Stock Worth Mentioning Today: After Today’s Huge Increase, Is Bancolombia SA (ADR)’s Near-Term Analysis Positive?

Stock Worth Mentioning Today: After Today's Huge Increase, Is Bancolombia SA (ADR)'s Near Term Analysis Positive?

The stock of Bancolombia SA (ADR) (NYSE:CIB) is a huge mover today! About 317,425 shares traded hands. Bancolombia SA (ADR) (NYSE:CIB) has declined 11.88% since April 13, 2016 and is downtrending. It has underperformed by 15.81% the S&P500.
The move comes after 6 months positive chart setup for the $8.19B company. It was reported on Nov, 15 by Barchart.com. We have $46.54 PT which if reached, will make NYSE:CIB worth $2.78B more.

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

Out of 9 analysts covering Bancolombia S.A. (NYSE:CIB), 3 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 33% are positive. Bancolombia S.A. has been the topic of 16 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The company was downgraded on Wednesday, October 28 by JP Morgan. Deutsche Bank upgraded Bancolombia SA (ADR) (NYSE:CIB) on Monday, August 22 to “Buy” rating. UBS downgraded Bancolombia SA (ADR) (NYSE:CIB) on Wednesday, March 16 to “Sell” rating. The rating was downgraded by Goldman Sachs to “Neutral” on Tuesday, March 29. The firm has “Buy” rating by Zacks given on Monday, August 24. As per Monday, August 17, the company rating was upgraded by Standpoint Research. The stock of Bancolombia SA (ADR) (NYSE:CIB) earned “Buy” rating by HSBC on Wednesday, December 16. The stock of Bancolombia SA (ADR) (NYSE:CIB) earned “Outperform” rating by Credit Suisse on Monday, March 7. The stock has “Overweight” rating given by JP Morgan on Thursday, July 23. Credit Suisse downgraded the stock to “Neutral” rating in Thursday, October 6 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 recent Bancolombia SA (ADR) (NYSE:CIB) news were published by: Marketwatch.com which released: “BanColombia SA ADR” on December 21, 2009. Also Benzinga.com published the news titled: “With Bancolombia Shares Fairly Valued, Credit Suisse Steps To The Sidelines” on October 06, 2016. Seekingalpha.com‘s news article titled: “Bancolombia SA (CIB) Q4 2015 Results – Earnings Call Transcript” with publication date: March 10, 2016 was also an interesting one.

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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