Bancolombia SA (CIB) Shares Down 0.9%
Bancolombia SA (NYSE:CIB)’s share price fell 0.9% during mid-day trading on Tuesday . The stock traded as low as $38.41 and last traded at $38.57, with a volume of 331,142 shares trading hands. The stock had previously closed at $38.92.
Several research firms have issued reports on CIB. Zacks Investment Research downgraded shares of Bancolombia SA from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. HSBC downgraded shares of Bancolombia SA from a “buy” rating to a “hold” rating in a research note on Wednesday, May 25th. Finally, Deutsche Bank AG upgraded shares of Bancolombia SA from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $38.63.
The firm has a 50 day moving average of $35.68 and a 200 day moving average of $34.43. The firm has a market capitalization of $9.28 billion and a price-to-earnings ratio of 11.73.
A hedge fund recently raised its stake in Bancolombia SA stock. Schwab Charles Investment Management Inc. boosted its stake in Bancolombia SA (NYSE:CIB) by 17.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,480 shares of the company’s stock after buying an additional 8,960 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Bancolombia SA were worth $1,618,000 at the end of the most recent quarter.
Bancolombia SA is a commercial bank. The Bank provides financial products and services to a diversified individual, corporate and government customer base throughout Colombia, Latin America and the Caribbean region. The Bank and its subsidiaries offer savings and investment, financing, mortgage banking, factoring, financial and operating leases, capital markets, eTrading, cash management, foreign currency, insurance, investment banking, and trust and fiduciary services.
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