Bancolombia SA (CIB) Lowered to Hold at Zacks Investment Research
According to Zacks, “BanColombia is Colombia’s largest bank in terms of assets and also has the largest market participation in deposit products and loans. “
A number of other brokerages have also recently issued reports on CIB. Credit Suisse Group AG reiterated a hold rating and issued a $40.00 target price on shares of Bancolombia SA in a report on Tuesday. Deutsche Bank AG upgraded Bancolombia SA from a hold rating to a buy rating and set a $47.00 target price on the stock in a report on Monday, August 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Bancolombia SA currently has an average rating of Hold and an average price target of $40.63.
Bancolombia SA (NYSE:CIB) opened at 33.10 on Tuesday. The firm has a market capitalization of $7.96 billion, a P/E ratio of 10.36 and a beta of 0.58. The company’s 50-day moving average is $37.29 and its 200-day moving average is $36.51. Bancolombia SA has a one year low of $23.69 and a one year high of $42.58.
Several large investors have recently made changes to their positions in CIB. Principal Financial Group Inc. acquired a new stake in shares of Bancolombia SA during the second quarter valued at about $19,335,000. UBS Asset Management Americas Inc. raised its stake in shares of Bancolombia SA by 20.1% in the first quarter. UBS Asset Management Americas Inc. now owns 95,545 shares of the company’s stock valued at $3,266,000 after buying an additional 16,000 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Bancolombia SA by 3.3% in the second quarter. Ameriprise Financial Inc. now owns 200,831 shares of the company’s stock valued at $7,015,000 after buying an additional 6,358 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Bancolombia SA by 5.6% in the second quarter. JPMorgan Chase & Co. now owns 667,584 shares of the company’s stock valued at $23,312,000 after buying an additional 35,184 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Bancolombia SA by 7.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 67,680 shares of the company’s stock valued at $2,364,000 after buying an additional 4,640 shares in the last quarter. 12.39% of the stock is owned by hedge funds and other institutional investors.
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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.
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