Earnest Partners LLC Increases Stake in BanColombia S.A. (CIB)

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.

Institutional Ownership by Quarter for BanColombia (NYSE:CIB)

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.

Want to see what other hedge funds are holding CIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BanColombia S.A. (NYSE:CIB).

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