Point72 Asset Management L.P. Reduces Stock Position in Bancolombia S.A. (NYSE:CIB)

Point72 Asset Management L.P. trimmed its position in Bancolombia S.A. (NYSE:CIB - Free Report) by 48.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,400 shares of the bank's stock after selling 7,900 shares during the period. Point72 Asset Management L.P.'s holdings in Bancolombia were worth $265,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CIB. Vanguard Group Inc. boosted its stake in Bancolombia by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 3,099,224 shares of the bank's stock valued at $97,657,000 after purchasing an additional 19,499 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Bancolombia by 12.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 928,679 shares of the bank's stock valued at $29,263,000 after purchasing an additional 102,015 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in Bancolombia during the 4th quarter valued at about $24,801,000. JPMorgan Chase & Co. boosted its stake in Bancolombia by 40.0% during the 4th quarter. JPMorgan Chase & Co. now owns 484,281 shares of the bank's stock valued at $15,260,000 after purchasing an additional 138,461 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Bancolombia by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 365,603 shares of the bank's stock valued at $11,523,000 after purchasing an additional 14,293 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CIB shares. Morgan Stanley upgraded Bancolombia from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $40.00 to $53.00 in a research note on Tuesday, January 28th. The Goldman Sachs Group upped their target price on Bancolombia from $31.00 to $35.00 and gave the company a "sell" rating in a report on Monday, February 24th.

Bancolombia Stock Performance

Shares of CIB stock traded up $0.46 during trading on Wednesday, hitting $42.68. The company's stock had a trading volume of 171,010 shares, compared to its average volume of 427,108. The company has a market cap of $10.26 billion, a PE ratio of 6.77, a P/E/G ratio of 2.47 and a beta of 0.91. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. The business has a fifty day moving average of $40.78 and a 200-day moving average of $37.72. Bancolombia S.A. has a 52 week low of $30.25 and a 52 week high of $44.93.

Bancolombia Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, May 9th. Investors of record on Tuesday, April 29th were paid a $0.5745 dividend. This is an increase from Bancolombia's previous dividend of $0.30. The ex-dividend date of this dividend was Monday, April 28th. This represents a yield of 17.13%. Bancolombia's dividend payout ratio is presently 104.81%.

Bancolombia Profile

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.