Grupo Cibest (NYSE:CIB – Get Free Report) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Tuesday,Benzinga reports. The firm presently has a $110.00 price target on the bank’s stock, up from their prior price target of $70.00. JPMorgan Chase & Co.‘s price target points to a potential upside of 20.05% from the stock’s previous close.
A number of other research analysts have also commented on CIB. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Grupo Cibest in a research report on Tuesday, July 21st. Zacks Research raised Grupo Cibest from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. UBS Group increased 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. Bank of America upgraded shares of Grupo Cibest from an “underperform” rating to a “neutral” rating and upped their target price for the company from $68.00 to $75.00 in a research note on Monday, June 1st. Finally, The Goldman Sachs Group upgraded Grupo Cibest from a “neutral” rating to a “buy” rating and raised their price target for the stock from $81.00 to $98.00 in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $88.83.
Read Our Latest Stock Report on CIB
Grupo Cibest Stock Performance
Grupo Cibest (NYSE:CIB – Get Free Report) last issued 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. Grupo Cibest had a return on equity of 21.07% and a net margin of 8.41%. On average, equities analysts forecast that Grupo Cibest will post 8.87 EPS for the current year.
Institutional Trading of Grupo Cibest
Institutional investors and hedge funds have recently bought and sold shares of the stock. Arax Advisory Partners lifted its stake in Grupo Cibest by 2,525.0% in the 4th quarter. Arax Advisory Partners now owns 525 shares of the bank’s stock worth $33,000 after purchasing an additional 505 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Grupo Cibest by 105.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank’s stock worth $35,000 after purchasing an additional 280 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new stake in shares of Grupo Cibest in the fourth quarter worth about $43,000. Tower Research Capital LLC TRC boosted its stake in Grupo Cibest by 796.3% during the second quarter. Tower Research Capital LLC TRC now owns 977 shares of the bank’s stock valued at $45,000 after buying an additional 868 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Grupo Cibest by 89.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 753 shares of the bank’s stock valued at $48,000 after buying an additional 355 shares in 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.
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