Russell Investments Group Ltd. Has $13.30 Million Position in BanColombia S.A. $CIB

Russell Investments Group Ltd. lifted its position in BanColombia S.A. (NYSE:CIB - Free Report) by 18.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 330,931 shares of the bank's stock after acquiring an additional 50,409 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.14% of BanColombia worth $13,303,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CIB. Laird Norton Wetherby Wealth Management LLC lifted its position in BanColombia by 7.5% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 9,628 shares of the bank's stock worth $303,000 after buying an additional 668 shares in the last quarter. Measured Wealth Private Client Group LLC raised its holdings in shares of BanColombia by 7.9% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 9,548 shares of the bank's stock valued at $384,000 after purchasing an additional 700 shares in the last quarter. US Bancorp DE raised its holdings in shares of BanColombia by 14.3% during the 1st 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 raised its holdings in shares of BanColombia by 16.1% during the 4th 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, QRG Capital Management Inc. raised its holdings in shares of BanColombia by 9.4% during the 1st quarter. QRG Capital Management Inc. now owns 15,840 shares of the bank's stock valued at $637,000 after purchasing an additional 1,364 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Bank of America upgraded shares of BanColombia from an "underperform" rating to a "neutral" rating and raised their target price for the company from $41.00 to $49.00 in a research note on Thursday, August 7th. UBS Group reiterated a "neutral" rating and issued a $38.00 target price (up from $35.00) on shares of BanColombia in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $43.75.

BanColombia Price Performance

CIB stock traded up $0.13 during trading on Friday, hitting $49.94. 73,585 shares of the stock traded hands, compared to its average volume of 393,318. BanColombia S.A. has a one year low of $30.65 and a one year high of $50.60. The stock has a market cap of $12.01 billion, a price-to-earnings ratio of 7.58, a P/E/G ratio of 0.99 and a beta of 0.92. The company has a 50 day simple moving average of $45.45 and a 200 day simple moving average of $42.72. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.29.

BanColombia (NYSE:CIB - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The bank reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.13. BanColombia had a net margin of 15.30% and a return on equity of 19.77%. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.75 billion. Equities analysts expect that BanColombia S.A. will post 6 EPS for the current fiscal year.

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.