Wellington Management Group LLP Takes $8.21 Million Position in Bancolombia S.A. (NYSE:CIB)

Wellington Management Group LLP acquired a new position in Bancolombia S.A. (NYSE:CIB - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 261,575 shares of the bank's stock, valued at approximately $8,208,000.

Several other large investors also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC purchased a new stake in shares of Bancolombia in the 3rd quarter valued at about $27,000. Blue Trust Inc. raised its stake in Bancolombia by 96.5% in the third quarter. Blue Trust Inc. now owns 1,305 shares of the bank's stock valued at $43,000 after purchasing an additional 641 shares in the last quarter. Signaturefd LLC lifted its position in Bancolombia by 10.6% during the second quarter. Signaturefd LLC now owns 5,053 shares of the bank's stock valued at $165,000 after purchasing an additional 484 shares during the last quarter. US Bancorp DE grew its stake in Bancolombia by 18.9% in the 3rd quarter. US Bancorp DE now owns 5,282 shares of the bank's stock worth $166,000 after buying an additional 839 shares in the last quarter. Finally, AXA S.A. bought a new position in shares of Bancolombia in the 2nd quarter worth $192,000.

Bancolombia Price Performance

Shares of NYSE:CIB opened at $33.19 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.34. The stock has a market cap of $7.98 billion, a PE ratio of 5.26, a PEG ratio of 3.47 and a beta of 1.22. The company's fifty day moving average is $32.33 and its 200 day moving average is $32.75. Bancolombia S.A. has a 52 week low of $28.78 and a 52 week high of $37.85.

Bancolombia Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be paid a $0.8044 dividend. This represents a $3.22 dividend on an annualized basis and a dividend yield of 9.69%. The ex-dividend date of this dividend is Monday, December 30th. Bancolombia's dividend payout ratio (DPR) is presently 50.87%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CIB shares. The Goldman Sachs Group lowered shares of Bancolombia from a "neutral" rating to a "sell" rating and cut their target price for the stock from $34.00 to $32.00 in a research report on Tuesday, August 20th. Bank of America lowered Bancolombia from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $38.00 to $34.00 in a research report on Thursday, August 29th.

Check Out Our Latest Analysis on Bancolombia

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.

Featured Stories

• Five stocks we like better than Bancolombia
• What is a Secondary Public Offering? What Investors Need to Know
• Dave & Buster’s: Is It Time to Make Another Play on This Stock?
• What Does a Stock Split Mean?
• Why Hershey Stock Has More Room to Run Despite Takeover Rejection
• 2 Rising CRM Platform Stocks That Can Surge Higher in 2025
• Texas Instruments: The Old-School Tech Titan Still Delivering

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

→ URGENT: This Altcoin Opportunity Won’t Wait – Act Now (From Crypto Swap Profits) (Ad)

Should you invest $1,000 in Bancolombia right now?

Before you consider Bancolombia, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bancolombia wasn't on the list.

While Bancolombia currently has a "Strong Sell" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here