Bancolombia (CIB) Rating Increased to Buy at Zacks Investment Research

Bancolombia (NYSE:CIB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage presently has a $48.00 target price on the bank’s stock. Zacks Investment Research‘s target price indicates a potential upside of 15.83% from the stock’s current price.

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. “

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Several other research analysts have also recently commented on CIB. JPMorgan Chase & Co. set a $41.00 target price on Bancolombia and gave the stock a “hold” rating in a research report on Friday, March 16th. Standpoint Research raised Bancolombia from a “hold” rating to an “accumulate” rating in a research report on Wednesday, March 7th. ValuEngine cut Bancolombia from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 13th. UBS raised Bancolombia from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Finally, Citigroup lowered Bancolombia from a “neutral” rating to a “sell” rating in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $44.75.

Bancolombia stock opened at $41.44 on Thursday. The company has a market capitalization of $10,294.09, a price-to-earnings ratio of 11.29, a P/E/G ratio of 1.07 and a beta of 0.53. Bancolombia has a 12-month low of $36.38 and a 12-month high of $48.74. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.12 and a quick ratio of 1.11.

Institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE increased its stake in shares of Bancolombia by 55.3% in the fourth quarter. US Bancorp DE now owns 3,835 shares of the bank’s stock valued at $152,000 after buying an additional 1,366 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of Bancolombia in the third quarter valued at $230,000. Citadel Advisors LLC acquired a new stake in shares of Bancolombia in the third quarter valued at $270,000. Advisor Group Inc. increased its stake in shares of Bancolombia by 94.3% in the third quarter. Advisor Group Inc. now owns 6,271 shares of the bank’s stock valued at $287,000 after buying an additional 3,044 shares in the last quarter. Finally, Virtu Financial LLC increased its stake in shares of Bancolombia by 40.6% in the fourth quarter. Virtu Financial LLC now owns 7,237 shares of the bank’s stock valued at $287,000 after buying an additional 2,089 shares in the last quarter. Hedge funds and other institutional investors own 12.53% of the company’s stock.

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About Bancolombia

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.

Analyst Recommendations for Bancolombia (NYSE:CIB)

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