The Goldman Sachs Group Forecasts Strong Price Appreciation for Grupo Cibest (NYSE:CIB) Stock

Grupo Cibest (NYSE:CIB) had its target price hoisted by The Goldman Sachs Group from $71.00 to $81.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 0.73% from the company’s previous close.

Several other research firms also recently issued reports on CIB. Itau BBA Securities raised Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research note on Tuesday, May 26th. Bank of America upgraded shares of Grupo Cibest from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $68.00 to $75.00 in a research report on Monday, June 1st. Weiss Ratings lowered shares of Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, April 24th. UBS Group upped their price target on shares of Grupo Cibest from $52.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Grupo Cibest from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. Eight equities 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 $73.20.

Grupo Cibest Price Performance

Shares of CIB opened at $80.41 on Thursday. Grupo Cibest has a 12-month low of $43.20 and a 12-month high of $87.68. The business has a 50-day simple moving average of $74.91 and a two-hundred day simple moving average of $73.51. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.20. The stock has a market cap of $19.08 billion, a PE ratio of 22.34, a PEG ratio of 0.91 and a beta of 0.67.

Grupo Cibest (NYSE:CIB) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $2.04 billion. Analysts anticipate that Grupo Cibest will post 8.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CIB. Itau Unibanco Holding S.A. increased its holdings in Grupo Cibest by 164.5% in the fourth quarter. Itau Unibanco Holding S.A. now owns 651,368 shares of the bank’s stock worth $41,523,000 after purchasing an additional 405,098 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Grupo Cibest by 527.0% during the 1st quarter. Millennium Management LLC now owns 316,877 shares of the bank’s stock worth $12,738,000 after buying an additional 266,341 shares in the last quarter. Earnest Partners LLC boosted its holdings 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 buying an additional 218,359 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Grupo Cibest during the 4th quarter worth approximately $12,761,000. Finally, Sei Investments Co. grew its position in shares of 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 period.

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.