Bancolombia (CIB) Downgraded by Zacks Investment Research to Sell

Bancolombia (NYSE:CIB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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. “

Several other analysts have also commented on CIB. Santander upgraded shares of Bancolombia from an “underperform” rating to a “hold” rating in a research report on Thursday, April 19th. ValuEngine lowered shares of Bancolombia from a “buy” rating to a “hold” rating in a research report on Friday, May 11th. Finally, Bank of America upgraded shares of Bancolombia from an “underperform” rating to a “neutral” rating in a research report on Wednesday, June 13th. Two investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $45.67.



CIB stock opened at $44.02 on Monday. The firm has a market cap of $10.77 billion, a P/E ratio of 12.09, a PEG ratio of 0.84 and a beta of 0.49. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.78. Bancolombia has a one year low of $36.38 and a one year high of $51.38.

Bancolombia (NYSE:CIB) last released its quarterly earnings results on Tuesday, May 15th. The bank reported $0.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.05). The firm had revenue of $1.12 billion for the quarter. Bancolombia had a net margin of 10.59% and a return on equity of 8.67%. research analysts predict that Bancolombia will post 3.73 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Vontobel Asset Management Inc. acquired a new stake in Bancolombia during the second quarter valued at $200,840,000. Polaris Capital Management LLC grew its position in shares of Bancolombia by 9.6% in the first quarter. Polaris Capital Management LLC now owns 2,131,190 shares of the bank’s stock valued at $89,553,000 after purchasing an additional 186,500 shares during the period. Genesis Asset Managers LLP grew its position in shares of 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 period. BlackRock Inc. grew its position in shares of 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 period. Finally, Northern Trust Corp grew its position in shares of Bancolombia by 1.8% in the first quarter. Northern Trust Corp now owns 962,764 shares of the bank’s stock valued at $40,455,000 after purchasing an additional 16,584 shares during the period. Institutional investors own 11.79% 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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