Northern Trust Corp Increases Position in Bancolombia S.A. (NYSE:CIB)

Northern Trust Corp grew its stake in Bancolombia S.A. (NYSE:CIB - Free Report) by 190.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,083 shares of the bank's stock after buying an additional 90,616 shares during the quarter. Northern Trust Corp owned approximately 0.06% of Bancolombia worth $4,351,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CIB. JPMorgan Chase & Co. grew its position in shares of Bancolombia by 40.0% during the fourth quarter. JPMorgan Chase & Co. now owns 484,281 shares of the bank's stock worth $15,260,000 after purchasing an additional 138,461 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Bancolombia during the fourth quarter worth about $3,104,000. Integrated Quantitative Investments LLC purchased a new stake in shares of Bancolombia during the fourth quarter worth about $693,000. Stokes Family Office LLC grew its position in shares of Bancolombia by 30.5% during the fourth quarter. Stokes Family Office LLC now owns 33,790 shares of the bank's stock worth $1,065,000 after purchasing an additional 7,907 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Bancolombia by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 3,099,224 shares of the bank's stock worth $97,657,000 after purchasing an additional 19,499 shares in the last quarter.

Analysts Set New Price Targets

Several research firms recently issued reports on CIB. The Goldman Sachs Group increased their target price on Bancolombia from $31.00 to $35.00 and gave the stock a "sell" rating in a research report on Monday, February 24th. Morgan Stanley raised Bancolombia from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $40.00 to $53.00 in a research note on Tuesday, January 28th.

Bancolombia Price Performance

Bancolombia stock traded up $0.66 during midday trading on Tuesday, reaching $42.23. 323,094 shares of the stock traded hands, compared to its average volume of 318,007. The stock's fifty day moving average is $40.78 and its 200-day moving average is $37.72. Bancolombia S.A. has a 12 month low of $30.25 and a 12 month high of $44.93. The stock has a market cap of $10.15 billion, a P/E ratio of 6.70, a PEG ratio of 2.47 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.60.

Bancolombia Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, May 9th. Stockholders of record on Tuesday, April 29th were issued a $0.5745 dividend. This represents a dividend yield of 17.13%. This is an increase from Bancolombia's previous dividend of $0.30. The ex-dividend date was Monday, April 28th. 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.