Bancolombia (NYSE:CIB) Rating Lowered to Hold at Zacks Investment Research

Bancolombia (NYSE:CIBGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

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. “

Several other research analysts also recently commented on CIB. Itau BBA Securities raised shares of Bancolombia from a “market perform” rating to an “outperform” rating and set a $47.00 price objective for the company in a report on Wednesday, March 23rd. Citigroup upgraded shares of Bancolombia from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 3rd. Itaú Unibanco upgraded shares of Bancolombia from a “market perform” rating to an “outperform” rating and set a $47.00 target price on the stock in a research report on Wednesday, March 23rd. Bank of America upgraded shares of Bancolombia from an “underperform” rating to a “buy” rating in a research report on Wednesday, February 23rd. Finally, JPMorgan Chase & Co. lowered shares of Bancolombia from an “overweight” rating to a “neutral” rating and set a $46.00 price objective on the stock. in a research report on Tuesday, April 12th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $43.00.

CIB traded up $0.05 during trading on Tuesday, hitting $37.60. The company’s stock had a trading volume of 201,382 shares, compared to its average volume of 349,037. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.62. Bancolombia has a one year low of $27.64 and a one year high of $44.33. The firm has a market cap of $9.04 billion, a PE ratio of 6.56, a P/E/G ratio of 0.38 and a beta of 1.25. The business’s 50 day simple moving average is $40.24 and its 200-day simple moving average is $36.02.

Bancolombia (NYSE:CIBGet Rating) last released its quarterly earnings data on Wednesday, May 11th. The bank reported $1.92 EPS for the quarter, beating the consensus estimate of $1.17 by $0.75. Bancolombia had a net margin of 22.87% and a return on equity of 14.28%. The business had revenue of $1.35 billion during the quarter. Equities research analysts expect that Bancolombia will post 5.6 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC grew its position in shares of Bancolombia by 47.3% in the third quarter. Cubist Systematic Strategies LLC now owns 55,407 shares of the bank’s stock valued at $1,918,000 after purchasing an additional 17,789 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Bancolombia in the fourth quarter valued at about $29,536,000. Boston Common Asset Management LLC grew its position in shares of Bancolombia by 26.1% in the fourth quarter. Boston Common Asset Management LLC now owns 75,186 shares of the bank’s stock valued at $2,375,000 after purchasing an additional 15,575 shares during the period. Trexquant Investment LP grew its position in shares of Bancolombia by 49.5% in the third quarter. Trexquant Investment LP now owns 11,184 shares of the bank’s stock valued at $387,000 after purchasing an additional 3,704 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in Bancolombia by 9.1% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,963,907 shares of the bank’s stock worth $67,990,000 after acquiring an additional 163,960 shares during the last quarter. 3.72% of the stock is owned by institutional investors.

Bancolombia Company Profile (Get Rating)

Bancolombia SA provides banking products and services in Colombia, Panama, Puerto Rico, El Salvador, Costa Rica, and Guatemala. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.

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