BanColombia S.A. (CIB) Stock Rating Lowered by Zacks Investment Research
BanColombia S.A. (NYSE:CIB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “
Other equities analysts also recently issued reports about the stock. Santander downgraded shares of BanColombia from a “hold” rating to an “underperform” rating in a report on Wednesday, September 20th. J P Morgan Chase & Co downgraded shares of BanColombia from a “neutral” rating to an “underweight” rating and set a $41.00 price objective on the stock. in a report on Wednesday, October 4th. BidaskClub downgraded shares of BanColombia from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. downgraded shares of BanColombia from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. Finally, Deutsche Bank AG downgraded shares of BanColombia from a “buy” rating to a “hold” rating and decreased their price objective for the company from $52.00 to $45.00 in a report on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $46.00.
Shares of BanColombia (NYSE:CIB) opened at $39.50 on Tuesday. BanColombia has a twelve month low of $32.02 and a twelve month high of $48.74. The stock has a market cap of $9,341.75, a price-to-earnings ratio of 9.76, a P/E/G ratio of 2.29 and a beta of 0.33. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83.
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A number of institutional investors and hedge funds have recently bought and sold shares of the business. Harding Loevner LP lifted its stake in shares of BanColombia by 1.2% in the third quarter. Harding Loevner LP now owns 4,113,718 shares of the bank’s stock worth $188,367,000 after buying an additional 46,900 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of BanColombia by 3.3% in the second quarter. Vanguard Group Inc. now owns 3,150,030 shares of the bank’s stock worth $140,334,000 after buying an additional 99,894 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of BanColombia by 3.9% in the third quarter. Earnest Partners LLC now owns 2,956,142 shares of the bank’s stock worth $135,362,000 after buying an additional 111,384 shares in the last quarter. Polaris Capital Management LLC purchased a new position in shares of BanColombia in the second quarter worth about $126,277,000. Finally, Lazard Asset Management LLC lifted its stake in shares of BanColombia by 1.9% in the second quarter. Lazard Asset Management LLC now owns 2,058,306 shares of the bank’s stock worth $91,697,000 after buying an additional 37,634 shares in the last quarter. 14.13% of the stock is currently owned by institutional investors and hedge funds.
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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