JPMorgan Chase & Co. Issues Positive Forecast for Grupo Cibest (NYSE:CIB) Stock Price

Grupo Cibest (NYSE:CIB) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $65.00 to $70.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 10.70% from the stock’s current price.

A number of other research analysts have also recently weighed in on CIB. The Goldman Sachs Group lifted their price target on shares of Grupo Cibest from $69.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Citigroup lowered shares of Grupo Cibest from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. Weiss Ratings cut shares of Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. Zacks Research lowered Grupo Cibest from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, Itau BBA Securities downgraded Grupo Cibest from a “market perform” rating to an “underperform” rating and set a $68.00 target price for the company. in a research report on Thursday, February 26th. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $67.00.

Grupo Cibest Trading Up 0.1%

CIB stock traded up $0.08 during trading on Monday, reaching $63.24. 5,722 shares of the stock traded hands, compared to its average volume of 426,484. The firm has a market capitalization of $15.21 billion, a PE ratio of 17.51, a P/E/G ratio of 0.92 and a beta of 0.71. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.03 and a quick ratio of 1.03. The business’s 50 day moving average price is $69.94 and its 200-day moving average price is $69.15. Grupo Cibest has a 52-week low of $40.28 and a 52-week high of $86.31.

Grupo Cibest (NYSE:CIB) last released its quarterly earnings data on Monday, May 4th. The bank reported $1.62 earnings per share 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 23.86%. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $2.04 billion. As a group, sell-side analysts forecast that Grupo Cibest will post 9.07 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Ieq Capital LLC grew its stake in Grupo Cibest by 2.6% during the 4th quarter. Ieq Capital LLC now owns 7,961 shares of the bank’s stock valued at $506,000 after purchasing an additional 205 shares in the last quarter. Signaturefd LLC raised its position in shares of Grupo Cibest by 5.3% in the 4th quarter. Signaturefd LLC now owns 4,905 shares of the bank’s stock valued at $312,000 after purchasing an additional 248 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Grupo Cibest by 105.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank’s stock valued at $35,000 after buying an additional 280 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of Grupo Cibest by 2.1% during the 4th quarter. Ballentine Partners LLC now owns 16,229 shares of the bank’s stock valued at $1,032,000 after buying an additional 332 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Grupo Cibest by 89.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 753 shares of the bank’s stock worth $48,000 after buying an additional 355 shares in the last quarter.

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.