Grupo Cibest (NYSE:CIB) Cut to Hold at Zacks Research

Zacks Research lowered shares of Grupo Cibest (NYSE:CIB) from a strong-buy rating to a hold rating in a research report report published on Tuesday,Zacks.com reports.

A number of other research firms also recently issued reports on CIB. The Goldman Sachs Group upgraded shares of Grupo Cibest from a “sell” rating to a “neutral” rating and boosted their target price for the company from $49.00 to $69.00 in a research report on Tuesday, January 13th. JPMorgan Chase & Co. lifted their price target on shares of Grupo Cibest from $48.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, November 21st. Santander cut shares of Grupo Cibest to an “underperform” rating in a research report on Wednesday, December 17th. Citigroup downgraded Grupo Cibest from a “buy” rating to a “neutral” rating in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Grupo Cibest in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Grupo Cibest has a consensus rating of “Hold” and a consensus price target of $54.80.

Grupo Cibest Price Performance

Shares of CIB opened at $78.70 on Tuesday. Grupo Cibest has a 52-week low of $33.01 and a 52-week high of $80.17. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. The business’s 50 day moving average price is $65.81 and its two-hundred day moving average price is $56.30. The firm has a market cap of $18.92 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 0.99 and a beta of 0.81.

Institutional Trading of Grupo Cibest

Several institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC lifted its holdings in shares of Grupo Cibest by 527.0% in the first quarter. Millennium Management LLC now owns 316,877 shares of the bank’s stock valued at $12,738,000 after purchasing an additional 266,341 shares in the last quarter. Goldman Sachs Group Inc. lifted 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 valued at $5,709,000 after acquiring an additional 54,497 shares in the last quarter. Ballentine Partners LLC lifted its stake in Grupo Cibest by 5.2% during the 2nd quarter. Ballentine Partners LLC now owns 16,074 shares of the bank’s stock valued at $742,000 after acquiring an additional 795 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Grupo Cibest by 2.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 88,337 shares of the bank’s stock worth $4,080,000 after acquiring an additional 2,519 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Grupo Cibest in the 2nd quarter worth $383,000.

About Grupo Cibest

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.