BanColombia (NYSE:CIB) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of BanColombia (NYSE:CIB) from a hold rating to a strong-buy rating in a report published on Wednesday,Zacks.com reports.

CIB has been the subject of a number of other research reports. Bank of America reiterated an “underperform” rating on shares of BanColombia in a research report on Thursday, September 11th. UBS Group reiterated a “neutral” rating and issued a $38.00 target price (up previously from $35.00) on shares of BanColombia in a research report on Monday, June 2nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $43.75.

BanColombia Stock Up 0.2%

Shares of NYSE:CIB opened at $52.56 on Wednesday. The stock has a market capitalization of $12.64 billion, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97. BanColombia has a 1-year low of $30.65 and a 1-year high of $53.99. The company’s fifty day moving average is $48.86 and its two-hundred day moving average is $44.48. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.00 and a current ratio of 1.00.

BanColombia (NYSE:CIB) last released its quarterly earnings data on Thursday, August 7th. The bank reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.13. BanColombia had a net margin of 15.30% and a return on equity of 19.77%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Equities analysts anticipate that BanColombia will post 6 EPS for the current year.

Institutional Trading of BanColombia

A number of hedge funds have recently made changes to their positions in CIB. Caitong International Asset Management Co. Ltd lifted its stake in BanColombia by 253.2% in the second quarter. Caitong International Asset Management Co. Ltd now owns 657 shares of the bank’s stock valued at $30,000 after acquiring an additional 471 shares during the last quarter. SVB Wealth LLC acquired a new stake in BanColombia in the first quarter valued at approximately $45,000. Tower Research Capital LLC TRC lifted its stake in BanColombia by 796.3% in the second quarter. Tower Research Capital LLC TRC now owns 977 shares of the bank’s stock valued at $45,000 after acquiring an additional 868 shares during the last quarter. Aberdeen Group plc acquired a new stake in BanColombia in the first quarter valued at approximately $201,000. Finally, Corient Private Wealth LLC acquired a new stake in BanColombia in the second quarter valued at approximately $205,000.

About BanColombia

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.