Credit Suisse Group AG cut shares of Bancolombia SA (NYSE:CIB) from an outperform rating to a neutral rating in a research report released on Thursday. The brokerage currently has $40.00 price objective on the stock, up from their prior price objective of $38.00.

CIB has been the subject of a number of other research reports. Deutsche Bank AG upgraded Bancolombia SA from a hold rating to a buy rating and set a $47.00 price objective for the company in a research note on Monday, August 22nd. Zacks Investment Research cut Bancolombia SA from a buy rating to a hold rating in a research note on Tuesday, June 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $40.38.

Analyst Recommendations for Bancolombia SA (NYSE:CIB)

Shares of Bancolombia SA (NYSE:CIB) traded down 0.05% during midday trading on Thursday, reaching $38.03. 136,323 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $39.08 and a 200-day moving average of $36.15. Bancolombia SA has a 12-month low of $23.69 and a 12-month high of $42.58. The stock has a market capitalization of $9.14 billion, a P/E ratio of 11.55 and a beta of 0.69.

Several hedge funds and other institutional investors have recently bought and sold shares of CIB. Quantbot Technologies LP acquired a new stake in shares of Bancolombia SA during the second quarter valued at approximately $110,000. DIAM Co. Ltd. acquired a new stake in shares of Bancolombia SA during the second quarter valued at approximately $134,000. US Bancorp DE increased its stake in shares of Bancolombia SA by 215.7% in the second quarter. US Bancorp DE now owns 4,452 shares of the company’s stock valued at $155,000 after buying an additional 3,042 shares during the last quarter. Flow Traders U.S. LLC acquired a new stake in shares of Bancolombia SA during the first quarter valued at approximately $171,000. Finally, Eqis Capital Management Inc. acquired a new stake in shares of Bancolombia SA during the third quarter valued at approximately $211,000. 12.37% of the stock is currently owned by institutional investors.

About Bancolombia SA

Bancolombia SA (Bancolombia) is a financial institution engaged in providing a range of financial products and services to a diversified individual, corporate, and government customer base throughout Colombia, Latin America and the Caribbean region. The Bank operates through 10 segments: Banking Colombia, Banking Panama, Banking El Salvador, Leasing, Trust, Investment Banking, Brokerage, Off Shore and All other.

5 Day Chart for NYSE:CIB

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