Bancolombia S.A. (NYSE:CIB) Position Trimmed by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lowered its stake in Bancolombia S.A. (NYSE:CIB) by 44.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 738,976 shares of the bank’s stock after selling 584,506 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Bancolombia were worth $23,285,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wellington Management Group LLP acquired a new stake in Bancolombia during the 3rd quarter worth about $8,208,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Bancolombia in the third quarter valued at $2,845,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Bancolombia in the third quarter worth $2,667,000. Walleye Capital LLC purchased a new position in shares of Bancolombia during the third quarter valued at $1,250,000. Finally, Virtus Investment Advisers Inc. increased its holdings in shares of Bancolombia by 442.6% in the 3rd quarter. Virtus Investment Advisers Inc. now owns 24,274 shares of the bank’s stock valued at $762,000 after purchasing an additional 19,800 shares during the period.

Analyst Ratings Changes

Separately, Morgan Stanley upgraded shares of Bancolombia from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $53.00 in a research note on Tuesday.

Bancolombia Stock Performance

Shares of NYSE CIB opened at $39.87 on Friday. The business’s 50-day simple moving average is $33.08 and its 200-day simple moving average is $32.64. Bancolombia S.A. has a 52 week low of $30.25 and a 52 week high of $40.62. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 6.32, a P/E/G ratio of 1.87 and a beta of 1.20.

Bancolombia Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were given a dividend of $0.8044 per share. This represents a $3.22 dividend on an annualized basis and a yield of 8.07%. The ex-dividend date was Monday, December 30th. Bancolombia’s dividend payout ratio is 50.71%.

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.