Earnest Partners LLC increased its position in BanColombia S.A. (NYSE:CIB) by 4.6% during the first quarter, Holdings Channel reports. The fund owned 2,893,735 shares of the bank’s stock after buying an additional 126,695 shares during the period. BanColombia accounts for 1.2% of Earnest Partners LLC’s holdings, making the stock its 19th largest position. Earnest Partners LLC’s holdings in BanColombia were worth $115,373,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the company. World Asset Management Inc increased its position in shares of BanColombia by 0.8% in the first quarter. World Asset Management Inc now owns 7,031 shares of the bank’s stock worth $280,000 after buying an additional 53 shares during the last quarter. Comerica Bank increased its position in shares of BanColombia by 1.3% in the first quarter. Comerica Bank now owns 6,480 shares of the bank’s stock worth $252,000 after buying an additional 85 shares during the last quarter. Rockefeller Financial Services Inc. increased its position in shares of BanColombia by 2.0% in the first quarter. Rockefeller Financial Services Inc. now owns 15,262 shares of the bank’s stock worth $608,000 after buying an additional 303 shares during the last quarter. Huntington National Bank increased its position in shares of BanColombia by 12.7% in the first quarter. Huntington National Bank now owns 3,235 shares of the bank’s stock worth $129,000 after buying an additional 365 shares during the last quarter. Finally, Guggenheim Capital LLC increased its position in shares of BanColombia by 0.6% in the fourth quarter. Guggenheim Capital LLC now owns 68,329 shares of the bank’s stock worth $2,506,000 after buying an additional 385 shares during the last quarter. Hedge funds and other institutional investors own 16.06% of the company’s stock.
BanColombia S.A. (CIB) traded up 0.79% during midday trading on Friday, reaching $45.83. The company’s stock had a trading volume of 558,955 shares. BanColombia S.A. has a 52 week low of $31.98 and a 52 week high of $46.26. The stock has a market capitalization of $11.02 billion, a PE ratio of 10.53 and a beta of 0.35. The firm’s 50-day moving average price is $43.26 and its 200-day moving average price is $39.19.
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Several equities research analysts have issued reports on the company. Zacks Investment Research cut BanColombia from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. J P Morgan Chase & Co reissued a “neutral” rating and set a $41.00 target price (down previously from $42.00) on shares of BanColombia in a research note on Monday, June 5th. Credit Suisse Group set a $45.00 target price on BanColombia and gave the stock a “hold” rating in a research note on Wednesday, May 24th. Standpoint Research cut BanColombia from a “buy” rating to a “hold” rating in a research note on Monday, May 22nd. Finally, HSBC Holdings plc raised BanColombia from a “hold” rating to a “buy” rating in a research note on Friday, March 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $43.50.
BanColombia Company Profile
Bancolombia SA (Bancolombia) is a financial institution engaged in providing a range of financial products and services to a diversified individual, corporate, and government customer base throughout Colombia, Latin America and the Caribbean region. The Bank operates through 10 segments: Banking Colombia, Banking Panama, Banking El Salvador, Leasing, Trust, Investment Banking, Brokerage, Off Shore and All other.
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