Bancolombia (NYSE:CIB) Lowered to Sell at The Goldman Sachs Group

Bancolombia (NYSE:CIB) was downgraded by research analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a report released on Tuesday, Marketbeat.com reports. They currently have a $32.00 price objective on the bank’s stock, down from their previous price objective of $34.00. The Goldman Sachs Group’s target price points to a potential downside of 3.70% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Bancolombia from $36.00 to $35.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Bank of America initiated coverage on shares of Bancolombia in a report on Thursday, May 2nd. They set a “neutral” rating and a $38.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $33.32.

Bancolombia Stock Performance

Shares of CIB opened at $33.23 on Tuesday. Bancolombia has a 1 year low of $24.15 and a 1 year high of $37.85. The stock has a market capitalization of $7.99 billion, a PE ratio of 5.22 and a beta of 1.22. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50-day simple moving average of $33.04 and a 200-day simple moving average of $33.56.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CIB. Parallel Advisors LLC boosted its holdings in shares of Bancolombia by 164.9% in the fourth quarter. Parallel Advisors LLC now owns 2,069 shares of the bank’s stock valued at $64,000 after acquiring an additional 1,288 shares during the period. Virtus Investment Advisers Inc. acquired a new stake in Bancolombia during the 1st quarter worth $89,000. V Square Quantitative Management LLC purchased a new position in Bancolombia during the 4th quarter worth $117,000. Barometer Capital Management Inc. purchased a new position in Bancolombia during the 4th quarter worth $123,000. Finally, Signaturefd LLC raised its holdings in shares of Bancolombia by 26.1% in the fourth quarter. Signaturefd LLC now owns 4,425 shares of the bank’s stock valued at $136,000 after buying an additional 916 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.