Bancolombia SA (CIB) Given Consensus Recommendation of “Hold” by Brokerages
Bancolombia SA (NYSE:CIB) has earned a consensus rating of “Hold” from the seven ratings firms that are presently covering the company. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $39.17.
A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded Bancolombia SA from a “hold” rating to a “strong-buy” rating and set a $45.00 target price on the stock in a research report on Tuesday, November 8th. Credit Suisse Group AG reiterated a “hold” rating and issued a $40.00 target price on shares of Bancolombia SA in a research report on Tuesday, November 22nd. Finally, 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 research report on Monday, August 22nd.
A number of large investors have recently added to or reduced their stakes in the company. Axiom International Investors LLC DE bought a new stake in Bancolombia SA during the second quarter valued at approximately $30,031,000. Harding Loevner LP raised its stake in Bancolombia SA by 30.1% in the second quarter. Harding Loevner LP now owns 3,634,184 shares of the company’s stock valued at $126,906,000 after buying an additional 841,700 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in Bancolombia SA during the second quarter valued at approximately $25,316,000. Principal Financial Group Inc. bought a new stake in Bancolombia SA during the second quarter valued at approximately $19,335,000. Finally, USS Investment Management Ltd bought a new stake in Bancolombia SA during the second quarter valued at approximately $9,876,000. Institutional investors and hedge funds own 12.39% of the company’s stock.
Shares of Bancolombia SA (NYSE:CIB) opened at 33.01 on Tuesday. The company has a market cap of $7.94 billion, a PE ratio of 9.85 and a beta of 0.58. The stock’s 50 day moving average is $37.01 and its 200 day moving average is $36.47. Bancolombia SA has a 52-week low of $23.69 and a 52-week high of $42.58.
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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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