Bancolombia (NYSE:CIB) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of Bancolombia (NYSE:CIB) from a sell rating to a hold rating in a research report report published on Tuesday morning, ValuEngine reports.

Several other research analysts have also weighed in on CIB. TheStreet raised Bancolombia from a c+ rating to a b rating in a research report on Wednesday, December 11th. BTIG Research lowered Bancolombia from a buy rating to a neutral rating in a report on Friday, February 21st. JPMorgan Chase & Co. lowered their price objective on Bancolombia from $56.00 to $55.00 and set an overweight rating on the stock in a report on Monday, February 24th. Finally, Zacks Investment Research lowered Bancolombia from a buy rating to a hold rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $56.33.

Shares of CIB stock opened at $47.48 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.11 and a quick ratio of 1.10. Bancolombia has a fifty-two week low of $44.66 and a fifty-two week high of $56.10. The stock’s 50-day moving average is $53.49 and its two-hundred day moving average is $51.91. The firm has a market cap of $11.77 billion, a P/E ratio of 10.25, a PEG ratio of 0.68 and a beta of 0.75.

Several hedge funds and other institutional investors have recently modified their holdings of CIB. Genesis Investment Management LLP acquired a new position in shares of Bancolombia during the 3rd quarter valued at about $105,406,000. USS Investment Management Ltd acquired a new position in shares of Bancolombia during the 3rd quarter valued at about $24,037,000. Marshall Wace North America L.P. increased its holdings in shares of Bancolombia by 3,205.7% during the 4th quarter. Marshall Wace North America L.P. now owns 247,103 shares of the bank’s stock valued at $13,538,000 after acquiring an additional 239,628 shares during the last quarter. Investec Asset Management LTD boosted its stake in Bancolombia by 21.2% during the 4th quarter. Investec Asset Management LTD now owns 1,261,528 shares of the bank’s stock valued at $69,119,000 after purchasing an additional 220,593 shares during the period. Finally, State Street Corp boosted its stake in Bancolombia by 24.4% during the 4th quarter. State Street Corp now owns 1,017,247 shares of the bank’s stock valued at $56,046,000 after purchasing an additional 199,803 shares during the period. 7.44% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Bancolombia (NYSE:CIB)

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