Grupo Cibest (NYSE:CIB) Price Target Raised to $65.00

Grupo Cibest (NYSE:CIB) had its price objective hoisted by equities research analysts at JPMorgan Chase & Co. from $48.00 to $65.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 7.49% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Citigroup restated a “buy” rating on shares of Grupo Cibest in a research note on Monday, October 20th. Zacks Research raised shares of Grupo Cibest from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 24th. Weiss Ratings restated a “buy (b-)” rating on shares of Grupo Cibest in a research report on Monday. Finally, Bank of America restated an “underperform” rating on shares of Grupo Cibest in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $48.00.

Grupo Cibest Stock Performance

Shares of Grupo Cibest stock traded down $1.07 during midday trading on Friday, hitting $60.47. The company had a trading volume of 69,594 shares, compared to its average volume of 370,043. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $14.54 billion, a PE ratio of 9.17, a P/E/G ratio of 1.13 and a beta of 0.95. The business’s 50 day simple moving average is $56.07 and its two-hundred day simple moving average is $49.00. Grupo Cibest has a 1-year low of $31.19 and a 1-year high of $65.00.

Hedge Funds Weigh In On Grupo Cibest

Several institutional investors have recently modified their holdings of CIB. Goldman Sachs Group Inc. increased its stake in Grupo Cibest by 62.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 142,018 shares of the bank’s stock worth $5,709,000 after purchasing an additional 54,497 shares in the last quarter. Aberdeen Group plc bought a new stake in shares of Grupo Cibest during the first quarter worth $201,000. Patriot Financial Group Insurance Agency LLC bought a new stake in Grupo Cibest in the 2nd quarter valued at $383,000. Banco BTG Pactual S.A. acquired a new position in Grupo Cibest in the 1st quarter worth $611,000. Finally, Raymond James Financial Inc. increased its holdings in Grupo Cibest by 22.5% during the 1st quarter. Raymond James Financial Inc. now owns 120,682 shares of the bank’s stock worth $4,851,000 after purchasing an additional 22,158 shares in the last quarter.

About Grupo Cibest

Bancolombia SA, 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.