two week low of $30.25 and a fifty-two week high of $40.62. The firm’s 50 day moving average price is $33.08 and its two-hundred day moving average price is $32.64. The stock has a market cap of $9.59 billion, a price-to-earnings ratio of 6.32, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20.

Bancolombia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were given a dividend of $0.8044 per share. The ex-dividend date was Monday, December 30th. This represents a $3.22 dividend on an annualized basis and a yield of 8.07%. Bancolombia’s dividend payout ratio (DPR) is 50.71%.

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.