Grupo Cibest (NYSE:CIB) Raised to Neutral at Bank of America

Grupo Cibest (NYSE:CIB) was upgraded by equities researchers at Bank of America from an “underperform” rating to a “neutral” rating in a report released on Monday, Marketbeat Ratings reports. The firm currently has a $75.00 target price on the bank’s stock. Bank of America‘s target price would indicate a potential downside of 2.62% from the stock’s previous close.

Several other equities analysts have also issued reports on CIB. Itau BBA Securities raised Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research report on Tuesday, May 26th. Weiss Ratings lowered shares of Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. raised their target price on Grupo Cibest from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. The Goldman Sachs Group lifted their price target on shares of Grupo Cibest from $69.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Finally, UBS Group upped their price objective on Grupo Cibest from $52.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Eight research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Grupo Cibest has a consensus rating of “Reduce” and an average price target of $72.20.

Grupo Cibest Stock Up 12.3%

Shares of CIB stock traded up $8.43 during midday trading on Monday, reaching $77.02. 229,300 shares of the stock were exchanged, compared to its average volume of 423,371. The company’s 50 day moving average is $69.91 and its two-hundred day moving average is $69.71. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.20. The firm has a market cap of $18.28 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 1.05 and a beta of 0.70. Grupo Cibest has a 1 year low of $41.42 and a 1 year high of $86.31.

Grupo Cibest (NYSE:CIB) last announced its quarterly earnings data on Monday, May 4th. The bank reported $1.62 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.22). Grupo Cibest had a net margin of 8.41% and a return on equity of 21.07%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $2.04 billion. On average, equities research analysts predict that Grupo Cibest will post 8.62 EPS for the current year.

Hedge Funds Weigh In On Grupo Cibest

A number of large investors have recently bought and sold shares of CIB. Vanguard Group Inc. boosted its stake in shares of Grupo Cibest by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 3,089,670 shares of the bank’s stock valued at $196,534,000 after purchasing an additional 67,986 shares during the period. Earnest Partners LLC lifted its stake in shares of Grupo Cibest by 8.8% during the 4th quarter. Earnest Partners LLC now owns 2,697,747 shares of the bank’s stock worth $171,604,000 after purchasing an additional 218,359 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Grupo Cibest by 4.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 980,426 shares of the bank’s stock valued at $50,923,000 after buying an additional 40,447 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Grupo Cibest in the third quarter valued at approximately $44,920,000. Finally, Sei Investments Co. grew its stake in Grupo Cibest by 29.8% during the 2nd quarter. Sei Investments Co. now owns 863,718 shares of the bank’s stock worth $39,895,000 after buying an additional 198,228 shares during the last quarter.

Grupo Cibest Company Profile

Bancolombia SA (NYSE: CIB) is a leading financial institution in Colombia, offering a comprehensive suite of banking and financial services. As one of the largest universal banks in the country, the company provides retail and commercial banking, corporate and investment banking, treasury services, and wealth management solutions. Through its extensive branch network and digital platforms, Bancolombia serves individual clients, small and medium enterprises, and large corporations, focusing on convenience, innovation and customer experience.

In addition to traditional banking, Bancolombia’s product portfolio includes insurance, pension fund management, leasing, factoring, brokerage and asset management.