Public Employees Retirement System of Ohio Takes $2.67 Million Position in Bancolombia S.A. (NYSE:CIB)

Public Employees Retirement System of Ohio purchased a new position in shares of Bancolombia S.A. (NYSE:CIB) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 84,992 shares of the bank’s stock, valued at approximately $2,667,000.

Other large investors also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC lifted its position in shares of Bancolombia by 6.4% during the third quarter. Measured Wealth Private Client Group LLC now owns 7,800 shares of the bank’s stock worth $245,000 after purchasing an additional 471 shares during the last quarter. Signaturefd LLC boosted its position in Bancolombia by 10.6% in the 2nd quarter. Signaturefd LLC now owns 5,053 shares of the bank’s stock valued at $165,000 after buying an additional 484 shares during the period. Blue Trust Inc. grew its stake in Bancolombia by 96.5% in the 3rd quarter. Blue Trust Inc. now owns 1,305 shares of the bank’s stock worth $43,000 after acquiring an additional 641 shares in the last quarter. US Bancorp DE increased its position in shares of Bancolombia by 18.9% during the third quarter. US Bancorp DE now owns 5,282 shares of the bank’s stock worth $166,000 after acquiring an additional 839 shares during the period. Finally, Venturi Wealth Management LLC bought a new stake in shares of Bancolombia during the third quarter valued at approximately $27,000.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. The Goldman Sachs Group cut Bancolombia from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $34.00 to $32.00 in a research note on Tuesday, August 20th. Bank of America downgraded 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 research report on Thursday, August 29th.

Bancolombia Stock Performance

Shares of CIB stock opened at $32.86 on Tuesday. Bancolombia S.A. has a 52-week low of $28.99 and a 52-week high of $37.85. The company’s 50 day moving average is $32.37 and its 200 day moving average is $32.73. The firm has a market cap of $7.90 billion, a price-to-earnings ratio of 5.21, a PEG ratio of 3.47 and a beta of 1.22. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.34.

Bancolombia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be given a dividend of $0.8044 per share. 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 currently 50.87%.

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.