Bancolombia SA (CIB) Upgraded to Buy at HSBC Holdings plc

HSBC Holdings plc upgraded shares of Bancolombia SA (NYSE:CIB) from a hold rating to a buy rating in a research report report published on Friday morning.

Several other analysts have also issued reports on the company. Bank of America Corp lowered Bancolombia SA from a neutral rating to an underperform rating in a report on Friday, February 24th. Zacks Investment Research upgraded Bancolombia SA from a hold rating to a buy rating and set a $41.00 price objective for the company in a report on Tuesday, March 7th. Credit Suisse Group AG reiterated a hold rating and set a $40.00 price objective on shares of Bancolombia SA in a report on Tuesday, November 22nd. Finally, Morgan Stanley upgraded Bancolombia SA from an equal weight rating to an overweight rating in a report on Tuesday, December 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Bancolombia SA presently has an average rating of Hold and a consensus price target of $39.63.

Shares of Bancolombia SA (NYSE:CIB) traded up 1.42% during midday trading on Friday, hitting $38.47. The stock had a trading volume of 79,836 shares. The firm has a 50-day moving average price of $37.68 and a 200-day moving average price of $37.48. Bancolombia SA has a 1-year low of $31.06 and a 1-year high of $42.58. The firm has a market cap of $9.25 billion, a price-to-earnings ratio of 9.78 and a beta of 0.51.

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A number of institutional investors have recently bought and sold shares of the stock. Guggenheim Capital LLC raised its position in Bancolombia SA by 0.6% in the fourth quarter. Guggenheim Capital LLC now owns 68,329 shares of the company’s stock valued at $2,506,000 after buying an additional 385 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Bancolombia SA by 0.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,100 shares of the company’s stock valued at $2,737,000 after buying an additional 500 shares during the period. World Asset Management Inc raised its position in Bancolombia SA by 8.0% in the third quarter. World Asset Management Inc now owns 7,573 shares of the company’s stock valued at $296,000 after buying an additional 559 shares during the period. M&T Bank Corp raised its position in Bancolombia SA by 1.6% in the third quarter. M&T Bank Corp now owns 37,358 shares of the company’s stock valued at $1,459,000 after buying an additional 572 shares during the period. Finally, Comerica Bank raised its position in Bancolombia SA by 12.6% in the fourth quarter. Comerica Bank now owns 6,395 shares of the company’s stock valued at $243,000 after buying an additional 714 shares during the period. Institutional investors own 12.43% of the company’s stock.

Bancolombia SA 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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