Bancolombia (NYSE:CIB) Stock Rating Lowered by ValuEngine

Bancolombia (NYSE:CIB) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

CIB has been the subject of several other research reports. JPMorgan Chase & Co. raised shares of Bancolombia from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $48.00 to $55.00 in a report on Tuesday, August 6th. Credit Suisse Group upgraded shares of Bancolombia from an “underperform” rating to a “neutral” rating and set a $53.00 price target on the stock in a research report on Tuesday, August 6th. Finally, Zacks Investment Research lowered shares of Bancolombia from a “buy” rating to a “hold” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Bancolombia presently has a consensus rating of “Hold” and a consensus price target of $55.00.

Shares of Bancolombia stock traded up $0.30 during trading on Tuesday, hitting $51.31. 3,399 shares of the company’s stock were exchanged, compared to its average volume of 307,232. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.09 and a current ratio of 1.09. The business has a 50-day simple moving average of $49.92 and a 200-day simple moving average of $50.11. Bancolombia has a 52-week low of $35.52 and a 52-week high of $55.40. The stock has a market capitalization of $11.84 billion, a price-to-earnings ratio of 14.73 and a beta of 0.76.

Bancolombia (NYSE:CIB) last issued its earnings results on Monday, August 5th. The bank reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.16. Bancolombia had a net margin of 16.24% and a return on equity of 13.40%. The firm had revenue of $1.16 billion during the quarter. On average, equities analysts anticipate that Bancolombia will post 4.05 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Bancolombia by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,841,561 shares of the bank’s stock worth $196,073,000 after buying an additional 26,028 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Bancolombia by 5.6% in the 1st quarter. Lazard Asset Management LLC now owns 2,971,359 shares of the bank’s stock valued at $151,717,000 after purchasing an additional 157,305 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Bancolombia by 103.9% in the 2nd quarter. BlackRock Inc. now owns 2,065,949 shares of the bank’s stock valued at $105,446,000 after purchasing an additional 1,052,496 shares in the last quarter. Polaris Capital Management LLC increased its holdings in shares of Bancolombia by 0.9% in the 2nd quarter. Polaris Capital Management LLC now owns 1,970,290 shares of the bank’s stock valued at $100,564,000 after purchasing an additional 16,700 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Bancolombia by 29.9% in the 1st quarter. Wells Fargo & Company MN now owns 1,513,332 shares of the bank’s stock valued at $77,271,000 after purchasing an additional 348,265 shares in the last quarter. Institutional investors own 7.59% of the company’s stock.

About Bancolombia

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.

Further Reading: Are sell-side analysts objective?

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Analyst Recommendations for Bancolombia (NYSE:CIB)

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