Bancolombia (NYSE:CIB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
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 also recently weighed in on CIB. Citigroup upgraded Bancolombia from a “sell” rating to a “neutral” rating in a research note on Monday, August 27th. ValuEngine upgraded Bancolombia from a “strong sell” rating to a “sell” rating in a research note on Friday, September 21st. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $46.00.
Shares of NYSE CIB traded down $0.05 during midday trading on Monday, reaching $38.88. The company’s stock had a trading volume of 81,558 shares, compared to its average volume of 377,596. Bancolombia has a 12-month low of $35.92 and a 12-month high of $51.38. The company has a market capitalization of $9.36 billion, a PE ratio of 10.68, a PEG ratio of 0.76 and a beta of 0.58. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.78.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vontobel Asset Management Inc. purchased a new position in Bancolombia in the second quarter valued at approximately $200,840,000. Marathon Asset Management LLP lifted its stake in Bancolombia by 355.3% in the third quarter. Marathon Asset Management LLP now owns 3,374,702 shares of the bank’s stock valued at $141,930,000 after purchasing an additional 2,633,458 shares during the last quarter. Genesis Asset Managers LLP lifted its stake in Bancolombia by 68.8% in the second quarter. Genesis Asset Managers LLP now owns 1,752,186 shares of the bank’s stock valued at $83,719,000 after purchasing an additional 714,062 shares during the last quarter. BlackRock Inc. lifted its stake in Bancolombia by 56.8% in the second quarter. BlackRock Inc. now owns 1,273,270 shares of the bank’s stock valued at $60,836,000 after purchasing an additional 461,327 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in Bancolombia in the first quarter valued at approximately $7,858,000. Hedge funds and other institutional investors own 10.79% of the company’s stock.
Bancolombia Company Profile
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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