Bancolombia SA (CIB) Rating Increased to Buy at HSBC Holdings plc

Bancolombia SA (NYSE:CIB) was upgraded by equities researchers at HSBC Holdings plc from a “hold” rating to a “buy” rating in a research note issued on Friday, The Fly reports.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Bancolombia SA from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Tuesday, March 7th. Credit Suisse Group AG reiterated a “hold” rating and issued a $40.00 target price on shares of Bancolombia SA in a research note on Tuesday, November 22nd. Morgan Stanley upgraded shares of Bancolombia SA from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, December 13th. Finally, Bank of America Corp lowered shares of Bancolombia SA from a “neutral” rating to an “underperform” rating in a report on Friday, February 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $39.63.

Analyst Recommendations for Bancolombia SA (NYSE:CIB)

Bancolombia SA (NYSE:CIB) opened at 38.48 on Friday. Bancolombia SA has a 52 week low of $31.06 and a 52 week high of $42.58. The stock has a market capitalization of $9.25 billion, a PE ratio of 9.79 and a beta of 0.51. The firm has a 50 day moving average of $37.68 and a 200-day moving average of $37.48.

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Several large investors have recently added to or reduced their stakes in CIB. Advisor Group Inc. raised its stake in Bancolombia SA by 8,571.4% in the third quarter. Advisor Group Inc. now owns 3,035 shares of the company’s stock worth $118,000 after buying an additional 3,000 shares during the last quarter. Parallel Advisors LLC acquired a new stake in Bancolombia SA during the fourth quarter worth about $123,000. Catalyst Capital Advisors LLC acquired a new stake in Bancolombia SA during the third quarter worth about $146,000. Federated Investors Inc. PA acquired a new stake in Bancolombia SA during the fourth quarter worth about $150,000. Finally, FNY Partners Fund LP acquired a new stake in Bancolombia SA during the fourth quarter worth about $180,000. 12.43% of the stock is owned by institutional investors and hedge funds.

Bancolombia SA Company Profile

Bancolombia SA (Bancolombia) is a financial institution engaged in providing a range of financial products and services to a diversified individual, corporate, and government customer base throughout Colombia, Latin America and the Caribbean region. The Bank operates through 10 segments: Banking Colombia, Banking Panama, Banking El Salvador, Leasing, Trust, Investment Banking, Brokerage, Off Shore and All other.

5 Day Chart for NYSE:CIB

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