Bancolombia (CIB) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Bancolombia (NYSE:CIB) from a sell rating to a hold rating in a research report released on Thursday.
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 research analysts have also weighed in on the company. ValuEngine raised Bancolombia from a buy rating to a strong-buy rating in a research report on Wednesday. UBS Group raised Bancolombia from a sell rating to a hold rating in a report on Monday, February 12th. Citigroup lowered Bancolombia from a neutral rating to a sell rating in a report on Tuesday, January 9th. Finally, Deutsche Bank lowered Bancolombia from a buy rating to a hold rating and reduced their target price for the stock from $52.00 to $45.00 in a report on Friday, October 27th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a strong buy rating to the stock. Bancolombia has a consensus rating of Hold and a consensus target price of $46.00.
Several institutional investors have recently bought and sold shares of the business. Advisor Group Inc. increased its holdings in shares of Bancolombia by 1.6% in the 2nd quarter. Advisor Group Inc. now owns 3,227 shares of the bank’s stock worth $144,000 after purchasing an additional 52 shares in the last quarter. US Bancorp DE increased its holdings in shares of Bancolombia by 55.3% in the 4th quarter. US Bancorp DE now owns 3,835 shares of the bank’s stock worth $152,000 after purchasing an additional 1,366 shares in the last quarter. AXA boosted its stake in shares of Bancolombia by 21.6% in the 4th quarter. AXA now owns 9,000 shares of the bank’s stock worth $357,000 after buying an additional 1,600 shares during the last quarter. DnB Asset Management AS boosted its stake in shares of Bancolombia by 12.1% in the 4th quarter. DnB Asset Management AS now owns 15,800 shares of the bank’s stock worth $626,000 after buying an additional 1,700 shares during the last quarter. Finally, Jefferies Group LLC boosted its stake in shares of Bancolombia by 28.8% in the 4th quarter. Jefferies Group LLC now owns 8,995 shares of the bank’s stock worth $357,000 after buying an additional 2,010 shares during the last quarter. 13.18% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: This piece was originally posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are viewing this piece on another domain, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece can be accessed at https://theolympiareport.com/2018/02/18/bancolombia-cib-stock-rating-upgraded-by-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.