Bancolombia SA (CIB) Sees Strong Trading Volume
Shares of Bancolombia SA (NYSE:CIB) saw strong trading volume on Friday . 414,840 shares were traded during mid-day trading, an increase of 4% from the previous session’s volume of 397,014 shares.The stock last traded at $39.12 and had previously closed at $39.23.
A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Bancolombia SA from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. HSBC lowered shares of Bancolombia SA from a “buy” rating to a “hold” rating in a research note on Wednesday, May 25th. Finally, Deutsche Bank AG raised shares of Bancolombia SA from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Monday, August 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $38.63.
The firm’s 50-day moving average price is $35.99 and its 200-day moving average price is $34.53. The stock has a market cap of $9.48 billion and a P/E ratio of 11.98.
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 reporting period.
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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