Allspring Global Investments Holdings LLC Decreases Stock Position in Bancolombia S.A. (NYSE:CIB)

Allspring Global Investments Holdings LLC cut its position in Bancolombia S.A. (NYSE:CIB) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 969,276 shares of the bank’s stock after selling 13,783 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.40% of Bancolombia worth $31,346,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CIB. Robeco Institutional Asset Management B.V. raised its holdings 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 valued at $41,531,000 after acquiring an additional 150,022 shares in the last quarter. Wellington Management Group LLP acquired a new stake in Bancolombia in the third quarter valued at $8,208,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Bancolombia by 7.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 128,546 shares of the bank’s stock valued at $4,034,000 after acquiring an additional 8,432 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Bancolombia in the third quarter valued at $2,845,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Bancolombia in the third quarter valued at $2,667,000.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley raised shares of Bancolombia from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $40.00 to $53.00 in a report on Tuesday, January 28th.

Bancolombia Stock Up 1.1 %

Shares of NYSE:CIB opened at $40.75 on Friday. The stock has a market capitalization of $9.80 billion, a price-to-earnings ratio of 6.46, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. Bancolombia S.A. has a 1-year low of $30.25 and a 1-year high of $41.00. The company’s fifty day moving average is $34.62 and its two-hundred day moving average is $33.12. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.00 and a current ratio of 1.00.

Bancolombia Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were issued a dividend of $0.8044 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 7.90%. Bancolombia’s dividend payout ratio (DPR) is 50.71%.

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.