Grupo Cibest (NYSE:CIB) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Grupo Cibest (NYSE:CIB) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $48.00 to $65.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 7.49% from the company’s current price.

Other research analysts have also issued research reports about the company. Bank of America reissued an “underperform” rating on shares of Grupo Cibest in a research note on Thursday, September 11th. Zacks Research raised shares of Grupo Cibest from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of Grupo Cibest in a research report on Monday. Finally, Citigroup reaffirmed a “buy” rating on shares of Grupo Cibest in a report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $48.00.

Grupo Cibest Price Performance

Shares of CIB traded down $1.07 during trading hours on Friday, reaching $60.47. The company had a trading volume of 69,594 shares, compared to its average volume of 370,043. Grupo Cibest has a 12-month low of $31.19 and a 12-month high of $65.00. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $14.54 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 1.13 and a beta of 0.95. The firm has a 50 day simple moving average of $56.07 and a 200-day simple moving average of $49.00.

Hedge Funds Weigh In On Grupo Cibest

Institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its position in shares of Grupo Cibest by 62.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 142,018 shares of the bank’s stock valued at $5,709,000 after acquiring an additional 54,497 shares in the last quarter. Aberdeen Group plc purchased a new stake in shares of Grupo Cibest in the first quarter valued at $201,000. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Grupo Cibest during the second quarter valued at $383,000. Banco BTG Pactual S.A. acquired a new position in Grupo Cibest during the first quarter valued at $611,000. Finally, Raymond James Financial Inc. boosted its position in Grupo Cibest by 22.5% during the 1st quarter. Raymond James Financial Inc. now owns 120,682 shares of the bank’s stock worth $4,851,000 after acquiring an additional 22,158 shares during the period.

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.