What Will The Effects of a Barclays Capital Downgrade Be For Bancolombia S.A (NYSE:CIB) Shares?


Bancolombia S.A (NYSE:CIB) Receives a Downgrade

In recent note shared with investors and clients on 3 December, Barclays Capital downgraded shares of Bancolombia S.A (NYSE:CIB) to a lower “Underweight” rating from the previous “Equal Weight” rating.

From a total of 10 analysts covering Bancolombia S.A. (NYSE:CIB) stock, 3 rate it a ”Buy”, 2 a “Sell”, and 6 a ”Hold”. This means that 27% of the ratings are positive. The highest target price is $54.7 while the lowest target price is $29.5. The mean of all analyst targets is $40.77 with a 65.93% above today’s ($26.97) stock price. Bancolombia S.A. was the topic of 7 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. JP Morgan downgraded shares on October 28 to “Neutral” rating. Zacks downgraded shares to “Buy” rating and target share price in a report from an August 24. Standpoint Research upgraded CIB stock in a recent report from August 17 to “Buy” rating.

Approximately 743,441 shares of stock traded hands or 24.87% up from the average. Bancolombia SA (ADR) (NYSE:CIB) has declined 40.09% since April 30, 2015 and is downtrending. It has underperformed by 39.81% the S&P500.

What Will The Effects of a Barclays Capital Downgrade Be For Bancolombia S.A (NYSE:CIB) Shares?

Bancolombia S.A. is a commercial bank. The company has a market cap of $6.42 billion. The Bank provides financial services and products to a diversified individual, corporate and government customer base throughout Colombia, Latin America and the Caribbean region. It has 8.07 P/E ratio. The Bank and its subsidiaries offer savings and investment, financing, mortgage banking, factoring, financial and operating leases, capital markets, eTrading, cash management, foreign currency, insurance, investment banking, and trust and fiduciary services.

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.” Get a free copy of the Zacks research report on Bancolombia SA (ADR) (CIB).