Bancolombia (CIB) Upgraded by UBS Group to “Hold”

Bancolombia (NYSE:CIB) was upgraded by stock analysts at UBS Group from a “sell” rating to a “hold” rating in a report released on Monday, The Fly reports.

Other analysts have also issued research reports about the company. Zacks Investment Research upgraded Bancolombia from a “sell” rating to a “hold” rating in a research note on Friday. Citigroup downgraded Bancolombia from a “neutral” rating to a “sell” rating in a research report on Tuesday, January 9th. Finally, Deutsche Bank downgraded Bancolombia from a “buy” rating to a “hold” rating and dropped their price target for the stock from $52.00 to $45.00 in a research report on Friday, October 27th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The company presently has an average rating of “Hold” and an average target price of $46.00.

Bancolombia (NYSE:CIB) traded up $1.03 during mid-day trading on Monday, reaching $43.70. The company’s stock had a trading volume of 193,017 shares, compared to its average volume of 238,185. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.11. Bancolombia has a twelve month low of $36.15 and a twelve month high of $48.74. The stock has a market capitalization of $10,260.43, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 2.33 and a beta of 0.46.

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Bancolombia by 419.6% in the third quarter. JPMorgan Chase & Co. now owns 1,874,923 shares of the bank’s stock worth $85,647,000 after purchasing an additional 1,514,103 shares during the last quarter. Barings LLC purchased a new position in Bancolombia during the fourth quarter valued at approximately $5,108,000. Earnest Partners LLC raised its position in Bancolombia by 3.9% during the third quarter. Earnest Partners LLC now owns 2,956,142 shares of the bank’s stock valued at $135,362,000 after acquiring an additional 111,384 shares in the last quarter. APG Asset Management N.V. raised its position in Bancolombia by 32.6% during the third quarter. APG Asset Management N.V. now owns 433,100 shares of the bank’s stock valued at $19,832,000 after acquiring an additional 106,427 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Bancolombia by 3.3% in the second quarter. Vanguard Group Inc. now owns 3,150,030 shares of the bank’s stock valued at $140,334,000 after buying an additional 99,894 shares in the last quarter. 13.18% of the stock is currently owned by institutional investors and hedge funds.

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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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