Bank of America Corp DE Purchases 19,960 Shares of Bancolombia S.A. (NYSE:CIB)

Bank of America Corp DE increased its position in Bancolombia S.A. (NYSE:CIB - Free Report) by 13.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 169,661 shares of the bank's stock after purchasing an additional 19,960 shares during the quarter. Bank of America Corp DE owned approximately 0.07% of Bancolombia worth $5,346,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lindbrook Capital LLC lifted its stake in shares of Bancolombia by 74.7% in the 4th quarter. Lindbrook Capital LLC now owns 968 shares of the bank's stock valued at $31,000 after purchasing an additional 414 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Bancolombia by 41.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank's stock valued at $72,000 after purchasing an additional 657 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Bancolombia in the 4th quarter valued at approximately $89,000. R Squared Ltd purchased a new position in shares of Bancolombia in the 4th quarter valued at approximately $121,000. Finally, V Square Quantitative Management LLC lifted its stake in shares of Bancolombia by 126.1% in the 4th quarter. V Square Quantitative Management LLC now owns 5,288 shares of the bank's stock valued at $169,000 after purchasing an additional 2,949 shares during the period.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised their target price on Bancolombia from $31.00 to $35.00 and gave the company a "sell" rating in a research note on Monday, February 24th.

Bancolombia Stock Up 0.1%

NYSE:CIB traded up $0.05 during trading hours on Thursday, reaching $42.38. 410,430 shares of the company traded hands, compared to its average volume of 319,592. The business's 50-day moving average price is $40.76 and its two-hundred day moving average price is $37.82. The stock has a market capitalization of $10.19 billion, a P/E ratio of 6.73, a P/E/G ratio of 2.47 and a beta of 0.91. Bancolombia S.A. has a 1 year low of $30.25 and a 1 year high of $44.93. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60.

Bancolombia Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, May 9th. Shareholders of record on Tuesday, April 29th were paid a dividend of $0.5745 per share. This is a boost 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 payout ratio is presently 104.81%.

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.