Grupo Cibest (NYSE:CIB) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Grupo Cibest (NYSE:CIB) had its price target increased by The Goldman Sachs Group from $71.00 to $81.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 1.73% from the stock’s previous close.

CIB has been the subject of a number of other reports. Bank of America raised shares of Grupo Cibest from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $68.00 to $75.00 in a research report on Monday, June 1st. Itau BBA Securities upgraded shares of Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. upped their price target on shares of Grupo Cibest from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, May 18th. Weiss Ratings cut Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, April 24th. Finally, UBS Group upped their target price on Grupo Cibest from $52.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Eight research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $73.20.

Grupo Cibest Stock Performance

Shares of NYSE:CIB traded down $1.93 on Thursday, hitting $79.62. 103,227 shares of the company were exchanged, compared to its average volume of 421,204. The firm has a market capitalization of $18.90 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 0.94 and a beta of 0.67. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.20. Grupo Cibest has a 1-year low of $43.20 and a 1-year high of $87.68. The stock’s 50 day moving average price is $74.33 and its 200 day moving average price is $73.36.

Grupo Cibest (NYSE:CIB) last issued its quarterly earnings results on Monday, May 4th. The bank reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.22). The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $2.04 billion. Grupo Cibest had a return on equity of 21.07% and a net margin of 8.41%. Sell-side analysts predict that Grupo Cibest will post 8.87 EPS for the current year.

Hedge Funds Weigh In On Grupo Cibest

Hedge funds have recently bought and sold shares of the business. Millennium Management LLC raised its stake in shares of Grupo Cibest by 527.0% during the 1st quarter. Millennium Management LLC now owns 316,877 shares of the bank’s stock worth $12,738,000 after buying an additional 266,341 shares during the period. Goldman Sachs Group Inc. raised its position in Grupo Cibest by 62.3% during the first quarter. Goldman Sachs Group Inc. now owns 142,018 shares of the bank’s stock worth $5,709,000 after acquiring an additional 54,497 shares during the period. Marshall Wace LLP raised its position in Grupo Cibest by 288.4% during the second quarter. Marshall Wace LLP now owns 40,269 shares of the bank’s stock worth $1,860,000 after acquiring an additional 29,902 shares during the period. Cerity Partners LLC purchased a new position in Grupo Cibest during the second quarter valued at $349,000. Finally, Qube Research & Technologies Ltd lifted its holdings in Grupo Cibest by 158.7% during the second quarter. Qube Research & Technologies Ltd now owns 254,287 shares of the bank’s stock valued at $11,746,000 after purchasing an additional 155,985 shares in the last quarter.

Grupo Cibest Company Profile

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.