BanColombia S.A. (NYSE:CIB) Shares Bought by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. boosted its position in BanColombia S.A. (NYSE:CIB - Free Report) by 68.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,710 shares of the bank's stock after purchasing an additional 20,285 shares during the quarter. Pekin Hardy Strauss Inc.'s holdings in BanColombia were worth $1,998,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC increased its holdings in shares of BanColombia by 74.7% during the fourth quarter. Lindbrook Capital LLC now owns 968 shares of the bank's stock valued at $31,000 after acquiring an additional 414 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of BanColombia in the fourth quarter worth approximately $89,000. US Bancorp DE boosted its position in shares of BanColombia by 5.9% in the fourth quarter. US Bancorp DE now owns 5,594 shares of the bank's stock worth $176,000 after purchasing an additional 312 shares during the period. Whipplewood Advisors LLC boosted its holdings in BanColombia by 4,800.9% in the 1st quarter. Whipplewood Advisors LLC now owns 5,195 shares of the bank's stock worth $209,000 after buying an additional 5,089 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in shares of BanColombia by 16.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 7,824 shares of the bank's stock valued at $247,000 after acquiring an additional 1,085 shares during the last quarter.

BanColombia Price Performance

Shares of NYSE:CIB traded down $0.10 during trading on Tuesday, reaching $44.84. 35,881 shares of the company's stock traded hands, compared to its average volume of 327,725. The company has a 50-day simple moving average of $42.69 and a 200-day simple moving average of $40.02. BanColombia S.A. has a fifty-two week low of $30.25 and a fifty-two week high of $46.81. The firm has a market cap of $10.78 billion, a PE ratio of 7.19, a P/E/G ratio of 1.00 and a beta of 0.93. 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 Increases Dividend

The company also recently declared a dividend, which was paid on Friday, May 9th. Stockholders of record on Tuesday, April 29th were paid a $0.5745 dividend. The ex-dividend date was Monday, April 28th. This is a positive change from BanColombia's previous dividend of $0.30. This represents a dividend yield of 17.13%. BanColombia's payout ratio is currently 91.19%.

Analysts Set New Price Targets

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 report on Monday, June 2nd. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $39.00.

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.