Bancolombia SA (NYSE:CIB) has received an average recommendation of “Hold” from the eight research firms that are covering the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $40.13.
CIB has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Bancolombia SA from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Deutsche Bank AG raised shares of Bancolombia SA from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Monday, August 22nd. Finally, Credit Suisse Group AG downgraded shares of Bancolombia SA from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $38.00 to $40.00 in a research report on Thursday, October 6th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Axiom International Investors LLC DE bought a new position in Bancolombia SA during the second quarter worth $30,031,000. Harding Loevner LP increased its position in Bancolombia SA by 30.1% in the second quarter. Harding Loevner LP now owns 3,634,184 shares of the company’s stock worth $126,906,000 after buying an additional 841,700 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in Bancolombia SA during the second quarter worth $25,316,000. Principal Financial Group Inc. bought a new position in Bancolombia SA during the second quarter worth $19,335,000. Finally, JPMorgan Chase & Co. increased its position in Bancolombia SA by 125.5% in the first quarter. JPMorgan Chase & Co. now owns 632,400 shares of the company’s stock worth $21,615,000 after buying an additional 351,999 shares in the last quarter. 12.34% of the stock is owned by hedge funds and other institutional investors.
Shares of Bancolombia SA (NYSE:CIB) traded up 2.13% on Tuesday, reaching $38.75. 145,850 shares of the company were exchanged. Bancolombia SA has a 12-month low of $23.69 and a 12-month high of $42.58. The firm has a 50 day moving average price of $39.00 and a 200-day moving average price of $36.43. The stock has a market capitalization of $9.32 billion, a PE ratio of 12.12 and a beta of 0.69.
About Bancolombia SA
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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