BanColombia S.A. (NYSE:CIB) was downgraded by equities research analysts at Santander from a “hold” rating to an “underperform” rating in a research report issued to clients and investors on Wednesday, The Fly reports.

Several other research firms have also weighed in on CIB. Credit Suisse Group set a $45.00 price objective on BanColombia and gave the company a “hold” rating in a research note on Wednesday, May 24th. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $41.00 price objective (down from $42.00) on shares of BanColombia in a research note on Monday, June 5th. Zacks Investment Research lowered BanColombia from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. BidaskClub lowered BanColombia from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 23rd. Finally, HSBC Holdings plc lowered BanColombia from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $46.33.

BanColombia (NYSE:CIB) traded down 1.028% on Wednesday, hitting $46.715. The company had a trading volume of 141,561 shares. BanColombia has a 12-month low of $31.98 and a 12-month high of $48.74. The firm has a 50-day moving average price of $45.23 and a 200-day moving average price of $42.85. The firm has a market capitalization of $11.23 billion, a PE ratio of 11.028 and a beta of 0.33.

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Large investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. boosted its stake in BanColombia by 1.6% in the second quarter. Advisor Group Inc. now owns 3,227 shares of the bank’s stock valued at $144,000 after buying an additional 52 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in BanColombia by 5.8% in the first quarter. Nomura Asset Management Co. Ltd. now owns 5,021 shares of the bank’s stock valued at $200,000 after buying an additional 275 shares in the last quarter. Pinebridge Investments L.P. acquired a new stake in BanColombia in the second quarter valued at about $223,000. Tower Research Capital LLC TRC boosted its stake in 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 in the last quarter. Finally, High Pointe Capital Management LLC acquired a new stake in BanColombia in the second quarter valued at about $228,000. 14.96% of the stock is currently owned by institutional investors and hedge funds.

BanColombia Company Profile

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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Analyst Recommendations for BanColombia (NYSE:CIB)

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