Bancolombia (CIB) Upgraded by ValuEngine to Strong-Buy

Bancolombia (NYSE:CIB) was upgraded by stock analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday.

Other research analysts have also recently issued reports about the stock. UBS Group raised shares of Bancolombia from a “sell” rating to a “hold” rating in a report on Monday. Zacks Investment Research raised shares of Bancolombia from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Citigroup cut shares of Bancolombia from a “neutral” rating to a “sell” rating in a report on Tuesday, January 9th. Finally, Deutsche Bank cut shares of Bancolombia from a “buy” rating to a “hold” rating and dropped their target price for the company from $52.00 to $45.00 in a report on Friday, October 27th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $46.00.

Shares of Bancolombia (NYSE:CIB) traded up $1.32 during trading on Wednesday, reaching $45.02. 281,040 shares of the company’s stock were exchanged, compared to its average volume of 244,195. Bancolombia has a 12 month low of $36.15 and a 12 month high of $48.74. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $10,573.03, a PE ratio of 10.64, a PEG ratio of 2.40 and a beta of 0.46.

Several institutional investors and hedge funds have recently modified their holdings of the company. Harding Loevner LP increased its stake in shares of Bancolombia by 1.2% during the 3rd quarter. Harding Loevner LP now owns 4,113,718 shares of the bank’s stock worth $188,367,000 after purchasing an additional 46,900 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Bancolombia by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 3,150,030 shares of the bank’s stock worth $140,334,000 after purchasing an additional 99,894 shares in the last quarter. Earnest Partners LLC increased its stake in shares of Bancolombia by 3.9% during the 3rd quarter. Earnest Partners LLC now owns 2,956,142 shares of the bank’s stock worth $135,362,000 after purchasing an additional 111,384 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Bancolombia by 419.6% during the 3rd 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 in the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Bancolombia by 2.3% during the 4th quarter. Lazard Asset Management LLC now owns 1,643,311 shares of the bank’s stock worth $65,173,000 after purchasing an additional 37,283 shares in the last quarter. 13.18% of the stock is owned by institutional investors and hedge funds.

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About Bancolombia

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Bancolombia (NYSE:CIB)

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