BanColombia (NYSE:CIB) Bolsa

BanColombia

BanColombia SA is a financial services company. A conglomerate of financial institutions, BanColombia offers a wide range of product offerings and financial services, including loans to small and midsize enterprises and governments, leasing, factoring, and asset management. The company's operations are in Colombia, Panama, El Salvador, the United States of America, Puerto Rico, Bermuda, and Guatemala. The Bank has the following segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking and All other segments. The majority of revenue is generated from the Banking Colombia segment.

Grupo Cibest S.A. American Depositary Shares each representing four Preferred Shares

BanColombia SA

COMML INTL BK S/ADR by Commercial International Bank Ltd.

Commercial International Bank (Egypt) CIB

CIB MARINE BANCSHARES by CIB Marine Bancshares, Inc.

CIB Marine Bancshares Inc

COMMUTY INV BANCORP INC by Community Investors Bancorp, Inc.

Community Investors Bancorp Inc

First Trust NASDAQ Cybersecurity ETF

CIBL Inc

WIIM

ABCB

BANR

BPOP

CATY

CUBI

CVBF

FCNCA

FFBC

FFIN

FIBK

FRME

GBCI

HIFS

IBOC

INBK

INDB

MBCN

PNFP

RNST

SBCF

SFBS

SFNC

TBBK

TCBI

TFIN

UBSI

UMBF

WAFD

WSBC

WSFS

WTFC

Shares of banking companies are trading lower as stocks pull back after surging Wednesday following President Trump's tariff pause announcement.

AVAL

BANC

BANF

BBAR

BBDO

BBVA

BSAC

BSBR

CBSH

GGAL

ITUB

MUFG

RRBI

SMFG

SUPV

Shares of banking companies are trading higher following President Trump's decision to implement a 90-day pause on reciprocal tariffs for all countries except China.

ALLY

ARES

CNCK

CRBG

ENVA

GDOT

HBAN

HOOD

HSBC

IBKR

INTR

JFIN

LMND

LPLA

PMAX

QFIN

ROOT

SOFI

TIGR

Shares of banks and financial services stocks are trading lower following greater-than-expected inflation data measured through the PCE price index for February, while personal spending missed estimates. Additionally, recent tariff announcements may be weighing on equities.

CNFR

HRTG

Shares of banks and financial services stocks are trading higher amid an overall market rebound following recent weakness.

Goldman Sachs analyst Tito Labarta maintains BanColombia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIB#NYSE">CIB</a>) with a Sell and raises the price target from $31 to $35.

News

Price Target

Analyst Ratings

Goldman Sachs Maintains Sell on BanColombia, Raises Price Target to $35

Earnings

ACCO

AKAM

ALIT

ALRM

ARDX

ATHM

AXTI

BABA

BAND

BBDC

BBIO

BIGC

BILI

BIRK

BJRI

BKNG

BLDR

CARG

CCRD

CDRO

CELH

CENX

CERS

CGAU

COKE

COLD

CPRT

CRAI

CSTM

DAVA

DBRG

DGICA

DGICB

DINO

DVAX

EPAM

ESAB

EXPI

FIVN

FRPT

FYBR

GDYN

GKOS

GLOB

GLPI

GMED

GRAL

INDI

INDV

INOD

INSM

IRTC

ITGR

Earnings Scheduled For February 20, 2025

Morgan Stanley analyst Jorge Kuri upgrades BanColombia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIB#NYSE">CIB</a>) from Equal-Weight to Overweight and raises the price target from $40 to $53.

Upgrades

Morgan Stanley Upgrades BanColombia to Overweight, Raises Price Target to $53

BanColombia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIB#NYSE">CIB</a>) reported quarterly earnings of $1.49 per share which beat the analyst consensus estimate of $1.43 by 4.2 percent. The company reported quarterly sales of $1.257 billion which missed the analyst consensus estimate of $1.573 billion by 20.10 percent. This is a 4.92 percent increase over sales of $1.198 billion the same period last year.

