According to Zacks, “BanColombia is Colombia’s largest bank in terms of assets and also has the largest market participation in deposit products and loans. “
A number of other equities research analysts have also weighed in on the company. Santander upgraded Bancolombia from an underperform rating to a hold rating in a research note on Tuesday, October 15th. ValuEngine upgraded Bancolombia from a strong sell rating to a sell rating in a research note on Monday, November 11th. JPMorgan Chase & Co. upgraded Bancolombia from a neutral rating to an overweight rating and raised their price objective for the company from $48.00 to $55.00 in a research note on Tuesday, August 6th. Finally, Credit Suisse Group upgraded Bancolombia from an underperform rating to a neutral rating and set a $53.00 price objective for the company in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Bancolombia presently has an average rating of Hold and a consensus price target of $56.67.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Bancolombia by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,841,561 shares of the bank’s stock worth $196,073,000 after acquiring an additional 26,028 shares in the last quarter. Genesis Investment Management LLP acquired a new position in shares of Bancolombia in the 3rd quarter worth approximately $105,406,000. BlackRock Inc. grew its position in shares of Bancolombia by 103.9% in the 2nd quarter. BlackRock Inc. now owns 2,065,949 shares of the bank’s stock worth $105,446,000 after acquiring an additional 1,052,496 shares in the last quarter. Polaris Capital Management LLC grew its position in shares of Bancolombia by 0.9% in the 2nd quarter. Polaris Capital Management LLC now owns 1,970,290 shares of the bank’s stock worth $100,564,000 after acquiring an additional 16,700 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Bancolombia by 24.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 747,114 shares of the bank’s stock worth $36,946,000 after acquiring an additional 148,718 shares in the last quarter. Hedge funds and other institutional investors own 7.72% of the company’s stock.
Bancolombia Company Profile
Bancolombia SA provides various banking products and services to individual, corporate, and government customers in Colombia, Latin America, and the Caribbean region. The company operates in nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, Off Shore, and All Other.
Featured Article: What is the Fibonacci sequence?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Bancolombia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bancolombia and related companies with MarketBeat.com's FREE daily email newsletter.