Bancolombia’s (NYSE:CIB) rating downgraded to stay at Zacks Investment Research


Bancolombia (NYSE:CIB – Get a Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “BanColombia is the largest bank in Colombia in terms of assets and also has the largest participation in the market for deposit and loan products. “

Several other research analysts have also recently commented on the CIB. Itau BBA Securities upgraded Bancolombia shares from a “market performance” rating to an “outperform” rating and set a price target of $47.00 for the company in a Wednesday, March 23 report. Citigroup upgraded Bancolombia shares from a “neutral” rating to a “buy” rating in a Tuesday, May 3 research report. Itaú Unibanco upgraded Bancolombia’s shares from a “market performer” rating to an “outperformer” rating and set a target price of $47.00 on the stock in a Wednesday, March 23 research report. Bank of America upgraded Bancolombia shares from an “underperforming” rating to a “buy” rating in a Wednesday, Feb. 23 research report. Finally, JPMorgan Chase & Co. downgraded Bancolombia’s shares from an “overweight” rating to a “neutral” rating and set a price target of $46.00 for the stock. in a research report on Tuesday, April 12. Four investment analysts gave the stock a hold rating and five gave the stock a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $43.00.

CIB was up $0.05 during Tuesday’s trading, hitting $37.60. The company’s shares had a trading volume of 201,382 shares, compared to an average volume of 349,037. The company has a quick ratio of 1.04, a current ratio of 1.04 and a leverage ratio of 0, 62. Bancolombia has a one-year low of $27.64 and a one-year high of $44.33. The company has a market capitalization of $9.04 billion, a PE ratio of 6.56, a P/E/G ratio of 0.38 and a beta of 1.25. The company’s 50-day simple moving average is $40.24 and its 200-day simple moving average is $36.02.

Bancolombia (NYSE:CIB – Get Rating) last released quarterly earnings data on Wednesday, May 11. The bank reported EPS of $1.92 for the quarter, beating the consensus estimate of $1.17 by $0.75. Bancolombia achieved a net margin of 22.87% and a return on equity of 14.28%. The company had revenue of $1.35 billion in the quarter. Equity research analysts expect Bancolombia to post EPS of 5.6 for the current fiscal year.

A number of institutional investors and hedge funds have recently increased or reduced their stakes in the company. Cubist Systematic Strategies LLC increased its position in Bancolombia shares by 47.3% in the third quarter. Cubist Systematic Strategies LLC now owns 55,407 shares of the bank valued at $1,918,000 after purchasing an additional 17,789 shares during the period. Allspring Global Investments Holdings LLC acquired a new equity stake in Bancolombia in the fourth quarter valued at approximately $29,536,000. Boston Common Asset Management LLC increased its position in Bancolombia shares by 26.1% in the fourth quarter. Boston Common Asset Management LLC now owns 75,186 shares of the bank valued at $2,375,000 after purchasing an additional 15,575 shares during the period. Trexquant Investment LP increased its position in Bancolombia shares by 49.5% in the third quarter. Trexquant Investment LP now owns 11,184 shares of the bank valued at $387,000 after purchasing an additional 3,704 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in Bancolombia by 9.1% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,963,907 shares of the bank worth $67,990,000 after acquiring an additional 163,960 shares in the last quarter. 3.72% of the stock is held by institutional investors.

Bancolombia Company Profile (Get an assessment)

Bancolombia SA provides banking products and services in Colombia, Panama, Puerto Rico, El Salvador, Costa Rica and Guatemala. The Company operates through nine segments: Bank Colombia, Bank Panama, Bank El Salvador, Bank Guatemala, Trust, Investment Bank, Brokerage, International Bank and All Others.

Further reading

Get a Free Copy of Zacks Research Report on Bancolombia (CIB)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

Analyst recommendations for Bancolombia (NYSE: CIB)



Get news and reviews for Bancolombia Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Bancolombia and related companies with MarketBeat.com’s free daily email newsletter.

About Matthew Berkey

Check Also

BanColombia SA – Consensus indicates downside potential of -15.9%

BanColombia SA with ticker code (CIB) now have 10 analysts covering the stock. Analyst consensus …