Grupo Cibest (NYSE:CIB) Lowered to “Underperform” Rating by Itau BBA Securities

Itau BBA Securities lowered shares of Grupo Cibest (NYSE:CIB) from a market perform rating to an underperform rating in a report released on Thursday morning, Marketbeat reports. Itau BBA Securities currently has $68.00 target price on the bank’s stock.

A number of other research firms have also recently weighed in on CIB. Weiss Ratings restated a “buy (b-)” rating on shares of Grupo Cibest in a research note on Monday, December 29th. Zacks Research downgraded Grupo Cibest from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. increased their target price on Grupo Cibest from $48.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, November 21st. Citigroup cut Grupo Cibest from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. Finally, The Goldman Sachs Group increased their price objective on shares of Grupo Cibest from $69.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $59.20.

Grupo Cibest Trading Down 7.2%

Grupo Cibest stock opened at $69.02 on Thursday. Grupo Cibest has a 12-month low of $35.44 and a 12-month high of $86.31. The firm has a market capitalization of $16.60 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 1.29 and a beta of 0.79. The firm has a 50 day moving average of $74.07 and a 200 day moving average of $62.26. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.26.

Institutional Investors Weigh In On Grupo Cibest

A number of hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in Grupo Cibest by 22.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 939,979 shares of the bank’s stock valued at $43,418,000 after buying an additional 173,734 shares during the period. Allianz Asset Management GmbH increased its position in Grupo Cibest by 25.1% during the third quarter. Allianz Asset Management GmbH now owns 222,803 shares of the bank’s stock valued at $11,572,000 after acquiring an additional 44,666 shares during the last quarter. Coldstream Capital Management Inc. increased its position in Grupo Cibest by 790.9% during the second quarter. Coldstream Capital Management Inc. now owns 5,372 shares of the bank’s stock valued at $248,000 after acquiring an additional 4,769 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Grupo Cibest by 20.1% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 78,130 shares of the bank’s stock valued at $4,058,000 after acquiring an additional 13,078 shares during the period. Finally, Blue Grotto Capital LLC lifted its holdings in shares of Grupo Cibest by 73.1% in the 2nd quarter. Blue Grotto Capital LLC now owns 350,111 shares of the bank’s stock worth $16,172,000 after acquiring an additional 147,801 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.