Earnings Beats

Earnings Misses

BanColombia Q3 2024 GAAP EPS $1.49 Beats $1.43 Estimate, Sales $1.257B Miss $1.573B Estimate

BanColombia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIB#NYSE">CIB</a>) is set to give its latest quarterly earnings report on Thursday, 2024-11-07. Here's what investors need to know before the announcement.
Analysts estimate that BanColombia will report an earnings per share (EPS) of $1.42. 
The market awaits BanColombia's announcement, with hopes high for news of surpassing estimates and providing upbeat guidance for the next quarter.
It's important for new investors to understand that guidance can be a significant driver of stock prices.
<h3>Performance in Previous Earnings</h3>
In the previous earnings release, the company missed EPS by $0.08, leading to a 0.0% drop in the share price the following trading session.
Here's a look at BanColombia's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.52</td>
<td>1.50</td>
<td>1.37</td>
<td>1.42</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.44</td>
<td>1.54</td>
<td>1.58</td>
<td>1.53</td>
</tr>
<tr>
<td>Price Change %</td>
<td>0.0%</td>
<td>0.0%</td>
<td>3.0%</td>
<td>1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730912622_0.png" alt="eps graph" />
<h3>Tracking BanColombia's Stock Performance</h3>
Shares of BanColombia were trading at $32.22 as of November 05. Over the last 52-week period, shares are up 20.33%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/CIB/earnings">To track all earnings releases for BanColombia visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview: BanColombia

Across the recent three months, 4 analysts have shared their insights on BanColombia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIB#NYSE">CIB</a>), expressing a variety of opinions spanning from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $34.25, a high estimate of $36.00, and a low estimate of $32.00. A negative shift in sentiment is evident as analysts have decreased the average price target by 4.2%. 
<img src="https://www.benzinga.com/files/images/story/2024/1724954471_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive BanColombia. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Ernesto Gabilondo</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Underperform</td>
<td>$34.00</td>
<td>$38.00</td>
</tr>
<tr>
<td>Tito Labarta</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Sell</td>
<td>$32.00</td>
<td>$34.00</td>
</tr>
<tr>
<td>Yuri Fernandes</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Underweight</td>
<td>$35.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Yuri Fernandes</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Underweight</td>
<td>$36.00</td>
<td>$35.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to BanColombia. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of BanColombia compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of BanColombia's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Capture valuable insights into BanColombia's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/CIB/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on BanColombia analyst ratings.</a>
<h2>Delving into BanColombia's Background</h2>
BanColombia SA is a financial services company. A conglomerate of financial institutions, BanColombia offers a wide range of product offerings and financial services, including loans to small and midsize enterprises and governments, leasing, factoring, and asset management. The company's operations are in Colombia, Panama, El Salvador, the United States of America, Puerto Rico, Bermuda, and Guatemala.
<h3>Understanding the Numbers: BanColombia's Finances</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Decline in Revenue: Over the 3 months period, BanColombia faced challenges, resulting in a decline of approximately -1.59% in revenue growth as of 30 June, 2024. This signifies a reduction in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Financials sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 11.01%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): BanColombia's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 2.04%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): BanColombia's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of 0.22%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: BanColombia's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.79.
<h2>How Are Analyst Ratings Determined?</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Deep Dive Into BanColombia Stock: Analyst Perspectives (4 Ratings)

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59e66622efacff0001251da7/martijn-rats">Morgan Stanley analyst Martijn Rats </a>downgraded the rating for Equinor ASA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) from Equal-Weight to Underweight and lowered the price target from $30.5 to $25.8. Equinor shares closed at $27.10 on Wednesday. <a href="https://www.benzinga.com/quote/eqnr/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities analyst Ernesto Gabilondo downgraded the rating for Bancolombia S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIB#NYSE">CIB</a>) from Neutral to Underperform and lowered the price target from $38 to $34. BanColombia shares fell 0.3% to close at $33.12 on Wednesday. <a href="https://www.benzinga.com/quote/cib/analyst-ratings">See how other analysts view this stock.</a></li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/61decf5dab16510001921543/brian-harbour">Morgan Stanley analyst Brian Harbour</a> downgraded CAVA Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) from Overweight to Equal-Weight, but raised the price target from $90 to $110. Cava Group shares rose 0.3% to close at $118.44 on Wednesday. <a href="https://www.benzinga.com/quote/cava/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities analyst Madeline Brooks downgraded the rating for Okta, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>) from Buy to Underperform, while cutting the price target from $135 to $75. Okta shares fell 0.5% to settle at $96.54 on Wednesday. <a href="https://www.benzinga.com/quote/okta/analyst-ratings">See how other analysts view this stock.</a></li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58bff746b85e930001906485/jason-kreyer">Craig-Hallum analyst Jason Kreyer </a>downgraded comScore, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCOR#NASDAQ">SCOR</a>) from Buy to Hold and lowered the price target from $18 to $8. comScore shares fell 4.3% to close at $6.71 on Wednesday. <a href="https://www.benzinga.com/quote/scor/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying OKTA stock? Here&#8217;s what analysts think:
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="497" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/29085546/image-298-1024x497.png" alt="" class="wp-image-520719" style="width:573px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/29085546/image-298-1024x497.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/29085546/image-298-300x146.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/29085546/image-298-768x373.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/29085546/image-298.png 1362w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>

