Bancolombia (NYSE:CIB – Get Free Report) was downgraded by the Goldman Sachs Group from “neutral” to “sell” in a report published on Tuesday, Briefing.com reports. The price target for the bank’s stock is currently $32.00, which is below the previous price target of $34.00. The Goldman Sachs Group’s price target suggests a potential downside of 7.97% from the stock’s current price.
Other equities analysts have also recently issued research reports on the stock. Bank of America assumed coverage on Bancolombia shares in a research note on Thursday, May 2nd. They issued a “neutral” rating and a $38.00 price target for the company. JPMorgan Chase & Co. lowered their price target on Bancolombia shares from $36.00 to $35.00 and issued an “underweight” rating to the company in a research note on Monday, August 12th. Two analysts have rated the stock with a sell rating and four have given a hold rating. Based on data from MarketBeat.com, Bancolombia has a consensus rating of “Hold” and a consensus price target of $33.32.
Check out our latest analysis on CIB
Bancolombia trading increases by 2.6%
CIB opened at $34.77 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 5.47 and a beta of 1.22. The company has a 50-day moving average of $33.06 and a 200-day moving average of $33.55. Bancolombia has a 52-week low of $24.15 and a 52-week high of $37.85.
Hedge funds comment on Bancolombia
Several large investors have recently changed their holdings in CIB. Parallel Advisors LLC increased its position in Bancolombia by 164.9% in the fourth quarter. Parallel Advisors LLC now owns 2,069 shares of the bank’s stock valued at $64,000 after acquiring an additional 1,288 shares during the period. Virtus Investment Advisers Inc. acquired a new stake in shares of Bancolombia in the 1st quarter valued at about $89,000. V Square Quantitative Management LLC acquired a new stake in shares of Bancolombia in the 4th quarter valued at about $117,000. Barometer Capital Management Inc. acquired a new stake in shares of Bancolombia in the 4th quarter valued at about $123,000. Finally, Signaturefd LLC increased its stake in shares of Bancolombia by 26.1% in the 4th quarter. Signaturefd LLC now owns 4,425 shares of the bank’s stock valued at $136,000 after acquiring an additional 916 shares in the last quarter.
Bancolombia Company Profile
(Get free report)
Bancolombia SA, together with its subsidiaries, offers banking products and services in Colombia and internationally. The company operates through nine segments: Colombian Banking, Panama Banking, El Salvador Banking, Guatemalan Banking, Trust, Investment Banking, Brokerage, International Banking and Other.
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