Zacks Investment Research Downgrades Bancolombia (CIB) to Sell

Bancolombia (NYSE:CIB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note 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. “

Other analysts have also issued research reports about the company. ValuEngine lowered Bancolombia from a “hold” rating to a “sell” rating in a research note on Monday, August 20th. Citigroup upgraded Bancolombia from a “sell” rating to a “neutral” rating in a research note on Monday, August 27th. Finally, Santander lowered Bancolombia from a “hold” rating to an “underperform” rating in a research note on Monday, November 19th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $46.00.

NYSE CIB traded down $0.31 during trading hours on Monday, hitting $40.56. 300,046 shares of the company traded hands, compared to its average volume of 373,522. Bancolombia has a twelve month low of $35.92 and a twelve month high of $51.38. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $9.83 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 0.80 and a beta of 0.64.

Bancolombia (NYSE:CIB) last issued its quarterly earnings results on Wednesday, November 7th. The bank reported $0.76 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.05). Bancolombia had a net margin of 11.39% and a return on equity of 8.42%. The company had revenue of $1.08 billion for the quarter. As a group, research analysts forecast that Bancolombia will post 3.61 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC bought a new stake in Bancolombia in the third quarter valued at approximately $125,000. Global X Management Co LLC raised its stake in Bancolombia by 4.3% in the second quarter. Global X Management Co LLC now owns 328,556 shares of the bank’s stock valued at $15,698,000 after buying an additional 13,465 shares during the period. Bank of New York Mellon Corp raised its stake in Bancolombia by 617.5% in the second quarter. Bank of New York Mellon Corp now owns 116,283 shares of the bank’s stock valued at $5,556,000 after buying an additional 100,077 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Bancolombia by 2.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 121,803 shares of the bank’s stock valued at $5,820,000 after buying an additional 2,688 shares during the period. Finally, United Services Automobile Association raised its stake in Bancolombia by 5.0% in the third quarter. United Services Automobile Association now owns 284,776 shares of the bank’s stock valued at $11,881,000 after buying an additional 13,500 shares during the period. Hedge funds and other institutional investors own 7.74% of the company’s stock.

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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