Zacks Investment Research upgraded shares of BanColombia S.A. (NYSE:CIB) from a hold rating to a buy rating in a research report sent to investors on Tuesday. Zacks Investment Research currently has $49.00 price target on the bank’s stock.
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 equities analysts have also recently commented on the company. Standpoint Research cut BanColombia from a buy rating to a hold rating in a report on Monday, May 22nd. BidaskClub cut BanColombia from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Credit Suisse Group set a $45.00 target price on BanColombia and gave the company a hold rating in a report on Wednesday, May 24th. J P Morgan Chase & Co reissued a neutral rating and set a $41.00 target price (down previously from $42.00) on shares of BanColombia in a report on Monday, June 5th. Finally, HSBC Holdings plc cut BanColombia from a buy rating to a hold rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $45.50.
Shares of BanColombia (NYSE:CIB) opened at 44.05 on Tuesday. The company’s 50-day moving average price is $44.02 and its 200 day moving average price is $41.53. The company has a market cap of $10.59 billion, a P/E ratio of 10.71 and a beta of 0.32. BanColombia has a 52 week low of $31.98 and a 52 week high of $47.19.
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Large investors have recently bought and sold shares of the stock. Polaris Capital Management LLC bought a new stake in BanColombia during the second quarter valued at approximately $126,277,000. Orbis Allan Gray Ltd bought a new stake in BanColombia during the second quarter valued at approximately $356,000. Boston Common Asset Management LLC boosted its stake in BanColombia by 4.5% in the second quarter. Boston Common Asset Management LLC now owns 7,840 shares of the bank’s stock valued at $349,000 after buying an additional 335 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in BanColombia by 3.6% in the second quarter. Goldman Sachs Group Inc. now owns 133,211 shares of the bank’s stock valued at $5,934,000 after buying an additional 4,598 shares in the last quarter. Finally, GMT Capital Corp boosted its stake in BanColombia by 12.3% in the second quarter. GMT Capital Corp now owns 1,179,872 shares of the bank’s stock valued at $51,796,000 after buying an additional 129,400 shares in the last quarter. 15.94% of the stock is owned by hedge funds and other institutional investors.
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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