Employees Retirement System of Texas Takes Position in Bancolombia SA (CIB)

Employees Retirement System of Texas bought a new position in Bancolombia SA (NYSE:CIB) in the fourth quarter, HoldingsChannel.com reports. The firm bought 62,000 shares of the bank’s stock, valued at approximately $2,362,000.

A number of other hedge funds have also recently modified their holdings of CIB. Genesis Asset Managers LLP raised its stake in Bancolombia by 43.9% in the 4th quarter. Genesis Asset Managers LLP now owns 2,255,752 shares of the bank’s stock worth $85,944,000 after acquiring an additional 687,889 shares during the last quarter. BlackRock Inc. raised its stake in shares of Bancolombia by 36.5% during the 3rd quarter. BlackRock Inc. now owns 1,737,961 shares of the bank’s stock valued at $72,509,000 after buying an additional 464,691 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Bancolombia by 4,005.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,517 shares of the bank’s stock valued at $13,496,000 after buying an additional 315,637 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Bancolombia by 617.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 116,283 shares of the bank’s stock valued at $5,556,000 after buying an additional 100,077 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new position in shares of Bancolombia during the 4th quarter valued at about $3,179,000. Institutional investors own 6.59% of the company’s stock.

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CIB has been the subject of a number of recent research reports. ValuEngine upgraded Bancolombia from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. Zacks Investment Research lowered Bancolombia from a “hold” rating to a “sell” rating in a research note on Monday, December 10th. Santander lowered Bancolombia from a “hold” rating to an “underperform” rating in a research note on Monday, November 19th. Bank of America upgraded Bancolombia from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 22nd. Finally, JPMorgan Chase & Co. upgraded Bancolombia from an “underweight” rating to a “neutral” rating in a research note on Monday, February 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $46.00.

NYSE CIB opened at $47.38 on Friday. The stock has a market cap of $11.43 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 0.98 and a beta of 0.71. Bancolombia SA has a fifty-two week low of $35.52 and a fifty-two week high of $51.38. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.77.

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About Bancolombia

Bancolombia SA provides various banking products and services to individual, corporate, and government customers in Colombia, Latin America, and the Caribbean region. The company operates in nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, Off Shore, and All Other.

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