BidaskClub Downgrades BanColombia S.A. (CIB) to Buy
BanColombia S.A. (NYSE:CIB) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.
Other equities research analysts have also recently issued reports about the company. HSBC Holdings plc raised BanColombia from a “hold” rating to a “buy” rating in a report on Friday, March 17th. Zacks Investment Research raised BanColombia from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, March 7th. Credit Suisse Group set a $45.00 price objective on BanColombia and gave the stock a “hold” rating in a research note on Wednesday, May 24th. Standpoint Research cut BanColombia from a “buy” rating to a “hold” rating in a research note on Monday, May 22nd. Finally, J P Morgan Chase & Co reissued a “neutral” rating and set a $41.00 price objective (down from $42.00) on shares of BanColombia in a research note on Monday, June 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $43.50.
Shares of BanColombia (CIB) traded up 0.43% during trading on Friday, hitting $42.53. The stock had a trading volume of 332,807 shares. BanColombia has a 12 month low of $31.98 and a 12 month high of $47.20. The stock has a 50 day moving average of $43.81 and a 200 day moving average of $39.55. The company has a market cap of $10.23 billion, a PE ratio of 9.77 and a beta of 0.35.
The business also recently disclosed a special dividend, which will be paid on Friday, July 14th. Shareholders of record on Wednesday, July 5th will be paid a dividend of $0.3116 per share. The ex-dividend date is Friday, June 30th. This represents a yield of 3.1%. BanColombia’s payout ratio is currently 28.36%.
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Large investors have recently modified their holdings of the company. Huntington National Bank boosted its stake in shares of BanColombia 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 bought a new stake in shares of BanColombia during the first quarter valued at $140,000. Federated Investors Inc. PA bought a new stake in shares of BanColombia during the fourth quarter valued at $150,000. Teza Capital Management LLC bought a new stake in shares of BanColombia during the first quarter valued at $204,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of BanColombia by 1,627.3% in the first quarter. Tower Research Capital LLC TRC now owns 5,700 shares of the bank’s stock valued at $227,000 after buying an additional 5,370 shares during the last quarter. 16.06% of the stock is currently owned by institutional investors.
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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