Wealthquest Corp Buys New Shares in BanColombia S.A. (NYSE:CIB)

Key Points

• Wealthquest Corp purchased 7,212 shares of BanColombia S.A. (NYSE:CIB), valued at approximately $290,000, indicating growing institutional interest in the bank's stock.
• UBS Group upgraded its price target for BanColombia shares from $35.00 to $38.00, while maintaining a "neutral" rating amidst a mixed consensus rating from analysts.
• Despite a recent decline of 0.8% in stock price, BanColombia's market capitalization stands at $10.43 billion, with a P/E ratio of 6.95.

Wealthquest Corp purchased a new stake in shares of BanColombia S.A. (NYSE:CIB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,212 shares of the bank's stock, valued at approximately $290,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CIB. Dodge & Cox grew its position in BanColombia by 2.7% in the 4th quarter. Dodge & Cox now owns 11,300 shares of the bank's stock worth $356,000 after purchasing an additional 300 shares during the period. Laird Norton Wetherby Wealth Management LLC grew its position in BanColombia by 7.5% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 9,628 shares of the bank's stock worth $303,000 after purchasing an additional 668 shares during the period. Mercer Global Advisors Inc. ADV grew its position in BanColombia by 16.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 7,824 shares of the bank's stock worth $247,000 after purchasing an additional 1,085 shares during the period. Quadrant Capital Group LLC grew its position in BanColombia by 13.3% in the 4th quarter. Quadrant Capital Group LLC now owns 9,587 shares of the bank's stock worth $302,000 after purchasing an additional 1,128 shares during the period. Finally, QRG Capital Management Inc. grew its position in BanColombia by 9.4% in the 1st quarter. QRG Capital Management Inc. now owns 15,840 shares of the bank's stock worth $637,000 after purchasing an additional 1,364 shares during the period.

BanColombia Stock Performance

Shares of CIB stock traded up $0.71 during mid-day trading on Friday, reaching $44.13. 329,076 shares of the company's stock traded hands, compared to its average volume of 213,933. BanColombia S.A. has a 12 month low of $30.25 and a 12 month high of $46.81. The firm has a 50 day moving average price of $43.99 and a two-hundred day moving average price of $41.54. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $10.61 billion, a PE ratio of 7.07, a price-to-earnings-growth ratio of 0.94 and a beta of 0.92.

Analysts Set New Price Targets

Separately, UBS Group reaffirmed a "neutral" rating and issued a $38.00 target price (up previously from $35.00) on shares of BanColombia in a research report on Monday, June 2nd. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $39.00.

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.