Voya Investment Management LLC Increases Stake in BanColombia S.A. (CIB)
Voya Investment Management LLC lifted its holdings in BanColombia S.A. (NYSE:CIB) by 15.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 15,831 shares of the bank’s stock after purchasing an additional 2,173 shares during the period. Voya Investment Management LLC’s holdings in BanColombia were worth $705,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Advisor Group Inc. lifted its position in shares of BanColombia by 1.6% in the 2nd quarter. Advisor Group Inc. now owns 3,227 shares of the bank’s stock worth $144,000 after purchasing an additional 52 shares during the period. Morgan Stanley lifted its position in shares of BanColombia by 166.6% in the 1st quarter. Morgan Stanley now owns 40,816 shares of the bank’s stock worth $1,628,000 after purchasing an additional 25,509 shares during the period. Legal & General Group Plc lifted its position in shares of BanColombia by 2.5% in the 2nd quarter. Legal & General Group Plc now owns 334,183 shares of the bank’s stock worth $14,884,000 after purchasing an additional 8,228 shares during the period. BNP Paribas Arbitrage SA lifted its position in shares of BanColombia by 529.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 47,873 shares of the bank’s stock worth $2,133,000 after purchasing an additional 40,271 shares during the period. Finally, Edmond DE Rothschild Holding S.A. lifted its position in shares of BanColombia by 96.9% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 69,500 shares of the bank’s stock worth $3,096,000 after purchasing an additional 34,200 shares during the period. 14.85% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of BanColombia from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Tuesday, August 15th. BidaskClub cut shares of BanColombia from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. HSBC Holdings plc cut shares of BanColombia from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. Finally, Deutsche Bank AG cut shares of BanColombia from a “buy” rating to a “hold” rating and decreased their target price for the company from $52.00 to $45.00 in a research report on Friday, October 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. BanColombia presently has an average rating of “Hold” and an average target price of $46.00.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Thursday, September 28th were paid a $0.3278 dividend. The ex-dividend date was Wednesday, September 27th. This represents a $1.31 dividend on an annualized basis and a yield of 3.47%. This is an increase from BanColombia’s previous quarterly dividend of $0.33. BanColombia’s payout ratio is currently 30.26%.
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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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