Wealthquest Corp Invests $290,000 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 bought a new position in BanColombia S.A. (NYSE:CIB - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,212 shares of the bank's stock, valued at approximately $290,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whipplewood Advisors LLC grew its position in BanColombia by 4,800.9% during the first quarter. Whipplewood Advisors LLC now owns 5,195 shares of the bank's stock valued at $209,000 after purchasing an additional 5,089 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in BanColombia by 16.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,824 shares of the bank's stock valued at $247,000 after purchasing an additional 1,085 shares in the last quarter. Quadrant Capital Group LLC grew its position in BanColombia by 13.3% during the fourth quarter. Quadrant Capital Group LLC now owns 9,587 shares of the bank's stock valued at $302,000 after purchasing an additional 1,128 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC grew its position in BanColombia by 7.5% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 9,628 shares of the bank's stock valued at $303,000 after purchasing an additional 668 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new position in BanColombia during the fourth quarter valued at approximately $304,000.

BanColombia Stock Up 0.7%

CIB stock traded up $0.29 during trading hours on Monday, hitting $44.41. The company's stock had a trading volume of 82,513 shares, compared to its average volume of 396,256. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $10.68 billion, a PE ratio of 7.12, a price-to-earnings-growth ratio of 0.96 and a beta of 0.92. BanColombia S.A. has a 12 month low of $30.25 and a 12 month high of $46.81. The stock has a 50 day moving average price of $43.99 and a two-hundred day moving average price of $41.67.

Wall Street Analyst Weigh In

Separately, UBS Group reaffirmed a "neutral" rating and set a $38.00 price objective (up from $35.00) on shares of BanColombia in a research report on Monday, June 2nd. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, BanColombia currently 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.