Envestnet Asset Management Inc. Trims Stock Position in Grupo Cibest S.A. – Sponsored ADR $CIB

Envestnet Asset Management Inc. cut its holdings in Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) by 4.0% during the 2nd quarter, Holdings Channel reports. The firm owned 34,162 shares of the bank’s stock after selling 1,421 shares during the period. Envestnet Asset Management Inc.’s holdings in Grupo Cibest were worth $1,578,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Allianz Asset Management GmbH lifted its stake in Grupo Cibest by 106.7% in the 1st quarter. Allianz Asset Management GmbH now owns 94,386 shares of the bank’s stock valued at $3,794,000 after buying an additional 48,728 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Grupo Cibest by 15.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 135,528 shares of the bank’s stock valued at $5,448,000 after acquiring an additional 17,755 shares in the last quarter. RWC Asset Advisors US LLC acquired a new stake in shares of Grupo Cibest during the first quarter valued at $1,572,000. RWC Asset Management LLP purchased a new stake in Grupo Cibest during the 1st quarter worth about $12,536,000. Finally, Mackenzie Financial Corp raised its stake in Grupo Cibest by 9.8% in the 1st quarter. Mackenzie Financial Corp now owns 53,111 shares of the bank’s stock valued at $2,135,000 after purchasing an additional 4,746 shares during the last quarter.

Analysts Set New Price Targets

CIB has been the topic of several analyst reports. Zacks Research raised shares of Grupo Cibest from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 24th. Citigroup restated a “buy” rating on shares of Grupo Cibest in a research report on Monday, October 20th. Bank of America reiterated an “underperform” rating on shares of Grupo Cibest in a report on Thursday, September 11th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Grupo Cibest in a report on Monday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.75.

Grupo Cibest Stock Performance

Shares of CIB stock opened at $62.96 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $15.14 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 1.13 and a beta of 0.95. Grupo Cibest S.A. – Sponsored ADR has a one year low of $31.19 and a one year high of $65.00. The company has a 50 day moving average price of $55.89 and a 200 day moving average price of $48.91.

Grupo Cibest Company Profile

Bancolombia SA, together with its subsidiaries, provides banking products and services in Colombia and internationally. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.