Bancolombia (CIB) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Bancolombia (NYSE:CIB) from a sell rating to a hold rating in a report released on Tuesday.

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. “

Several other research analysts also recently commented on CIB. ValuEngine downgraded shares of Bancolombia from a hold rating to a sell rating in a report on Monday, August 20th. Citigroup raised shares of Bancolombia from a sell rating to a neutral rating in a report on Monday, August 27th. Finally, Santander downgraded shares of Bancolombia from a hold rating to an underperform rating in a report on Monday, November 19th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The company presently has an average rating of Hold and an average price target of $46.00.

CIB opened at $40.87 on Tuesday. The company has a market capitalization of $9.93 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 0.80 and a beta of 0.65. Bancolombia has a 12 month low of $35.92 and a 12 month high of $51.38. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.77.

Bancolombia (NYSE:CIB) last released its quarterly earnings data on Wednesday, November 7th. The bank reported $0.76 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.05). The business had revenue of $1.08 billion during the quarter. Bancolombia had a return on equity of 8.42% and a net margin of 11.39%. On average, equities analysts expect that Bancolombia will post 3.61 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Bancolombia by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,754,870 shares of the bank’s stock worth $156,653,000 after purchasing an additional 13,683 shares in the last quarter. Nordea Investment Management AB purchased a new stake in Bancolombia in the 3rd quarter worth approximately $2,341,000. Axiom International Investors LLC DE lifted its stake in Bancolombia by 29.6% in the 3rd quarter. Axiom International Investors LLC DE now owns 120,808 shares of the bank’s stock worth $5,040,000 after purchasing an additional 27,563 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Bancolombia by 4,005.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,517 shares of the bank’s stock worth $13,496,000 after purchasing an additional 315,637 shares in the last quarter. Finally, United Services Automobile Association lifted its stake in Bancolombia by 5.0% in the 3rd quarter. United Services Automobile Association now owns 284,776 shares of the bank’s stock worth $11,881,000 after purchasing an additional 13,500 shares in the last quarter. Institutional investors and hedge funds own 7.74% of the company’s stock.

Bancolombia Company Profile

Bancolombia SA provides various banking products and services to individual, corporate, and government customers in Colombia, Latin America, and the Caribbean region. The company operates in nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, Off Shore, and All Other.

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