Zacks Investment Research lowered shares of BanColombia S.A. (NYSE:CIB) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.
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. “
CIB has been the topic of a number of other reports. BidaskClub raised shares of BanColombia from a buy rating to a strong-buy rating in a research note on Saturday, July 1st. Standpoint Research downgraded shares of BanColombia from a buy rating to a hold rating in a research note on Monday, May 22nd. Credit Suisse Group set a $45.00 price target on shares of BanColombia and gave the company a hold rating in a research note on Wednesday, May 24th. HSBC Holdings plc downgraded shares of BanColombia from a buy rating to a hold rating in a research note on Tuesday, August 15th. Finally, J P Morgan Chase & Co reissued a neutral rating and issued a $41.00 price target (down from $42.00) on shares of BanColombia in a research note on Monday, June 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $45.67.
BanColombia (NYSE CIB) opened at 47.96 on Tuesday. The company has a market capitalization of $11.53 billion, a P/E ratio of 11.66 and a beta of 0.33. BanColombia has a 52 week low of $31.98 and a 52 week high of $48.74. The firm has a 50-day moving average of $44.58 and a 200-day moving average of $42.41.
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Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisor Group Inc. increased its stake in BanColombia by 1.6% during the 2nd quarter. Advisor Group Inc. now owns 3,227 shares of the bank’s stock worth $144,000 after buying an additional 52 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in BanColombia by 5.8% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 5,021 shares of the bank’s stock worth $200,000 after buying an additional 275 shares during the period. Teza Capital Management LLC purchased a new stake in BanColombia during the 1st quarter worth approximately $204,000. Pinebridge Investments L.P. purchased a new stake in BanColombia during the 2nd quarter worth approximately $223,000. Finally, Tower Research Capital LLC TRC increased its stake in BanColombia by 1,627.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 5,700 shares of the bank’s stock worth $227,000 after buying an additional 5,370 shares during the period. 14.96% of the stock is currently 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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