JBF Capital Inc. Buys New Position in BanColombia S.A. (NYSE:CIB)

Key Points

• JBF Capital Inc. acquired a new position in BanColombia S.A. by purchasing 6,000 shares worth approximately $241,000 in the first quarter of the year.
• Other hedge funds have also increased their investments in BanColombia, with notable purchases including Itau Unibanco's new $24.8 million position and JPMorgan Chase increasing its holdings by 40%.
• BanColombia's stock is currently rated as an average "Hold" by analysts, with a new price target set at $39.00 by UBS Group, reflecting a slight increase from a previous target of $35.00.

JBF Capital Inc. purchased a new stake in shares of BanColombia S.A. (NYSE:CIB - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,000 shares of the bank's stock, valued at approximately $241,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Dodge & Cox grew its holdings in shares of BanColombia by 2.7% during the fourth quarter. Dodge & Cox now owns 11,300 shares of the bank's stock valued at $356,000 after buying an additional 300 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC grew its stake in BanColombia by 7.5% in 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. US Bancorp DE grew its stake in BanColombia by 14.3% in the first quarter. US Bancorp DE now owns 6,394 shares of the bank's stock valued at $257,000 after purchasing an additional 800 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in BanColombia by 16.1% in 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. Finally, Quadrant Capital Group LLC grew its stake in BanColombia by 13.3% in 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.

Wall Street Analyst Weigh In

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

BanColombia Stock Performance

Shares of NYSE:CIB traded up $0.71 during trading on Friday, reaching $44.13. The stock had a trading volume of 329,076 shares, compared to its average volume of 213,933. BanColombia S.A. has a 52 week low of $30.25 and a 52 week high of $46.81. The firm has a market capitalization of $10.61 billion, a price-to-earnings ratio of 7.07, a P/E/G ratio of 0.94 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. The stock has a fifty day simple moving average of $43.99 and a two-hundred day simple moving average of $41.54.

BanColombia Company 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.