Upgrades Underperform Neutral X

CIB Bancolombia S.A.

BofA Securities

Upgrades Eq-Weight Overweight X

CIB Bancolombia S.A.

Morgan Stanley

$40 $53

Downgrades Neutral Underperform X

CIB Bancolombia S.A.

BofA Securities

$38 $34

Downgrades Neutral Sell X

CIB Bancolombia S.A.

Goldman

$34 $32

Resumed Neutral X

CIB Bancolombia S.A.

BofA Securities

$38

Downgrades Buy Hold X

CIB Bancolombia S.A.

HSBC Securities

Initiated Hold X

CIB Bancolombia S.A.

Jefferies

$28.60

Downgrades Buy Neutral X

CIB Bancolombia S.A.

Goldman

$35 $31

Downgrades Outperform Mkt Perform X

CIB Bancolombia S.A.

Itau BBA

Downgrades Neutral Underweight X

CIB Bancolombia S.A.

JP Morgan

$30

Upgrades Sell Neutral X

CIB Bancolombia S.A.

UBS

$29 $27

Upgrades Neutral Outperform X

CIB Bancolombia S.A.

Credit Suisse

$35

Downgrades Overweight Neutral X

CIB Bancolombia S.A.

JP Morgan

$46

Upgrades Mkt Perform Outperform X

CIB Bancolombia S.A.

Itau BBA

$47

Upgrades Underperform Neutral X

CIB Bancolombia S.A.

Credit Suisse

Upgrades Neutral Overweight X

CIB Bancolombia S.A.

JP Morgan

Downgrades Neutral Underperform X

CIB Bancolombia S.A.

Credit Suisse

Upgrades Neutral Buy X

CIB Bancolombia S.A.

Citigroup

Upgrades Underweight Neutral X

CIB Bancolombia S.A.

JP Morgan

Upgrades Sell Neutral X

CIB Bancolombia S.A.

Citigroup

Upgrades Hold Accumulate X

CIB Bancolombia S.A.

Standpoint Research

CIB  BanColombia S.A.

Bancolombia SA (Bancolombia) is a financial institution engaged in providing a range of financial products and services to a diversified individual, corporate, and government customer base throughout Colombia, Latin America and the Caribbean region. The Bank operates through 10 segments: Banking Colombia, Banking Panama, Banking El Salvador, Leasing, Trust, Investment Banking, Brokerage, Off Shore and All other. It delivers its products and services through its regional network comprising Colombia's non-Government owned banking network, El Salvador's financial conglomerate by gross loans, Guatemala's bank, Panama's bank and off-shore banking subsidiaries in Panama, Cayman and Puerto Rico, as well as subsidiaries in Peru. The Bank and its subsidiaries offer Savings And Investment, Ahorro A La Mano, Financing, Mortgage Banking, Factoring, Financial and Operating Leases, Capital Markets, eTrading, Cash Management, Foreign Currency, Bancassurance, Investment Banking and Trust Services.