BanColombia S.A. (NYSE:CIB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm currently has a $53.00 price objective on the bank’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.65% from the company’s current price.

According to Zacks, “BanColombia is Colombia’s largest bank in terms of assets and also has the largest market participation in deposit products and loans. “

CIB has been the topic of several other reports. Standpoint Research lowered BanColombia from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. BidaskClub lowered BanColombia from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Credit Suisse Group set a $45.00 price target on BanColombia and gave the company a “hold” rating in a research report on Wednesday, May 24th. J P Morgan Chase & Co reissued a “neutral” rating and set a $41.00 price target (down from $42.00) on shares of BanColombia in a research report on Monday, June 5th. Finally, HSBC Holdings plc lowered BanColombia from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $46.33.

BanColombia (NYSE CIB) traded up 0.15% during mid-day trading on Friday, hitting $47.47. The company had a trading volume of 311,566 shares. The company’s 50 day moving average price is $44.93 and its 200-day moving average price is $42.56. The company has a market cap of $11.41 billion, a PE ratio of 11.54 and a beta of 0.33. BanColombia has a one year low of $31.98 and a one year high of $48.74.

WARNING: This news story was posted by Daily Political and is the property of of Daily Political. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of US & international trademark and copyright legislation. The original version of this news story can be read at https://www.dailypolitical.com/2017/09/15/zacks-investment-research-upgrades-bancolombia-s-a-cib-to-buy.html.

Hedge funds and other institutional investors have recently modified their holdings of the business. Advisor Group Inc. grew its stake in BanColombia by 1.6% in the second quarter. Advisor Group Inc. now owns 3,227 shares of the bank’s stock valued at $144,000 after purchasing an additional 52 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in BanColombia by 5.8% in the first quarter. Nomura Asset Management Co. Ltd. now owns 5,021 shares of the bank’s stock valued at $200,000 after purchasing an additional 275 shares in the last quarter. Teza Capital Management LLC purchased a new position in BanColombia in the first quarter valued at about $204,000. Pinebridge Investments L.P. purchased a new position in BanColombia in the second quarter valued at about $223,000. Finally, Tower Research Capital LLC TRC grew its stake in BanColombia by 1,627.3% in the first quarter. Tower Research Capital LLC TRC now owns 5,700 shares of the bank’s stock valued at $227,000 after purchasing an additional 5,370 shares in the last quarter. Hedge funds and other institutional investors own 14.96% of the company’s stock.

BanColombia Company Profile

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.

Analyst Recommendations for BanColombia (NYSE:CIB)

Receive News & Ratings for BanColombia S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BanColombia S.A. and related companies with MarketBeat.com's FREE daily email newsletter.