Wall Street Zen Upgrades Grupo Cibest (NYSE:CIB) to Buy

Grupo Cibest (NYSE:CIB) was upgraded by stock analysts at Wall Street Zen to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $110.00 price target on shares of Grupo Cibest in a report on Wednesday, September 16th. Citigroup upgraded shares of Grupo Cibest from a “hold” rating to a “buy” rating in a research note on Thursday, August 13th. Royal Bank Of Canada set a $110.00 price objective on shares of Grupo Cibest in a research note on Tuesday, August 11th. Zacks Research cut shares of Grupo Cibest from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. Finally, Weiss Ratings upgraded Grupo Cibest from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $90.83.

Grupo Cibest Stock Performance

Shares of CIB opened at $97.85 on Friday. The stock has a market capitalization of $23.22 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 0.75 and a beta of 0.67. The business’s fifty day moving average price is $97.35 and its 200 day moving average price is $83.66. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.99 and a quick ratio of 0.99. Grupo Cibest has a 12-month low of $53.34 and a 12-month high of $105.60.

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

Institutional Investors Weigh In On Grupo Cibest

A number of hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC increased its holdings in shares of Grupo Cibest by 24.0% in the 1st quarter. V Square Quantitative Management LLC now owns 2,492 shares of the bank’s stock worth $181,000 after acquiring an additional 482 shares during the period. Mather Group LLC. bought a new stake in Grupo Cibest in the 3rd quarter valued at about $60,000. PNC Financial Services Group Inc. boosted its stake in Grupo Cibest by 5.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 13,596 shares of the bank’s stock valued at $990,000 after purchasing an additional 677 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Grupo Cibest during the 2nd quarter valued at about $79,000. Finally, QRG Capital Management Inc. grew its position in Grupo Cibest by 6.5% in the 2nd quarter. QRG Capital Management Inc. now owns 17,479 shares of the bank’s stock worth $1,388,000 after purchasing an additional 1,070 shares during the last quarter.

Grupo Cibest Company Profile

Grupo Cibest SA is a Colombia-based financial services holding company whose principal business is conducted through Bancolombia and related subsidiaries. The group provides banking and financial solutions to individuals, businesses, institutions and governments, with activities spanning commercial banking, consumer finance, corporate banking, investment banking, wealth management, insurance and payments.

Its offerings include deposit accounts, loans, credit cards, cash-management services, investment products, trust and fiduciary services, foreign-exchange solutions and digital financial tools.