Credit Suisse Group AG downgraded shares of Bancolombia SA (NYSE:CIB) from an outperform rating to a neutral rating in a research note published on Thursday. Credit Suisse Group AG currently has $40.00 price objective on the stock, up from their previous price objective of $38.00.
Several other brokerages also recently commented on CIB. 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 upgraded 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. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $40.38.
Shares of Bancolombia SA (NYSE:CIB) traded down 0.05% during mid-day trading on Thursday, reaching $38.03. The company had a trading volume of 136,323 shares. The stock has a 50 day moving average of $39.08 and a 200-day moving average of $36.15. Bancolombia SA has a one year low of $23.69 and a one year high of $42.58. The firm has a market capitalization of $9.14 billion, a price-to-earnings ratio of 11.55 and a beta of 0.69.
A number of hedge funds have recently made changes to their positions in the stock. Harding Loevner LP raised its stake in shares of Bancolombia SA by 30.1% in the second quarter. Harding Loevner LP now owns 3,634,184 shares of the company’s stock valued at $126,906,000 after buying an additional 841,700 shares during the period. Vanguard Group Inc. raised its position in Bancolombia SA by 2.2% in the second quarter. Vanguard Group Inc. now owns 2,608,665 shares of the company’s stock worth $91,095,000 after buying an additional 56,497 shares during the last quarter. INCA Investments LLC raised its position in Bancolombia SA by 32.4% in the second quarter. INCA Investments LLC now owns 1,077,500 shares of the company’s stock worth $37,626,000 after buying an additional 263,400 shares during the last quarter. Axiom International Investors LLC DE purchased a new position in Bancolombia SA during the second quarter worth $30,031,000. Finally, Emerald Acquisition Ltd. purchased a new position in Bancolombia SA during the second quarter worth $25,316,000. Institutional investors own 12.37% of the company’s stock.
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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