BanColombia (NYSE:CIB) Upgraded at Bank of America

Key Points

• BanColombia has been upgraded by Bank of America from an "underperform" to a "neutral" rating, with a new price target of $49.00, indicating a potential upside of 8.01% from the current price.
• UBS Group also maintains a "neutral" rating with a target price of $38.00, reflecting slight optimism in the stock's performance.
• Currently, BanColombia has an average rating of "Hold" based on analyst evaluations, with a consensus target price of $42.00.

Bank of America upgraded shares of BanColombia (NYSE:CIB - Free Report) from an underperform rating to a neutral rating in a research report sent to investors on Thursday, Marketbeat reports. Bank of America currently has $49.00 price target on the bank's stock, up from their previous price target of $41.00.

Separately, UBS Group restated a "neutral" rating and set a $38.00 price objective (up from $35.00) on shares of BanColombia in a research report on Monday, June 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $42.00.

BanColombia Price Performance

Shares of CIB traded up $0.85 during trading hours on Thursday, reaching $47.90. 97,782 shares of the stock traded hands, compared to its average volume of 399,644. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.26. BanColombia has a 52-week low of $30.65 and a 52-week high of $48.19. The company's 50-day moving average price is $44.37 and its two-hundred day moving average price is $42.12. The company has a market cap of $11.52 billion, a P/E ratio of 7.27, a price-to-earnings-growth ratio of 0.98 and a beta of 0.92.

BanColombia (NYSE:CIB - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The bank reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.66 by $0.13. The firm had revenue of $1.80 billion during the quarter, compared to analysts' expectations of $1.75 billion. BanColombia had a net margin of 15.30% and a return on equity of 17.84%. On average, analysts anticipate that BanColombia will post 6 earnings per share for the current year.

Institutional Trading of BanColombia

A number of institutional investors and hedge funds have recently bought and sold shares of CIB. Vanguard Group Inc. increased its holdings in shares of BanColombia by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 3,099,224 shares of the bank's stock valued at $97,657,000 after purchasing an additional 19,499 shares during the period. Earnest Partners LLC boosted its position in BanColombia by 2.3% during the 1st quarter. Earnest Partners LLC now owns 2,566,128 shares of the bank's stock worth $103,158,000 after acquiring an additional 56,475 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of BanColombia during the 4th quarter valued at about $24,801,000. JPMorgan Chase & Co. raised its stake in shares of BanColombia by 40.0% in the 4th quarter. JPMorgan Chase & Co. now owns 484,281 shares of the bank's stock valued at $15,260,000 after acquiring an additional 138,461 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of BanColombia by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 365,603 shares of the bank's stock valued at $11,523,000 after acquiring an additional 14,293 shares in the last quarter.

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.