39,108 Shares in BanColombia S.A. (NYSE:CIB) Acquired by RWC Asset Advisors US LLC

Key Points

• RWC Asset Advisors US LLC acquired 39,108 shares of BanColombia S.A., valued at approximately $1,572,000, making it the firm's 18th largest holding.
• Several institutional investors, including Itau Unibanco and JPMorgan Chase, have made significant investments in BanColombia, with JPMorgan increasing its stake by 40%.
• UBS Group has upgraded its target price for BanColombia shares to $38.00 while the stock maintains a consensus "Hold" rating among analysts.

RWC Asset Advisors US LLC bought a new position 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. The institutional investor bought 39,108 shares of the bank's stock, valued at approximately $1,572,000. BanColombia accounts for 0.3% of RWC Asset Advisors US LLC's portfolio, making the stock its 18th largest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of BanColombia by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 3,099,224 shares of the bank's stock worth $97,657,000 after acquiring an additional 19,499 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of BanColombia by 12.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 928,679 shares of the bank's stock worth $29,263,000 after purchasing an additional 102,015 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of BanColombia in the 4th quarter worth approximately $24,801,000. JPMorgan Chase & Co. boosted its position in shares of BanColombia by 40.0% in the 4th 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. Finally, Dimensional Fund Advisors LP boosted its position in shares of BanColombia by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 365,603 shares of the bank's stock worth $11,523,000 after purchasing an additional 14,293 shares in the last quarter.

Analyst Upgrades and Downgrades

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

BanColombia Stock Down 1.5%

NYSE CIB traded down $0.67 during mid-day trading on Wednesday, reaching $43.68. The stock had a trading volume of 105,543 shares, compared to its average volume of 399,423. BanColombia S.A. has a 1 year low of $30.25 and a 1 year high of $46.81. The stock has a market cap of $10.50 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 0.95 and a beta of 0.93. The company has a fifty day moving average price of $43.84 and a 200 day moving average price of $41.37. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00.

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.