Bancolombia SA (CIB) Receives Average Rating of “Buy” from Brokerages
Bancolombia SA (NYSE:CIB) has received an average recommendation of “Buy” from the six ratings firms that are covering the firm. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $42.67.
Several equities analysts have issued reports on CIB shares. Bank of America Corp cut shares of Bancolombia SA from a “neutral” rating to an “underperform” rating in a research note on Friday, February 24th. HSBC Holdings plc upgraded shares of Bancolombia SA from a “hold” rating to a “buy” rating in a research note on Friday, March 17th. Finally, Zacks Investment Research upgraded shares of Bancolombia SA from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Tuesday, March 7th.
Shares of Bancolombia SA (NYSE:CIB) traded up 3.23% during mid-day trading on Friday, reaching $44.77. 699,380 shares of the company’s stock traded hands. Bancolombia SA has a 12-month low of $31.77 and a 12-month high of $46.26. The firm’s 50 day moving average price is $40.87 and its 200-day moving average price is $38.00. The stock has a market cap of $10.77 billion, a price-to-earnings ratio of 11.05 and a beta of 0.51.
Institutional investors have recently modified their holdings of the company. Two Sigma Investments LP acquired a new position in shares of Bancolombia SA during the fourth quarter valued at $794,000. Soros Fund Management LLC acquired a new position in shares of Bancolombia SA during the fourth quarter valued at $1,486,000. Teachers Advisors LLC acquired a new position in shares of Bancolombia SA during the fourth quarter valued at $13,267,000. FNY Partners Fund LP acquired a new position in shares of Bancolombia SA during the fourth quarter valued at $180,000. Finally, Huntington National Bank boosted its position in shares of Bancolombia SA 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. Hedge funds and other institutional investors own 12.43% of the company’s stock.
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About Bancolombia SA
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.
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