JPMorgan Chase & Co. Reaffirms Neutral Rating for Grupo Cibest (NYSE:CIB)

Grupo Cibest (NYSE:CIB)‘s stock had its “neutral” rating reissued by research analysts at JPMorgan Chase & Co. in a research report issued on Wednesday, Benzinga reports. They currently have a $110.00 price objective on the bank’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 11.93% from the company’s previous close.

Several other research firms have also commented on CIB. The Goldman Sachs Group lifted their price target on Grupo Cibest from $98.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Citigroup raised Grupo Cibest from a “hold” rating to a “buy” rating in a research note on Thursday, August 13th. Itau BBA Securities upgraded Grupo Cibest from a “strong sell” rating to a “market perform” rating in a report on Tuesday, May 26th. Weiss Ratings raised Grupo Cibest from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 18th. Finally, Zacks Research upgraded Grupo Cibest from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $90.83.

Grupo Cibest Price Performance

Grupo Cibest stock opened at $98.27 on Wednesday. Grupo Cibest has a 52-week low of $50.72 and a 52-week high of $105.60. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.18. The firm’s fifty day moving average is $93.31 and its 200 day moving average is $79.50. The company has a market cap of $23.32 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 0.77 and a beta of 0.65.

Grupo Cibest (NYSE:CIB) last posted its earnings results on Monday, August 10th. The bank reported $3.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $1.18. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.40 billion. Grupo Cibest had a net margin of 10.80% and a return on equity of 20.87%. Sell-side analysts forecast that Grupo Cibest will post 10.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Grupo Cibest

A number of institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new position in Grupo Cibest during the 2nd quarter valued at $79,000. SG Americas Securities LLC purchased a new stake in Grupo Cibest in the first quarter worth $131,000. Strategic Investment Advisors MI purchased a new stake in Grupo Cibest in the first quarter worth $134,000. V Square Quantitative Management LLC lifted its position in shares of Grupo Cibest by 24.0% during the first quarter. V Square Quantitative Management LLC now owns 2,492 shares of the bank’s stock worth $181,000 after purchasing an additional 482 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Grupo Cibest by 688.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,140 shares of the bank’s stock worth $200,000 after purchasing an additional 2,742 shares during the last quarter.

Grupo Cibest Company Profile

Grupo Cibest SA is a Colombian financial holding company formerly known as Bancolombia SA Through its subsidiaries, the group provides banking, payments, investment, insurance and other financial services to individuals, businesses and institutional customers.

Its principal banking operations are conducted through Bancolombia, which offers checking and savings accounts, consumer and commercial lending, mortgages, credit and debit cards, cash management, investment products and digital banking services.