Bancolombia (CIB) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Bancolombia (NYSE:CIB) from a sell rating to a hold rating in a research note released on Friday morning.

According to Zacks, “BanColombia is Colombia’s largest bank in terms of assets and also has the largest market participation in deposit products and loans. “

A number of other brokerages also recently commented on CIB. Citigroup downgraded shares of Bancolombia from a neutral rating to a sell rating in a research note on Tuesday, January 9th. Deutsche Bank downgraded shares of Bancolombia from a buy rating to a hold rating and reduced their target price for the stock from $52.00 to $45.00 in a research note on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Bancolombia currently has an average rating of Hold and an average price target of $46.00.

Bancolombia (NYSE:CIB) traded down $0.46 during trading hours on Friday, hitting $42.67. 267,625 shares of the stock traded hands, compared to its average volume of 237,654. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $10,371.04, a P/E ratio of 10.09, a P/E/G ratio of 2.36 and a beta of 0.46. Bancolombia has a 12-month low of $36.15 and a 12-month high of $48.74.

Several institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC raised its stake in shares of Bancolombia by 40.6% in the 4th quarter. Virtu Financial LLC now owns 7,237 shares of the bank’s stock valued at $287,000 after acquiring an additional 2,089 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Bancolombia by 33.1% in the 4th quarter. UBS Asset Management Americas Inc. now owns 150,421 shares of the bank’s stock valued at $5,966,000 after acquiring an additional 37,400 shares during the period. Pinebridge Investments L.P. raised its stake in shares of Bancolombia by 431.9% in the 4th quarter. Pinebridge Investments L.P. now owns 26,593 shares of the bank’s stock valued at $1,055,000 after acquiring an additional 21,593 shares during the period. Barings LLC purchased a new stake in shares of Bancolombia in the 4th quarter valued at approximately $5,108,000. Finally, US Bancorp DE grew its holdings in shares of Bancolombia by 55.3% in the fourth quarter. US Bancorp DE now owns 3,835 shares of the bank’s stock valued at $152,000 after purchasing an additional 1,366 shares in the last quarter. 13.27% 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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