The stock of Bancolombia SA (ADR) (NYSE:CIB) is a huge mover today! 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.
The move comes after 7 months negative chart setup for the $8.78B company. It was reported on Oct, 4 by Barchart.com. We have $35.86 PT which if reached, will make NYSE:CIB worth $439.00M less.
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. On Monday, March 14 the stock rating was downgraded by Bank of America to “Neutral”. The firm earned “Neutral” rating on Tuesday, March 29 by Goldman Sachs. The rating was downgraded by Barclays Capital on Thursday, December 3 to “Underweight”. The stock of Bancolombia SA (ADR) (NYSE:CIB) has “Underweight” rating given on Thursday, March 24 by Barclays Capital. The stock of Bancolombia SA (ADR) (NYSE:CIB) earned “Buy” rating by Zacks on Monday, August 24. HSBC upgraded Bancolombia SA (ADR) (NYSE:CIB) on Wednesday, December 16 to “Buy” rating. UBS downgraded the shares of CIB in a report on Wednesday, March 16 to “Sell” rating. The rating was upgraded by Standpoint Research on Monday, August 17 to “Buy”. The stock has “Overweight” rating given by JP Morgan on Thursday, July 23. Deutsche Bank upgraded the stock to “Buy” rating in Monday, August 22 report.
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: Marketwatch.com which released: “BanColombia SA ADR” on December 21, 2009, also Seekingalpha.com published article titled: “Bancolombia SA (CIB) Q4 2015 Results – Earnings Call Transcript”, Fool.ca 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: Benzinga.com 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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