Grupo Cibest (NYSE:CIB) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Grupo Cibest to “buy,” while overall analyst sentiment remains “Hold,” with three Buy, five Hold, and one Sell rating and a consensus price target of $90.83.
• Grupo Cibest shares opened at $97.85, near the upper end of their 12-month range of $53.34 to $105.60. The company recently reported quarterly EPS of $3.32, exceeding the $2.14 consensus estimate, although revenue came in below expectations.
• Institutional investors increased their positions in Grupo Cibest, including Amundi, Assetmark, and ABN Amro Investment Solutions, while the company continues operating as a diversified financial-services provider across Colombia and Central America.

Grupo Cibest (NYSE:CIB - Get Free Report) was upgraded by Wall Street Zen to a "buy" rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other brokerages have also weighed in on CIB. Zacks Research lowered shares of Grupo Cibest from a "strong-buy" rating to a "hold" rating in a report on Monday, October 12th. The Goldman Sachs Group upped their price objective on Grupo Cibest from $98.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Royal Bank Of Canada set a $110.00 target price on Grupo Cibest in a research report on Tuesday, August 11th. Citigroup upgraded Grupo Cibest from a "hold" rating to a "buy" rating in a report on Thursday, August 13th. Finally, Weiss Ratings upgraded Grupo Cibest from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $90.83.

Grupo Cibest Stock Up 0.2%

CIB opened at $97.85 on Friday. Grupo Cibest has a 12 month low of $53.34 and a 12 month high of $105.60. The business has a 50-day moving average of $97.35 and a two-hundred day moving average of $83.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $23.22 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 0.74 and a beta of 0.67.

Grupo Cibest (NYSE:CIB - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The bank reported $3.32 earnings per share for the quarter, topping the consensus estimate of $2.14 by $1.18. Grupo Cibest had a net margin of 10.80% and a return on equity of 20.87%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.40 billion. On average, research analysts expect that Grupo Cibest will post 10.87 earnings per share for the current year.

Institutional Investors Weigh In On Grupo Cibest

Institutional investors and hedge funds have recently modified their holdings of the stock. Amundi boosted its position in Grupo Cibest by 26.7% in the 1st quarter. Amundi now owns 495,535 shares of the bank's stock valued at $36,080,000 after buying an additional 104,280 shares during the last quarter. Assetmark Inc. increased its position in shares of Grupo Cibest by 46,580.9% during the first quarter. Assetmark Inc. now owns 95,229 shares of the bank's stock worth $6,934,000 after acquiring an additional 95,025 shares during the last quarter. Nykredit A S purchased a new stake in shares of Grupo Cibest during the second quarter worth about $5,589,000. Lesa Sroufe & Co acquired a new position in shares of Grupo Cibest in the first quarter worth about $4,851,000. Finally, ABN Amro Investment Solutions lifted its stake in shares of Grupo Cibest by 36.3% in the first quarter. ABN Amro Investment Solutions now owns 249,345 shares of the bank's stock worth $18,155,000 after acquiring an additional 66,400 shares in the last quarter.

Grupo Cibest Company Profile

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.

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