Bancolombia (NYSE:CIB) Upgraded at Morgan Stanley

Bancolombia (NYSE:CIB - Get Free Report) was upgraded by equities research analysts at Morgan Stanley from an "equal weight" rating to an "overweight" rating in a report issued on Tuesday, Marketbeat.com reports. The brokerage presently has a $53.00 price objective on the bank's stock, up from their previous price objective of $40.00. Morgan Stanley's price target points to a potential upside of 33.98% from the stock's current price.

Bancolombia Stock Performance

CIB stock traded down $0.28 on Tuesday, reaching $39.56. The company's stock had a trading volume of 239,871 shares, compared to its average volume of 457,586. Bancolombia has a 52 week low of $30.25 and a 52 week high of $40.62. The company has a market capitalization of $9.51 billion, a P/E ratio of 6.27, a price-to-earnings-growth ratio of 2.29 and a beta of 1.20. The firm has a fifty day moving average of $33.08 and a two-hundred day moving average of $32.64. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.00 and a quick ratio of 1.00.

Institutional Trading of Bancolombia

A number of hedge funds have recently modified their holdings of CIB. Measured Wealth Private Client Group LLC raised its holdings in shares of Bancolombia by 6.4% during the third quarter. Measured Wealth Private Client Group LLC now owns 7,800 shares of the bank's stock worth $245,000 after acquiring an additional 471 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Bancolombia by 96.5% during the third quarter. Blue Trust Inc. now owns 1,305 shares of the bank's stock worth $43,000 after acquiring an additional 641 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased 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 worth $72,000 after buying an additional 657 shares during the last quarter. Ballentine Partners LLC increased its position in Bancolombia by 6.5% during the fourth quarter. Ballentine Partners LLC now owns 11,209 shares of the bank's stock worth $353,000 after buying an additional 680 shares during the last quarter. Finally, US Bancorp DE increased its position in Bancolombia by 18.9% during the third quarter. US Bancorp DE now owns 5,282 shares of the bank's stock worth $166,000 after buying an additional 839 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.