Swedbank AB Sells 46,400 Shares of Bancolombia S.A. (NYSE:CIB)

Swedbank AB lowered its stake in Bancolombia S.A. (NYSE:CIB - Free Report) by 17.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 224,200 shares of the bank's stock after selling 46,400 shares during the period. Swedbank AB owned approximately 0.09% of Bancolombia worth $7,065,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Measured Wealth Private Client Group LLC grew its stake in Bancolombia by 6.4% in the 3rd quarter. Measured Wealth Private Client Group LLC now owns 7,800 shares of the bank's stock valued at $245,000 after buying an additional 471 shares during the last quarter. Blue Trust Inc. grew its position in shares of Bancolombia by 96.5% during the 3rd quarter. Blue Trust Inc. now owns 1,305 shares of the bank's stock worth $43,000 after purchasing an additional 641 shares in the last quarter. Ballentine Partners LLC grew its position in shares of Bancolombia by 6.5% during the 4th quarter. Ballentine Partners LLC now owns 11,209 shares of the bank's stock worth $353,000 after purchasing an additional 680 shares in the last quarter. US Bancorp DE grew its position in shares of Bancolombia by 18.9% during the 3rd quarter. US Bancorp DE now owns 5,282 shares of the bank's stock worth $166,000 after purchasing an additional 839 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of Bancolombia during the 3rd quarter worth approximately $27,000.

Bancolombia Price Performance

Shares of Bancolombia stock traded down $0.10 on Wednesday, reaching $39.17. 400,389 shares of the stock were exchanged, compared to its average volume of 451,734. The firm's 50 day moving average is $33.59 and its 200-day moving average is $32.78. Bancolombia S.A. has a one year low of $30.25 and a one year 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 $9.42 billion, a PE ratio of 6.21, a P/E/G ratio of 2.25 and a beta of 1.22.

Bancolombia Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were issued a dividend of $0.8044 per share. This represents a $3.22 dividend on an annualized basis and a dividend yield of 8.22%. The ex-dividend date was Monday, December 30th. Bancolombia's dividend payout ratio (DPR) is presently 50.71%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley upgraded shares of Bancolombia from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $40.00 to $53.00 in a research report on Tuesday, January 28th.

Bancolombia 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.