Downgrades

Pre-Market Outlook

Trading Ideas

CAVA

EQNR

OKTA

SCOR

This Okta Analyst Turns Bearish; Here Are Top 5 Downgrades For Thursday

B of A Securities analyst Ernesto Gabilondo downgrades BanColombia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIB#NYSE">CIB</a>) from Neutral to Underperform and lowers the price target from $38 to $34.

B of A Securities Downgrades BanColombia to Underperform, Lowers Price Target to $34

Goldman Sachs analysts upgraded Banco Santander-Chile (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSAC#NYSE">BSAC</a>) from Sell to Neutral, citing Chile as <a href="https://www.benzinga.com/news/large-cap/24/08/40441573/bhp-averts-strike-at-worlds-largest-copper-mine-stabilizes-chinese-copper-supply">an ideal place to do business</a> for Andean banks.
Goldman Sachs&#8217; Tito Labarta expects &#8220;strong earnings momentum at the bank in the medium term&#8221; and expects its EPS to grow 24% on average for the period from 2023 to the end of 2026 after profits fell sharply in 2023.
&#8220;The macro scenario in Chile also screens favorably when compared to the other Andean banks in our coverage, with better industry loan growth and significantly lower delinquency ratios,&#8221; Labarta said in a note.
Goldman Sachs maintains a price target of $21 on Banco Santander-Chile and expects the bank&#8217;s return on equity to rebound to 17.2% in 2024 and 18.5% in 2025 from 11.7% in 2023.&nbsp;
Read Also: <a href="http://BHP Faces Prolonged Strike Threat At The Largest Global Copper Mine">BHP Faces Prolonged Strike Threat At The Largest Global Copper Mine</a>
Meanwhile, Goldman Sachs downgraded Bancolombia S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIB#NYSE">CIB</a>) from Neutral to Sell. The firm expects &#8220;the weak earnings momentum to continue in the medium term&#8221; due to easing cycle pressures on net interest margin due to Colombia&#8217;s economy.
&#8220;Loan growth in Colombia is muted, negatively pressured by a still high level of interest rates and resilient inflation,&#8221; Labarta said.&nbsp;
&#8220;Moreover, the still high inflation and interest rate environment could hinder loan growth in the medium term and indicate that the credit cycle has not yet peaked.&#8221;
He also forecasted that the bank&#8217;s profitability should keep falling through 2025 and 2026 to 14.3% and 13.5%, respectively, staying in-line with Bancolombia's cost of equity of 13.8% but well below its pre-pandemic average of 19.2%. 
Price Action: Banco Santander-Chile gained 1.17% to $20.75 as of Tuesday&#8217;s mid-afternoon trading, while Bancolombia fell 4.57% to $33.20.
Read Now:
<ul>
<li><a href="https://www.benzinga.com/news/events/24/08/40312619/wealth-minerals-taps-chilean-lithium-projects-to-meet-rising-global-demand">Wealth Minerals Taps Chilean Lithium Projects To Meet Rising Global Demand</a></li>
</ul>
Image courtesy of Banco Santander-Chile

Analyst Color

Goldman Sachs Analysts Upgrade Santander-Chile, Expect Return On Equity To Rebound Over 17% In 2024 And 18.5% In 2025

Goldman Sachs analyst Tito Labarta downgrades BanColombia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIB#NYSE">CIB</a>) from Neutral to Sell and lowers the price target from $34 to $32.

