What Next for Bancolombia S.A. (NYSE:CIB) Stock After Decrease in Shorted Shares?

May 23, 2018 - By Michael Collier

Bancolombia S.A. (NYSE:CIB) Logo

The stock of Bancolombia S.A. (NYSE:CIB) registered a decrease of 14.19% in short interest. CIB’s total short interest was 709,800 shares in May as published by FINRA. Its down 14.19% from 827,200 shares, reported previously. With 324,200 shares average volume, it will take short sellers 2 days to cover their CIB’s short positions. The short interest to Bancolombia S.A.’s float is 0.43%.

The stock increased 1.52% or $0.69 during the last trading session, reaching $45.94. About 640,405 shares traded or 31.89% up from the average. Bancolombia S.A. (NYSE:CIB) has risen 6.47% since May 23, 2017 and is uptrending. It has underperformed by 5.08% the S&P500.

Bancolombia S.A. provides various banking services and products to individual, corporate, and government clients throughout Colombia, Latin America, and the Caribbean region. The company has market cap of $44.19 billion. The firm operates through nine divisions: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, Off Shore, and All Other. It has a 12.43 P/E ratio. It offers checking and savings accounts, 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, overdrafts, and financing for industrial projects; mortgage banking and factoring services; and financial and operating leasing services.

Bancolombia S.A. (NYSE:CIB) Ratings Coverage

Among 4 analysts covering Bancolombia (NYSE:CIB), 1 have Buy rating, 1 Sell and 2 Hold. Therefore 25% are positive. Bancolombia had 4 analyst reports since January 9, 2018 according to SRatingsIntel. Standpoint Research upgraded Bancolombia S.A. (NYSE:CIB) on Wednesday, March 7 to “Accumulate” rating. As per Friday, March 16, the company rating was maintained by JP Morgan. The firm has “Sell” rating by Citigroup given on Tuesday, January 9.

Another recent and important Bancolombia S.A. (NYSE:CIB) news was published by Seekingalpha.com which published an article titled: “Bancolombia’s (CIB) CEO Juan Carlos Mora on Q1 2018 Results – Earnings Call Transcript” on May 16, 2018.

Bancolombia S.A. (NYSE:CIB) Ratings Chart

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