RWC Asset Advisors US LLC Invests $1.57 Million in BanColombia S.A. (NYSE:CIB)

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 acquired a new position in shares of BanColombia S.A. (NYSE:CIB - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 39,108 shares of the bank's stock, valued at approximately $1,572,000. BanColombia comprises approximately 0.3% of RWC Asset Advisors US LLC's investment portfolio, making the stock its 18th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its position 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 purchasing an additional 19,499 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in BanColombia by 12.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 928,679 shares of the bank's stock worth $29,263,000 after acquiring an additional 102,015 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in BanColombia during the 4th quarter worth about $24,801,000. JPMorgan Chase & Co. lifted its stake in BanColombia by 40.0% during the 4th quarter. JPMorgan Chase & Co. now owns 484,281 shares of the bank's stock worth $15,260,000 after acquiring an additional 138,461 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in BanColombia by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 365,603 shares of the bank's stock worth $11,523,000 after acquiring an additional 14,293 shares in the last quarter.

BanColombia Stock Down 0.7%

Shares of CIB traded down $0.32 during midday trading on Monday, hitting $43.78. The company had a trading volume of 414,599 shares, compared to its average volume of 191,086. The company's 50-day simple moving average is $43.74 and its 200-day simple moving average is $41.27. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $10.53 billion, a P/E ratio of 7.07, a P/E/G ratio of 0.96 and a beta of 0.93. BanColombia S.A. has a 1 year low of $30.25 and a 1 year high of $46.81.

Analyst Ratings Changes

Separately, UBS Group reissued a "neutral" rating and set a $38.00 target price (up previously from $35.00) on shares of BanColombia in a research note on Monday, June 2nd. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $39.00.

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.