Barings LLC Takes $831,000 Position in BanColombia S.A. (NYSE:CIB)

Key Points

• Barings LLC invested approximately $831,000 in BanColombia S.A. during the first quarter, acquiring 20,666 shares of the bank's stock.
• UBS Group has reissued a "neutral" rating for BanColombia with a price target raised to $38.00, while the consensus price target stands at $39.00.
• BanColombia's stock is currently trading at $44.13, with a market cap of $10.61 billion and a P/E ratio of 7.07.

Barings LLC purchased a new stake in shares of BanColombia S.A. (NYSE:CIB - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 20,666 shares of the bank's stock, valued at approximately $831,000.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased 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 in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of BanColombia during the fourth quarter valued at approximately $24,801,000. JPMorgan Chase & Co. raised its holdings in BanColombia by 40.0% in the 4th quarter. JPMorgan Chase & Co. now owns 484,281 shares of the bank's stock worth $15,260,000 after acquiring an additional 138,461 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in BanColombia by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 365,603 shares of the bank's stock valued at $11,523,000 after acquiring an additional 14,293 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in BanColombia by 35.9% during the 4th quarter. Lazard Asset Management LLC now owns 321,417 shares of the bank's stock valued at $10,127,000 after purchasing an additional 84,837 shares during the last quarter.

BanColombia Stock Performance

CIB traded up $0.53 during mid-day trading on Wednesday, reaching $45.47. 156,376 shares of the company traded hands, compared to its average volume of 394,104. The company's fifty day moving average price is $44.11 and its 200-day moving average price is $41.78. The stock has a market capitalization of $10.93 billion, a P/E ratio of 7.30, a P/E/G ratio of 0.97 and a beta of 0.92. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.26. BanColombia S.A. has a 52-week low of $30.57 and a 52-week high of $46.81.

Analyst Upgrades and Downgrades

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