Bancolombia (CIB) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Bancolombia (NYSE:CIB) from a buy rating to a hold rating in a research report sent to investors on Monday morning, Zacks.com reports.

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. “

Other analysts also recently issued reports about the company. Bank of America raised Bancolombia from a neutral rating to a buy rating in a report on Tuesday, January 22nd. ValuEngine raised Bancolombia from a hold rating to a buy rating in a research note on Thursday, March 21st. Citigroup raised Bancolombia from a neutral rating to a buy rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. raised Bancolombia from an underweight rating to a neutral rating in a research note on Monday, February 25th. Finally, Credit Suisse Group downgraded Bancolombia from a neutral rating to an underperform rating in a research note on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $54.00.

Bancolombia stock opened at $47.68 on Monday. Bancolombia has a fifty-two week low of $35.52 and a fifty-two week high of $55.40. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $11.47 billion, a PE ratio of 13.04, a PEG ratio of 0.83 and a beta of 0.66.

Bancolombia (NYSE:CIB) last posted its earnings results on Thursday, February 21st. The bank reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.36. Bancolombia had a return on equity of 11.77% and a net margin of 14.40%. The business had revenue of $1.28 billion during the quarter. On average, equities research analysts expect that Bancolombia will post 4.43 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Candriam Luxembourg S.C.A. purchased a new stake in Bancolombia during the 4th quarter valued at approximately $241,000. Sumitomo Mitsui Asset Management Company LTD raised its stake in Bancolombia by 16.5% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 79,672 shares of the bank’s stock valued at $3,035,000 after acquiring an additional 11,296 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Bancolombia during the 4th quarter valued at approximately $3,179,000. Vanguard Group Inc. raised its stake in Bancolombia by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,754,870 shares of the bank’s stock valued at $156,653,000 after acquiring an additional 13,683 shares during the last quarter. Finally, Investec Asset Management North America Inc. purchased a new stake in Bancolombia during the 1st quarter valued at approximately $5,831,000. 6.80% of the stock is owned by hedge funds and other institutional investors.

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.

See Also: 52-Week High/Low

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