Bancolombia (NYSE:CIB) Upgraded at Morgan Stanley

Bancolombia (NYSE:CIBGet Free Report) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm currently has a $53.00 target price on the bank’s stock, up from their prior target price of $40.00. Morgan Stanley’s target price would indicate a potential upside of 31.43% from the stock’s current price.

Bancolombia Stock Performance

CIB stock opened at $40.33 on Tuesday. The company has a market cap of $9.70 billion, a P/E ratio of 6.39, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. Bancolombia has a 1 year low of $30.25 and a 1 year high of $40.43. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.00 and a quick ratio of 1.00. The stock’s fifty day moving average price is $32.94 and its 200-day moving average price is $32.59.

Hedge Funds Weigh In On Bancolombia

Institutional investors and hedge funds have recently bought and sold shares of the stock. Venturi Wealth Management LLC purchased a new position in Bancolombia during the third quarter valued at $27,000. Blue Trust Inc. lifted its position in Bancolombia by 96.5% during the third quarter. Blue Trust Inc. now owns 1,305 shares of the bank’s stock valued at $43,000 after purchasing an additional 641 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Bancolombia by 41.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank’s stock valued at $72,000 after purchasing an additional 657 shares in the last quarter. R Squared Ltd purchased a new position in Bancolombia during the fourth quarter valued at $121,000. Finally, US Bancorp DE lifted its position in Bancolombia by 18.9% during the third quarter. US Bancorp DE now owns 5,282 shares of the bank’s stock valued at $166,000 after purchasing an additional 839 shares in the last quarter.

About Bancolombia

(Get Free Report)

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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