Grupo Cibest (NYSE:CIB) Stock Gets Downgrade from Zacks Research

Grupo Cibest (NYSE:CIB) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday, Zacks reports.

CIB has been the subject of a number of other research reports. Weiss Ratings raised Grupo Cibest from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. JPMorgan Chase & Co. restated a “neutral” rating and set a $110.00 target price on shares of Grupo Cibest in a report on Wednesday, September 16th. Royal Bank Of Canada set a $110.00 price target on Grupo Cibest in a research report on Tuesday, August 11th. 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 note on Thursday, August 13th. Finally, Citigroup raised Grupo Cibest from a “hold” rating to a “buy” rating in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Grupo Cibest currently has an average rating of “Hold” and a consensus price target of $90.83.

Grupo Cibest Price Performance

Shares of NYSE:CIB opened at $95.39 on Monday. The stock has a market cap of $22.64 billion, a PE ratio of 10.68, a PEG ratio of 0.72 and a beta of 0.67. The company’s fifty day moving average is $96.88 and its 200 day moving average is $83.08. Grupo Cibest has a 52 week low of $53.34 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.

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

Hedge Funds Weigh In On Grupo Cibest

A number of hedge funds have recently bought and sold shares of CIB. Bank of America Corp DE increased its stake in Grupo Cibest by 9.1% during the 1st quarter. Bank of America Corp DE now owns 516,834 shares of the bank’s stock valued at $37,631,000 after purchasing an additional 43,126 shares in the last quarter. Amundi lifted its stake in shares of Grupo Cibest by 26.7% in the first quarter. Amundi now owns 495,535 shares of the bank’s stock worth $36,080,000 after buying an additional 104,280 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Grupo Cibest by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 434,635 shares of the bank’s stock worth $31,599,000 after buying an additional 2,132 shares in the last quarter. ABN Amro Investment Solutions lifted its stake in shares of Grupo Cibest by 36.3% in the first quarter. ABN Amro Investment Solutions now owns 249,345 shares of the bank’s stock worth $18,155,000 after buying an additional 66,400 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Grupo Cibest by 46,580.9% during the first quarter. Assetmark Inc. now owns 95,229 shares of the bank’s stock valued at $6,934,000 after buying an additional 95,025 shares during the last quarter.

Grupo Cibest Company Profile

Grupo Cibest SA is a Colombia-based financial services holding company formerly known as Bancolombia SA The company operates through a diversified financial-services platform focused on serving individuals, businesses, corporations and institutional clients.

Its businesses include commercial and consumer banking, savings and checking accounts, lending, credit cards, payments, leasing, investment banking, brokerage, fiduciary services, asset management and insurance. Through its subsidiaries and digital channels, Grupo Cibest provides financial products and services to retail customers, small and midsize businesses, and large corporations.

The company has its principal operations in Colombia and a broader presence in Central America, including Panama, Guatemala and El Salvador.