Bancolombia SA (NYSE:CIB) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $40.62 and last traded at $40.59, with a volume of 275,045 shares. The stock had previously closed at $39.30.

Several equities research analysts have recently issued reports on CIB shares. Zacks Investment Research upgraded Bancolombia SA from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Monday, June 20th. Deutsche Bank AG upgraded Bancolombia SA from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Monday, August 22nd. Finally, HSBC cut Bancolombia SA from a “buy” rating to a “hold” rating in a report on Wednesday, May 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Bancolombia SA presently has a consensus rating of “Hold” and a consensus price target of $39.88.

The firm’s 50-day moving average price is $36.47 and its 200 day moving average price is $34.83. The stock has a market cap of $9.89 billion and a PE ratio of 12.4940.

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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