Live Stock Coverage: After Today’s Gap Down, Is Bancolombia SA (ADR)’s Near-Term Analysis Negative?

Live Stock Coverage: After Today's Gap Down, Is Bancolombia SA (ADR)'s Near Term Analysis Negative?

The stock of Bancolombia SA (ADR) (NYSE:CIB) gapped down by $0.45 today and has $35.11 target or 7.00% below today’s $37.75 share price. The 9 months technical chart setup indicates high risk for the $8.78 billion company. The gap down was reported on Oct, 4 by If the $35.11 price target is reached, the company will be worth $614.60M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 3.30% or $1.29 on October 3, hitting $37.75. About 532,317 shares traded hands or 13.48% up from the average. Bancolombia SA (ADR) (NYSE:CIB) has risen 23.25% since March 1, 2016 and is uptrending. It has outperformed by 11.03% the S&P500.

Bancolombia SA (ADR) (NYSE:CIB) Ratings Coverage

Out of 9 analysts covering Bancolombia S.A. (NYSE:CIB), 4 rate it a “Buy”, 2 “Sell”, while 3 “Hold”. This means 44% are positive. Bancolombia S.A. has been the topic of 15 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The company was upgraded on Thursday, July 23 by JP Morgan. The rating was upgraded by Standpoint Research to “Buy” on Friday, August 14. JP Morgan downgraded the shares of CIB in a report on Wednesday, October 28 to “Neutral” rating. The firm earned “Buy” rating on Monday, August 17 by Standpoint Research. The firm has “Sell” rating given on Wednesday, March 16 by UBS. The firm has “Buy” rating by HSBC given on Wednesday, December 16. The firm earned “Neutral” rating on Tuesday, March 29 by Goldman Sachs. The stock of Bancolombia SA (ADR) (NYSE:CIB) earned “Neutral” rating by Bank of America on Monday, March 14. The firm earned “Outperform” rating on Monday, March 7 by Credit Suisse. The rating was maintained by Barclays Capital on Thursday, March 24 with “Underweight”.

According to Zacks Investment Research, “BanColombia is Colombia’s largest bank in terms of assets and also has the largest market participation in deposit products and loans.”

More important recent Bancolombia SA (ADR) (NYSE:CIB) news were published by: which released: “BanColombia SA ADR” on December 21, 2009, also published article titled: “Bancolombia SA (CIB) Q4 2015 Results – Earnings Call Transcript”, published: “Like Bank of Nova Scotia? Then You’ll Love This Stock” on September 19, 2016. More interesting news about Bancolombia SA (ADR) (NYSE:CIB) was released by: and their article: “Latin American ADRs Getting Slaughtered, Brazilian Real And Crude Continue To …” with publication date: September 22, 2015.

CIB Company Profile

Bancolombia S.A. (Bancolombia), incorporated on November 22, 1984, is a financial institution, with presence in various jurisdictions, such as Colombia, Panama, El Salvador, Puerto Rico, Guatemala, the Cayman Islands and Peru. The Bank is engaged in providing a range of financial services and products to a diversified individual, corporate, and government customer base throughout Colombia, Latin America and the Caribbean region. The Bank manages its business through 10 divisions: Banking Colombia, Banking Panama, Banking El Salvador, Leasing, Trust, Investment Banking, Brokerage, Off Shore and All other. The Bank delivers its services and products through its regional network comprising Colombia’s non-Government owned banking network, El Salvador’s financial conglomerate by gross loans, Guatemala’s bank, Panama’s bank and off-shore banking subsidiaries in Panama, Cayman and Puerto Rico, as well as subsidiaries in Peru. The Bank and its subsidiaries offer Savings And Investment, Ahorro A La Mano, Financing, Mortgage Banking, Factoring, Financial and Operating Leases, Capital Markets, eTrading, Cash Management, Foreign Currency, Bancassurance, Investment Banking and Trust Services.

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