Bancolombia SA (CIB) Downgraded by Standpoint Research
Bancolombia SA (NYSE:CIB) was downgraded by analysts at Standpoint Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
A number of other research firms have also weighed in on CIB. Bank of America Corp lowered shares of Bancolombia SA from a “neutral” rating to an “underperform” rating in a report on Friday, February 24th. HSBC Holdings plc raised shares of Bancolombia SA from a “hold” rating to a “buy” rating in a report on Friday, March 17th. Finally, Zacks Investment Research raised shares of Bancolombia SA from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Tuesday, March 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $42.67.
Shares of Bancolombia SA (NYSE:CIB) traded down 0.74% during midday trading on Monday, hitting $44.44. 395,292 shares of the stock were exchanged. Bancolombia SA has a 52-week low of $31.77 and a 52-week high of $46.26. The firm has a market cap of $10.69 billion, a PE ratio of 10.97 and a beta of 0.51. The firm’s 50-day moving average is $40.87 and its 200 day moving average is $38.00.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC purchased a new position in Bancolombia SA during the fourth quarter valued at approximately $123,000. Huntington National Bank raised its position in 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 last quarter. Advisors Preferred LLC purchased a new position in Bancolombia SA during the first quarter valued at approximately $140,000. Federated Investors Inc. PA purchased a new position in Bancolombia SA during the fourth quarter valued at approximately $150,000. Finally, FNY Partners Fund LP purchased a new position in Bancolombia SA during the fourth quarter valued at approximately $180,000. 12.43% of the stock is owned by institutional investors.
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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