Grupo Cibest (NYSE:CIB) Cut to “Hold” at Zacks Research

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

Other analysts have also recently issued reports about the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Grupo Cibest in a report on Monday, December 29th. Santander lowered shares of Grupo Cibest to an “underperform” rating in a research note on Wednesday, December 17th. Citigroup downgraded Grupo Cibest from a “buy” rating to a “neutral” rating in a research report on Wednesday. The Goldman Sachs Group upgraded Grupo Cibest from a “sell” rating to a “neutral” rating and increased their target price for the company from $49.00 to $69.00 in a report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. lifted their target price on Grupo Cibest from $48.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, November 21st. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $54.80.

Grupo Cibest Stock Up 3.3%

Shares of NYSE CIB opened at $79.61 on Tuesday. The stock’s 50-day simple moving average is $65.49 and its 200-day simple moving average is $56.14. Grupo Cibest has a 1 year low of $32.21 and a 1 year high of $79.80. The firm has a market cap of $19.14 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 0.96 and a beta of 0.81. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00.

Institutional Trading of Grupo Cibest

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its holdings in Grupo Cibest by 22.7% in the second quarter. JPMorgan Chase & Co. now owns 939,979 shares of the bank’s stock valued at $43,418,000 after buying an additional 173,734 shares during the period. Coldstream Capital Management Inc. boosted its position in shares of Grupo Cibest by 790.9% in the 2nd quarter. Coldstream Capital Management Inc. now owns 5,372 shares of the bank’s stock worth $248,000 after purchasing an additional 4,769 shares during the last quarter. Blue Grotto Capital LLC grew its stake in shares of Grupo Cibest by 73.1% during the second quarter. Blue Grotto Capital LLC now owns 350,111 shares of the bank’s stock worth $16,172,000 after purchasing an additional 147,801 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new stake in Grupo Cibest in the second quarter valued at about $383,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Grupo Cibest by 6.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,133,425 shares of the bank’s stock worth $52,353,000 after buying an additional 72,119 shares during 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.