Wealthquest Corp Buys New Holdings in BanColombia S.A. (NYSE:CIB)

Wealthquest Corp purchased a new stake in shares of BanColombia S.A. (NYSE:CIB - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,212 shares of the bank's stock, valued at approximately $290,000.

A number of other institutional investors have also recently made changes to their positions in the company. QRG Capital Management Inc. lifted its position 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 buying an additional 1,364 shares during the last quarter. Whipplewood Advisors LLC lifted its position in shares of BanColombia by 4,800.9% during the 1st quarter. Whipplewood Advisors LLC now owns 5,195 shares of the bank's stock valued at $209,000 after buying an additional 5,089 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of BanColombia by 4,011.7% during the 1st quarter. GAMMA Investing LLC now owns 32,441 shares of the bank's stock valued at $1,304,000 after buying an additional 31,652 shares during the last quarter. Boston Common Asset Management LLC lifted its position in shares of BanColombia by 3.3% during the 1st quarter. Boston Common Asset Management LLC now owns 195,615 shares of the bank's stock valued at $7,864,000 after buying an additional 6,242 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of BanColombia by 31.1% during the 4th quarter. Mackenzie Financial Corp now owns 48,365 shares of the bank's stock valued at $1,524,000 after buying an additional 11,486 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, UBS Group reaffirmed a "neutral" rating and set a $38.00 price target (up previously from $35.00) on shares of BanColombia in a research 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 MarketBeat, BanColombia presently has a consensus rating of "Hold" and a consensus price target of $39.00.

BanColombia Price Performance

CIB traded up $0.20 during trading on Thursday, reaching $45.40. 195,876 shares of the company were exchanged, compared to its average volume of 330,448. The company's 50-day moving average is $41.90 and its two-hundred day moving average is $39.19. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 7.28, a P/E/G ratio of 1.00 and a beta of 0.91. 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 S.A. has a 12-month low of $30.25 and a 12-month high of $45.81.

BanColombia Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, May 9th. Shareholders of record on Tuesday, April 29th were paid a $0.5745 dividend. This is a positive change from BanColombia's previous dividend of $0.30. This represents a yield of 17.13%. The ex-dividend date of this dividend was Monday, April 28th. BanColombia's dividend payout ratio is currently 104.81%.

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.