Point72 Asset Management L.P. Acquires 15,800 Shares of Bancolombia S.A. (NYSE:CIB)

Point72 Asset Management L.P. lifted its stake in shares of Bancolombia S.A. (NYSE:CIB - Free Report) by 3,160.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,300 shares of the bank's stock after buying an additional 15,800 shares during the quarter. Point72 Asset Management L.P.'s holdings in Bancolombia were worth $511,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of CIB. Venturi Wealth Management LLC acquired a new position in Bancolombia during the third quarter worth $27,000. Blue Trust Inc. lifted its position in shares of Bancolombia by 96.5% during 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 boosted its holdings in Bancolombia by 10.6% during the second quarter. Signaturefd LLC now owns 5,053 shares of the bank's stock worth $165,000 after purchasing an additional 484 shares during the last quarter. US Bancorp DE increased its stake in Bancolombia by 18.9% in the 3rd quarter. US Bancorp DE now owns 5,282 shares of the bank's stock valued at $166,000 after buying an additional 839 shares during the last quarter. Finally, AXA S.A. bought a new position in shares of Bancolombia during the 2nd quarter worth approximately $192,000.

Bancolombia Stock Performance

Shares of NYSE:CIB traded down $0.17 during mid-day trading on Thursday, reaching $33.15. The company had a trading volume of 148,382 shares, compared to its average volume of 264,319. Bancolombia S.A. has a one year low of $28.08 and a one year high of $37.85. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.34. The company's 50-day moving average price is $32.30 and its 200-day moving average price is $32.80. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 5.25, a PEG ratio of 3.40 and a beta of 1.22.

Bancolombia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be paid a $0.8044 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $3.22 annualized dividend and a dividend yield of 9.71%. Bancolombia's payout ratio is presently 50.87%.

Analyst Upgrades and Downgrades

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

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.