Goldman Sachs Downgrades BanColombia to Sell, Lowers Price Target to $32

JP Morgan analyst Yuri Fernandes maintains BanColombia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIB#NYSE">CIB</a>) with a Underweight and lowers the price target from $36 to $35.

JP Morgan Maintains Underweight on BanColombia, Lowers Price Target to $35

BanColombia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIB#NYSE">CIB</a>) reported quarterly earnings of $1.44 per share which missed the analyst consensus estimate of $1.45 by 0.69 percent. The company reported quarterly sales of $1.323 billion which missed the analyst consensus estimate of $1.729 billion by 23.49 percent. This is a 15.24 percent increase over sales of $1.148 billion the same period last year.

BanColombia Q2 2024 GAAP EPS $1.44 Misses $1.45 Estimate, Sales $1.323B Miss $1.729B Estimate

JP Morgan analyst Yuri Fernandes maintains BanColombia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIB#NYSE">CIB</a>) with a Underweight and raises the price target from $35 to $36.

JP Morgan Maintains Underweight on BanColombia, Raises Price Target to $36

Deutsche Bank AG (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/db#NYSE">DB</a>) benefits from a strong balance sheet position and revenue growth. Its strong liquidity profile aids sustainable capital distribution activities. However, a rise in expenses and a deterioration in credit quality are concerning.
Deutsche Bank continues to benefit from its deposit balance. The metric has witnessed a 2% CAGR over the last five years (ending in 2023) and the trend continued in the first quarter of 2024. Furthermore, the bank benefits from a diverse deposit base that spans multiple client categories and geographic regions. Also, as of Mar 31, 2024, the company&#39;s loan-to-deposit ratio was 75.7%, indicating a robust and steady capital foundation. We believe that a stable deposit level will benefit its balance sheet.
DB remains focused on strengthening its capital position. As of Mar 31, 2024, the Common Equity Tier 1 (CET 1) ratio was 13.4%. Risk-weighted asset (RWA) reductions and strong organic capital generation enabled the bank to see improvement in the CET1 ratio. As of Mar 31, 2024, &euro;15 billion of RWA reductions have been achieved, out of the target to reach &euro;25-30 billion in reductions by 2025-end. It expects to maintain a CET 1 ratio of approximately 13% by 2025.
Net revenues recorded a CAGR of 2.7% over the last five years (ended 2023), with this upswing persisting in the first quarter of 2024. Management is shifting focus from investment banking to more stable and capital-light businesses, like private bank, corporate bank and asset management units.
Shares of this Zacks Rank #3 (Hold) company have gained 20% on the NYSE over the past three months compared with the industry&#39;s growth of 10.8%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/4e/68122.jpg?v=1559669298" />
Image Source: Zacks Investment Research
The bank has seen a deterioration in its credit quality. Its provision for credit losses witnessed a CAGR of 23.4% over the last five years (ended 2023), with the rising trend continuing in the first quarter of 2024. The current volatile economic backdrop is expected to affect credit quality in the near term. We project provisions to be &euro;1.67 billion and &euro;3.91 billion in 2024 and 2025, respectively.
Due to the nature of its business, Deutsche Bank is involved in litigation, arbitration and regulatory processes in Germany as well as a number of other jurisdictions. The bank has already incurred considerable legal settlement fees, which have had a negative impact on its finances.
<h3>Bank Stocks Worth Considering</h3>
Some better-ranked foreign bank stocks are Banco Macro S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bma#NYSE">BMA</a>) and Bancolombia S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cib#NYSE">CIB</a>).
The consensus estimate for Banco Macro&#39;s current-year earnings has been revised 29.6% upward over the past 30 days. Over the past three months, shares of BMA have surged 69.9%. The stock currently sports a Zacks Rank #1 (Strong Buy).
Bancolombia S.A.&#39;s current-year earnings have been revised almost 1% upward over the past 30 days. Shares of CIB have gained 11.6% over the past three months. The stock currently carries a Zacks Rank #2 (Buy).
<a href="https://www.zacks.com/stock/news/2283456/deutsche-bank-s-db-deposit-base-aids-low-credit-quality-ails?cid=CS-BENZ-FT-analyst_blog|zer_report_update-2283456">To read this article on Zacks.com click here.</a>

