BanColombia S.A. (NYSE:CIB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

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. “

CIB has been the topic of several other reports. BidaskClub lowered shares of BanColombia from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $41.00 price target (down from $42.00) on shares of BanColombia in a research report on Monday, June 5th. Credit Suisse Group set a $45.00 price target on shares of BanColombia and gave the stock a “hold” rating in a research report on Wednesday, May 24th. HSBC Holdings plc lowered shares of BanColombia from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. Finally, Standpoint Research lowered shares of BanColombia from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $45.00.

BanColombia (NYSE:CIB) opened at 45.41 on Wednesday. The company has a market cap of $10.92 billion, a P/E ratio of 11.04 and a beta of 0.32. The stock’s 50 day moving average is $44.02 and its 200-day moving average is $41.92. BanColombia has a 12-month low of $31.98 and a 12-month high of $47.19.

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A number of hedge funds have recently bought and sold shares of CIB. Bank of Montreal Can raised its stake in BanColombia by 2,896.6% in the first quarter. Bank of Montreal Can now owns 26,130 shares of the bank’s stock valued at $1,041,000 after buying an additional 25,258 shares during the period. GMT Capital Corp raised its stake in BanColombia by 84.7% in the first quarter. GMT Capital Corp now owns 1,050,472 shares of the bank’s stock valued at $41,882,000 after buying an additional 481,800 shares during the period. Huntington National Bank raised its stake in BanColombia by 12.7% in the first quarter. Huntington National Bank now owns 3,235 shares of the bank’s stock valued at $129,000 after buying an additional 365 shares during the period. Vanguard Group Inc. raised its stake in BanColombia by 4.4% in the first quarter. Vanguard Group Inc. now owns 3,050,136 shares of the bank’s stock valued at $121,609,000 after buying an additional 129,400 shares during the period. Finally, Comerica Bank raised its stake in BanColombia by 1.3% in the first quarter. Comerica Bank now owns 6,480 shares of the bank’s stock valued at $252,000 after buying an additional 85 shares during the period. 14.96% of the stock is currently owned by hedge funds and other institutional investors.

About BanColombia

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.

Analyst Recommendations for BanColombia (NYSE:CIB)

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