Millennium Management LLC Has $1.59 Million Stake in Bancolombia S.A. (NYSE:CIB)

Millennium Management LLC lowered its stake in Bancolombia S.A. (NYSE:CIB - Free Report) by 59.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,536 shares of the bank's stock after selling 74,248 shares during the quarter. Millennium Management LLC's holdings in Bancolombia were worth $1,592,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CIB. Caprock Group LLC lifted its holdings in shares of Bancolombia by 21.8% in the fourth quarter. Caprock Group LLC now owns 24,324 shares of the bank's stock worth $786,000 after acquiring an additional 4,360 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 buying an additional 657 shares during the last quarter. Measured Wealth Private Client Group LLC raised its holdings in Bancolombia by 13.4% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 8,848 shares of the bank's stock valued at $279,000 after buying an additional 1,048 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in 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 buying an additional 2,949 shares during the last quarter. Finally, US Bancorp DE raised its holdings in Bancolombia by 5.9% in the 4th quarter. US Bancorp DE now owns 5,594 shares of the bank's stock valued at $176,000 after buying an additional 312 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CIB shares. UBS Group reiterated a "neutral" rating and issued a $38.00 price objective (up previously from $35.00) on shares of Bancolombia in a report on Monday, June 2nd. The Goldman Sachs Group raised their price objective on shares of Bancolombia from $31.00 to $35.00 and gave the company a "sell" rating in a report on Monday, February 24th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $39.00.

Bancolombia Trading Down 1.2%

NYSE:CIB traded down $0.52 on Friday, reaching $43.06. 348,806 shares of the stock traded hands, compared to its average volume of 327,219. The firm has a market capitalization of $10.35 billion, a price-to-earnings ratio of 6.83, a price-to-earnings-growth ratio of 2.47 and a beta of 0.91. The company's 50 day moving average is $40.78 and its 200-day moving average is $38.28. 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 S.A. has a 1-year low of $30.25 and a 1-year high of $44.93.

Bancolombia Increases Dividend

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

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.