Bancolombia SA (NYSE:CIB) has earned a consensus recommendation of “Hold” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $41.00.
A number of research firms have recently weighed in on CIB. Zacks Investment Research lowered Bancolombia from a “hold” rating to a “sell” rating in a research note on Monday. Santander lowered Bancolombia from a “hold” rating to an “underperform” rating in a research note on Monday. ValuEngine raised Bancolombia from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. Finally, Citigroup raised Bancolombia from a “sell” rating to a “neutral” rating in a research note on Monday, August 27th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global X Management Co LLC boosted its stake in shares of Bancolombia by 4.3% in the second quarter. Global X Management Co LLC now owns 328,556 shares of the bank’s stock worth $15,698,000 after acquiring an additional 13,465 shares during the period. FNY Investment Advisers LLC bought a new position in Bancolombia during the third quarter valued at approximately $125,000. Bank of New York Mellon Corp boosted its stake in Bancolombia by 617.5% during the second quarter. Bank of New York Mellon Corp now owns 116,283 shares of the bank’s stock valued at $5,556,000 after buying an additional 100,077 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Bancolombia by 2.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 121,803 shares of the bank’s stock valued at $5,820,000 after buying an additional 2,688 shares during the last quarter. Finally, Vontobel Asset Management Inc. bought a new position in Bancolombia during the second quarter valued at approximately $200,840,000. 8.57% 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: What is a Candlestick Chart?
Receive News & Ratings for Bancolombia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bancolombia and related companies with MarketBeat.com's FREE daily email newsletter.