Confidence in Bancolombia S.A (NYSE:CIB) Shares by HSBC Securities Rise.


Bancolombia S.A (NYSE:CIB) Stock Upgrade

Bancolombia S.A (NYSE:CIB) was lifted by HSBC Securities from a Hold rating to a solid Buy rating in analysts note released on Wednesday, 16 December.

From a total of 11 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 $28.86. The mean of all analyst targets is $37.7 with a 68.93% above today’s ($26.49) stock price. Bancolombia S.A. was the topic of 8 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Barclays Capital downgraded shares on December 3 to “Underweight” rating. Standpoint Research upgraded shares to “Buy” rating and $48 target share price in a report from an August 14. Zacks downgraded CIB stock in a recent report from August 24 to “Buy” rating. JP Morgan upgraded the rating on July 23. JP Morgan has a “Overweight” rating and a $51 price target on shares.

Approximately 290,701 shares of stock traded hands. Bancolombia SA (ADR) (NYSE:CIB) has declined 45.09% since May 13, 2015 and is downtrending. It has underperformed by 42.47% the S&P500.

Bancolombia S.A. is a commercial bank. The company has a market cap of $6.07 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 8.31 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.”