Bancolombia (CIB) Cut to “Sell” at Zacks Investment Research
Bancolombia (NYSE:CIB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.
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. “
Several other research firms have also weighed in on CIB. Santander lowered Bancolombia from a “hold” rating to an “underperform” rating in a report on Monday. ValuEngine lowered Bancolombia from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 11th. Finally, Citigroup raised Bancolombia from a “sell” rating to a “neutral” rating in a report on Monday, August 27th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $46.00.
A number of institutional investors have recently bought and sold shares of CIB. FNY Investment Advisers LLC acquired a new stake in Bancolombia in the third quarter valued at $125,000. Rational Advisors LLC boosted its stake in shares of Bancolombia by 60.0% during the second quarter. Rational Advisors LLC now owns 2,934 shares of the bank’s stock valued at $140,000 after acquiring an additional 1,100 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Bancolombia during the third quarter valued at $185,000. Greenleaf Trust acquired a new stake in shares of Bancolombia during the third quarter valued at $311,000. Finally, USA Financial Portformulas Corp acquired a new stake in shares of Bancolombia during the third quarter valued at $353,000. 8.57% of the stock is currently owned by institutional investors.
Bancolombia Company Profile
Bancolombia SA provides various banking products and services to individual, corporate, and government customers in Colombia, Latin America, and the Caribbean region. The company operates in nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, Off Shore, and All Other.
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