Zacks Investment Research upgraded shares of Bancolombia (NYSE:CIB) from a sell rating to a hold rating in a report published on Tuesday.

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 weighed in on the company. Citigroup raised Bancolombia from a sell rating to a neutral rating in a report on Monday, August 27th. ValuEngine raised Bancolombia from a sell rating to a hold rating in a report on Tuesday, August 28th. Finally, Santander cut Bancolombia from a hold rating to an underperform rating in a report on Monday, November 19th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $46.00.

NYSE CIB opened at $41.29 on Tuesday. The stock has a market capitalization of $9.99 billion, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 0.81 and a beta of 0.65. Bancolombia has a twelve month low of $35.92 and a twelve month high of $51.38. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.77.

Bancolombia (NYSE:CIB) last released its quarterly earnings results on Wednesday, November 7th. The bank reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.05). The business had revenue of $1.08 billion during the quarter. Bancolombia had a return on equity of 8.42% and a net margin of 11.39%. As a group, equities research analysts expect that Bancolombia will post 3.61 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vontobel Asset Management Inc. purchased a new stake in Bancolombia during the 2nd quarter worth approximately $200,840,000. Vanguard Group Inc. increased 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 worth $156,653,000 after buying an additional 13,683 shares in the last quarter. Marathon Asset Management LLP increased its stake in Bancolombia by 355.3% during the 3rd quarter. Marathon Asset Management LLP now owns 3,374,702 shares of the bank’s stock worth $141,930,000 after buying an additional 2,633,458 shares in the last quarter. BlackRock Inc. increased its stake in Bancolombia by 36.5% during the 3rd quarter. BlackRock Inc. now owns 1,737,961 shares of the bank’s stock worth $72,509,000 after buying an additional 464,691 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Bancolombia by 1.6% during the 2nd quarter. Northern Trust Corp now owns 978,082 shares of the bank’s stock worth $46,733,000 after buying an additional 15,318 shares in the last quarter. 7.74% of the stock is owned by 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.

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Analyst Recommendations for Bancolombia (NYSE:CIB)

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