Bancolombia (NYSE:CIB) Coverage Initiated at Bank of America

Stock analysts at Bank of America assumed coverage on shares of Bancolombia (NYSE:CIB) in a report issued on Thursday, MarketBeat.com reports. The firm set a “neutral” rating and a $38.00 price target on the bank’s stock. Bank of America‘s price objective suggests a potential upside of 15.47% from the stock’s previous close.

Several other brokerages also recently issued reports on CIB. HSBC downgraded shares of Bancolombia from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. JPMorgan Chase & Co. upped their target price on Bancolombia from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.12.

Bancolombia Stock Up 0.6 %

Shares of NYSE CIB opened at $32.91 on Thursday. Bancolombia has a fifty-two week low of $23.12 and a fifty-two week high of $37.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.05 and a current ratio of 1.05. The company’s 50 day simple moving average is $33.65 and its 200 day simple moving average is $30.82.

Bancolombia (NYSE:CIB) last announced its quarterly earnings results on Tuesday, February 20th. The bank reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.26. Bancolombia had a net margin of 13.51% and a return on equity of 18.46%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.68 billion. On average, research analysts anticipate that Bancolombia will post 5.94 earnings per share for the current fiscal year.

Institutional Trading of Bancolombia

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Earnest Partners LLC grew its holdings in shares of Bancolombia by 14.2% during the 3rd quarter. Earnest Partners LLC now owns 2,515,052 shares of the bank’s stock valued at $67,102,000 after purchasing an additional 312,502 shares during the last quarter. C Partners Holding GmbH increased its holdings in Bancolombia by 7.5% in the 4th quarter. C Partners Holding GmbH now owns 818,496 shares of the bank’s stock worth $25,185,000 after purchasing an additional 56,977 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Bancolombia by 16.3% during the third quarter. Sei Investments Co. now owns 686,161 shares of the bank’s stock worth $18,307,000 after purchasing an additional 96,247 shares during the last quarter. INCA Investments LLC raised its holdings in Bancolombia by 21.9% in the 4th quarter. INCA Investments LLC now owns 518,072 shares of the bank’s stock valued at $15,941,000 after buying an additional 93,238 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its position in Bancolombia by 447.3% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 222,222 shares of the bank’s stock worth $5,929,000 after buying an additional 181,615 shares during the period.

Bancolombia Company Profile

Bancolombia SA, together with its subsidiaries, provides banking products and services in Colombia and internationally. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.