Shares of Bancolombia SA (NYSE:CIB) were up 4.1% during mid-day trading on Monday . The company traded as high as $41.19 and last traded at $40.90, with a volume of 586,100 shares changing hands. The stock had previously closed at $39.30.

A number of analysts have issued reports on CIB shares. Zacks Investment Research raised shares of Bancolombia SA from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Wednesday, May 25th. Deutsche Bank AG raised shares of Bancolombia SA from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Monday, August 22nd. Finally, HSBC downgraded shares of Bancolombia SA from a “buy” rating to a “hold” rating in a report on Wednesday, May 25th. One equities research 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’s stock. The stock currently has an average rating of “Hold” and an average price target of $39.88.

The stock has a market capitalization of $9.83 billion and a P/E ratio of 12.42. The company’s 50-day moving average is $36.63 and its 200 day moving average is $34.88.

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.

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