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

Grupo Cibest (NYSE:CIB) was upgraded by stock analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage currently has a $75.00 price target on the bank’s stock. Bank of America‘s target price indicates a potential downside of 2.62% from the stock’s previous close.

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

Grupo Cibest Trading Up 12.3%

Shares of Grupo Cibest stock traded up $8.43 during trading on Monday, hitting $77.02. The company’s stock had a trading volume of 229,300 shares, compared to its average volume of 423,371. The stock has a market cap of $18.28 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 1.05 and a beta of 0.70. Grupo Cibest has a 52 week low of $41.42 and a 52 week high of $86.31. The stock has a 50-day moving average price of $69.91 and a two-hundred day moving average price of $69.71. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.98 and a quick ratio of 0.98.

Grupo Cibest (NYSE:CIB) last announced its earnings results on Monday, May 4th. The bank reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.22). Grupo Cibest had a return on equity of 21.07% and a net margin of 8.41%.The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $2.04 billion. Equities research analysts anticipate that Grupo Cibest will post 8.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Grupo Cibest

A number of large investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new stake in Grupo Cibest during the fourth quarter worth about $31,000. Arax Advisory Partners raised its holdings in shares of Grupo Cibest by 2,525.0% during the 4th quarter. Arax Advisory Partners now owns 525 shares of the bank’s stock valued at $33,000 after buying an additional 505 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Grupo Cibest by 105.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank’s stock worth $35,000 after buying an additional 280 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new stake in Grupo Cibest in the fourth quarter worth approximately $43,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Grupo Cibest by 89.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 753 shares of the bank’s stock worth $48,000 after buying an additional 355 shares in 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.