Grupo Cibest (NYSE:CIB) Stock Rating Lowered by Zacks Research

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

Several other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. reissued a “neutral” rating and set a $110.00 price target on shares of Grupo Cibest in a research report on Wednesday, September 16th. Weiss Ratings raised shares of Grupo Cibest from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Royal Bank Of Canada set a $110.00 price objective on shares of Grupo Cibest in a report on Tuesday, August 11th. The Goldman Sachs Group boosted their target price on shares of Grupo Cibest from $98.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Finally, Citigroup raised shares of Grupo Cibest from a “hold” rating to a “buy” rating in a report on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Grupo Cibest presently has a consensus rating of “Hold” and a consensus price target of $90.83.

Grupo Cibest Stock Up 0.5%

NYSE:CIB opened at $95.39 on Monday. The stock has a 50-day simple moving average of $96.88 and a 200 day simple moving average of $83.08. Grupo Cibest has a one year low of $53.34 and a one year high of $105.60. The company has a market capitalization of $22.64 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 0.72 and a beta of 0.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.99 and a current ratio of 0.99.

Grupo Cibest (NYSE:CIB) last released its earnings results on Monday, August 10th. The bank reported $3.32 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $1.18. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.40 billion. Grupo Cibest had a return on equity of 20.87% and a net margin of 10.80%. Sell-side analysts predict that Grupo Cibest will post 10.87 EPS for the current fiscal year.

Institutional Trading of Grupo Cibest

Institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new position in Grupo Cibest during the 2nd quarter worth $79,000. SG Americas Securities LLC acquired a new stake in Grupo Cibest in the first quarter worth $131,000. Strategic Investment Advisors MI acquired a new stake in Grupo Cibest in the first quarter worth $134,000. V Square Quantitative Management LLC lifted its stake in Grupo Cibest by 24.0% in the first quarter. V Square Quantitative Management LLC now owns 2,492 shares of the bank’s stock valued at $181,000 after buying an additional 482 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in Grupo Cibest in the second quarter valued at $206,000.

About Grupo Cibest

Grupo Cibest SA is a Colombia-based financial services holding company formerly known as Bancolombia SA The company operates through a diversified financial-services platform focused on serving individuals, businesses, corporations and institutional clients.

Its businesses include commercial and consumer banking, savings and checking accounts, lending, credit cards, payments, leasing, investment banking, brokerage, fiduciary services, asset management and insurance. Through its subsidiaries and digital channels, Grupo Cibest provides financial products and services to retail customers, small and midsize businesses, and large corporations.

The company has its principal operations in Colombia and a broader presence in Central America, including Panama, Guatemala and El Salvador.