Markets

Deutsche Bank's Deposit Base Aids, Low Credit Quality Ails

Ita&uacute; Unibanco Holding S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/itub#NYSE">ITUB</a>) has announced a corporate internal restructuring plan. This will include the merger of its wholly-owned subsidiary, Hipercard Banco M&uacute;ltiplo S.A. (&quot;Hipercard&quot;), subject to approval from the Central Bank of Brazil. The cost associated with executing and implementing the transaction is estimated to be approximately R$180,000 ($34,843). 
As part of the effort, all activities currently managed by Hipercard, including the administration of bank cards, will be transferred to Ita&uacute; Unibanco. The primary purpose of this merger is to achieve greater synergy among the companies and activities of the ITUB conglomerate. This will help streamline costs and enhance efficiency. 
Following the completion of the transaction, Hipercard will be dissolved as an entity and its assets will be taken over by ITUB. This will lead to a reduction in maintenance costs, rationalization in administrative and commercial activities and an improvement in the overall corporate structure. 
Ita&uacute; Unibanco will take over Hipercard&#39;s equity worth R$2.68 billion ($518 million). The merger will not result in any increase in capital or the issuance of new shares of ITUB. There will be no exchange ratio. Also, rules relating to withdrawal rights for dissenting shareholders will not apply. Overall, the transaction will not have any financial impact on Ita&uacute; Unibanco. 
This strategic move highlights ITUB&#39;s ability to adapt to the trends of the rapidly evolving market and strengthen its competitive placement. Through such efforts, the company is well-poised to improve its market leadership and drive sustainable growth in the long run.
Over the past six months, the company&#39;s shares on the NYSE have lost 3.1% against the industry&#39;s growth of 14.4%. 
&nbsp;&nbsp;<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/9d/67596.jpg?v=56193037" /> 
Image Source -&nbsp;Zacks Investment Research
At present, ITUB carries a Zacks Rank #3 (Hold).
<h3>Stocks to Consider</h3>
Some better-ranked foreign finance stocks are Bancolombia S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cib#NYSE">CIB</a>) and Banco Macro S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bma#NYSE">BMA</a>). 
Bancolombia S.A.&#39;s current-year earnings have been revised upward marginally over the past 30 days. Shares of CIB have gained 26.4% over the past six months. The stock currently sports a Zacks Rank #1 (Strong Buy). 
The consensus estimate for Banco Macro&#39;s current-year earnings have been revised 29.6% upward over the past 30 days. Over the past three months, shares of BMA have gained 46.5%. The stock currently flaunts a Zacks Rank #1.
<a href="https://www.zacks.com/stock/news/2280215/itau-unibanco-itub-announces-merger-proposal-with-hipercard?cid=CS-BENZ-FT-analyst_blog|company_news_-_finance_sector-2280215">To read this article on Zacks.com click here.</a>

Itau Unibanco Announces Merger Proposal With Hipercard

B of A Securities analyst Ernesto Gabilondo reinstates BanColombia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIB#NYSE">CIB</a>) with a Neutral and announces $38 price target.

Initiation

B of A Securities Reinstates Neutral on BanColombia, Announces $38 Price Target

Press Releases

Bancolombia S.A. Accepts to Purchase All Tendered and Not Validly Withdrawn Offers of Bancolombia S.A.'s Outstanding 3.000% Senior Notes Due 2025 and 6.909% Subordinated Notes Due 2027

BANCOLOMBIA S.A. ANNOUNCES FILING OF THE 2024 ANNUAL REPORT ON FORM 20-F

Grupo Aval Acciones y Valores S.A. ADR (Each representing 20 preferred shares)

Grupo Aval Acciones

Credicorp

Banco BBVA Argentina

Banco Bradesco Sa American Depositary Shares

Bank Bradesco

Banco Bradesco Sa American Depositary Shares (each representing one Common Share)

Banco De Chile

Banco Macro S.A. ADR (representing Ten Class B Common Shares)

Banco Macro

Banco Santander Chile

Comments

BanColombia

Noticias

SOCIO/CONTRIBUIDOR

BENZINGA GLOBAL