Stock of the Day

September 16, 2019

Grupo Cibest (CIB)

$80.41
+$0.94 (+1.2%)
Market Cap: $18.86B

About Grupo Cibest

Bancolombia S.A., together with its subsidiaries, provides banking products and services in Colombia and internationally. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other. It offers checking and savings accounts, money market accounts, time deposits, fixed term deposits, and investment products; trade financing, loans funded by domestic development banks, working capital loans, credit cards, personal and vehicle loans, payroll loans, and overdrafts; factoring; and financial and operating leasing services. The company provides hedging instruments, including futures, forwards, options, and swaps; and brokerage, investment advisory, and private banking services comprising selling and distributing equities, futures, foreign currencies, fixed income securities, mutual funds, and structured products. In addition, it offers cash management services; foreign currency and trade finance solutions; letters of credit and bills collection; insurance and bancassurance products; telephone and mobile phone banking services; and online and computer banking services. Further, the company provides project and acquisition finance, loan syndication, corporate loans, debt and equity capital markets, principal investments, mergers and acquisition, hedging strategy advisories, restructurings, and structured financing; mutual and pension funds, private equity funds, payment and corporate trust, and custody; internet-based trading platform; inter-bank lending and repurchase agreements; managing escrow accounts, and investment and real estate funds; credit cards; roadside and medical assistance services; and transportation, maintenance and remodeling, and outsourcing services, as well as provides technology services. Bancolombia S.A. was founded in 1875 and is headquartered in Medellín, Colombia.

Today's Trend

Bancolombia S.A. (CIB) saw its stock price increase today on the back of a key analyst upgrade and strategic corporate moves. While value comparisons and customer initiatives kept investors engaged, a planned service interruption may temper near-term sentiment.

  • Zacks upgraded CIB to a Rank #2 (Buy), citing improving earnings prospects.
  • Grupo Cibest, a Bancolombia holding, began trading on both the Colombia and New York exchanges, broadening its investor base.
  • Analysts are weighing Bancolombia against Banco Itaú (ITUB) to determine the better value play in the foreign banking sector.
  • A Zacks report highlighted CIB’s appeal to value investors through earnings-estimate revisions and momentum factors.
  • A human-interest feature detailed an “invaluable” collection secured in one of Bancolombia’s vaults, boosting brand image.
  • The bank launched an auction program offering properties starting at 60 million pesos, leveraging its real-estate portfolio.
  • Bancolombia announced a promotional payout for customers using a specific digital feature by month-end.
  • In celebration of its 150th anniversary, the company rolled out a new marketing campaign titled “Tu historia escribe la nuestra.”
  • Customers will experience temporary outages in the mobile app and digital channels due to scheduled maintenance.
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