RWC Asset Management LLP Purchases Shares of 311,853 BanColombia S.A. (NYSE:CIB)

Key Points

• RWC Asset Management LLP has made a new investment of approximately $12.54 million in BanColombia S.A. by purchasing 311,853 shares in the first quarter.
• Other institutional investors, including JPMorgan Chase & Co. and Vanguard Group Inc., have also increased their holdings in BanColombia, indicating growing interest in the bank's stock.
• Despite recent investments, analysts maintain a consensus rating of "Hold" on BanColombia, with a price target of $39.00.

RWC Asset Management LLP purchased a new position in shares of BanColombia S.A. (NYSE:CIB - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 311,853 shares of the bank's stock, valued at approximately $12,536,000. RWC Asset Management LLP owned 0.13% of BanColombia as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Whipplewood Advisors LLC grew its position in BanColombia by 4,800.9% during the first 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. Wealthquest Corp acquired a new position in BanColombia during the first quarter worth about $290,000. Mercer Global Advisors Inc. ADV grew its position in BanColombia by 16.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,824 shares of the bank's stock worth $247,000 after buying an additional 1,085 shares during the period. Quadrant Capital Group LLC grew its position in BanColombia by 13.3% during the fourth quarter. Quadrant Capital Group LLC now owns 9,587 shares of the bank's stock worth $302,000 after buying an additional 1,128 shares during the period. Finally, Raiffeisen Bank International AG purchased a new stake in shares of BanColombia in the fourth quarter valued at about $304,000.

Analyst Ratings Changes

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

BanColombia Trading Down 0.7%

Shares of CIB traded down $0.32 on Monday, hitting $43.78. 414,599 shares of the stock traded hands, compared to its average volume of 191,086. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $10.53 billion, a P/E ratio of 7.02, a P/E/G ratio of 0.96 and a beta of 0.93. The stock's 50 day moving average is $43.74 and its two-hundred day moving average is $41.27. BanColombia S.A. has a 1 year low of $30.25 and a 1 year high of $46.81.

About BanColombia

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.