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

Key Points

• BanColombia has been upgraded to a "strong-buy" rating by Zacks Research, a significant change from its previous "hold" rating.
• The company has a consensus price target of $43.75, according to MarketBeat, despite mixed ratings from various analysts.
• BanColombia reported $1.79 earnings per share for the last quarter, exceeding expectations and marking a notable performance in its financial results.

BanColombia (NYSE:CIB - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Wednesday,Zacks.com reports.

CIB has been the topic of several other reports. Bank of America reissued an "underperform" rating on shares of BanColombia in a research note on Thursday, September 11th. UBS Group reiterated a "neutral" rating and issued a $38.00 price target (up from $35.00) on shares of BanColombia in a research note on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $43.75.

BanColombia Stock Performance

NYSE:CIB opened at $52.56 on Wednesday. The company has a market cap of $12.64 billion, a price-to-earnings ratio of 7.98, a PEG ratio of 1.04 and a beta of 0.97. The firm's 50-day moving average is $48.86 and its 200-day moving average is $44.48. BanColombia has a 52-week low of $30.65 and a 52-week high of $53.99. 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 - Get Free Report) last posted its earnings results on Thursday, August 7th. The bank reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.13. The business had revenue of $1.80 billion for the quarter, compared to analysts' expectations of $1.75 billion. BanColombia had a net margin of 15.30% and a return on equity of 19.77%. Equities research analysts anticipate that BanColombia will post 6 earnings per share for the current year.

Institutional Trading of BanColombia

Several large investors have recently made changes to their positions in the company. Earnest Partners LLC lifted its stake in BanColombia by 2.3% in the 1st quarter. Earnest Partners LLC now owns 2,566,128 shares of the bank's stock valued at $103,158,000 after purchasing an additional 56,475 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in BanColombia by 6.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,133,425 shares of the bank's stock valued at $52,353,000 after purchasing an additional 72,119 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in BanColombia by 22.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 939,979 shares of the bank's stock valued at $43,418,000 after purchasing an additional 173,734 shares during the last quarter. Sei Investments Co. lifted its stake in BanColombia by 29.8% in the 2nd quarter. Sei Investments Co. now owns 863,718 shares of the bank's stock valued at $39,895,000 after purchasing an additional 198,228 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in BanColombia by 3.8% in the 2nd quarter. Bank of America Corp DE now owns 457,601 shares of the bank's stock valued at $21,137,000 after purchasing an additional 16,866 shares during the last quarter.

BanColombia Company Profile

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.

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