Bancolombia SA (CIB) Sees Strong Trading Volume
Shares of Bancolombia SA (NYSE:CIB) saw strong trading volume on Thursday . 321,612 shares were traded during trading, an increase of 59% from the previous session’s volume of 202,896 shares.The stock last traded at $37.40 and had previously closed at $36.63.
A number of research analysts have recently commented on the company. Zacks Investment Research downgraded Bancolombia SA from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. HSBC downgraded Bancolombia SA from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $39.25.
The firm’s 50 day moving average is $34.85 and its 200-day moving average is $33.84. The company has a market cap of $8.94 billion and a P/E ratio of 12.23.
A hedge fund recently raised its stake in Bancolombia SA stock. Morgan Stanley raised its position in shares of Bancolombia SA (NYSE:CIB) by 160.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,261 shares of the company’s stock after buying an additional 31,559 shares during the period. Morgan Stanley’s holdings in Bancolombia SA were worth $1,371,000 as of its most recent SEC filing.
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.