Wellington Management Group LLP Makes New $8.21 Million Investment in Bancolombia S.A. (NYSE:CIB)

Wellington Management Group LLP bought a new position in Bancolombia S.A. (NYSE:CIB - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 261,575 shares of the bank's stock, valued at approximately $8,208,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CIB. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Bancolombia by 45.3% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,412,322 shares of the bank's stock worth $46,112,000 after acquiring an additional 440,026 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Bancolombia by 12.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,323,482 shares of the bank's stock worth $41,531,000 after purchasing an additional 150,022 shares during the last quarter. Moneda S.A. Administradora General de Fondos bought a new stake in Bancolombia in the second quarter worth $5,756,000. Summit Global Investments boosted its position in Bancolombia by 228.3% during the second quarter. Summit Global Investments now owns 146,944 shares of the bank's stock valued at $4,798,000 after buying an additional 102,182 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Bancolombia by 117.2% during the second quarter. Renaissance Technologies LLC now owns 139,200 shares of the bank's stock valued at $4,545,000 after buying an additional 75,100 shares during the last quarter.

Bancolombia Trading Down 1.0 %

Shares of NYSE:CIB traded down $0.33 during midday trading on Monday, hitting $32.86. 159,836 shares of the stock traded hands, compared to its average volume of 263,367. 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 business's 50 day moving average is $32.37 and its two-hundred day moving average is $32.73. The stock has a market capitalization of $7.90 billion, a PE ratio of 5.21, a P/E/G ratio of 3.47 and a beta of 1.22. Bancolombia S.A. has a one year low of $28.99 and a one year high of $37.85.

Bancolombia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors 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 yield of 9.79%. The ex-dividend date of this dividend is Monday, December 30th. Bancolombia's payout ratio is 50.87%.

Wall Street Analysts Forecast Growth

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

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.