Grupo Cibest's (CIB) Neutral Rating Reiterated at JPMorgan Chase & Co.

Key Points

• JPMorgan reiterated a “Neutral” rating on Grupo Cibest and maintained a $110 price target, implying approximately 11.93% upside from the current price.
• Analyst sentiment remains mixed but leans toward “Hold”, with a consensus target price of $90.83; recent firms including Goldman Sachs and Citigroup raised their ratings or targets.
• Grupo Cibest reported quarterly EPS of $3.32, beating estimates of $2.14, while revenue of $2.31 billion came in below the $2.40 billion consensus forecast.

Grupo Cibest (NYSE:CIB - Get Free Report)'s stock had its "neutral" rating reiterated by research analysts at JPMorgan Chase & Co. in a research report issued on Wednesday, Benzinga reports. They presently have a $110.00 price target on the bank's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 11.93% from the company's current price.

CIB has been the subject of a number of other reports. The Goldman Sachs Group upped their price target on shares of Grupo Cibest from $98.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Weiss Ratings upgraded shares of Grupo Cibest from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 18th. Bank of America raised shares of Grupo Cibest from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $68.00 to $75.00 in a report on Monday, June 1st. Zacks Research upgraded Grupo Cibest from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 17th. Finally, Citigroup raised Grupo Cibest from a "hold" rating to a "buy" rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Grupo Cibest currently has an average rating of "Hold" and a consensus target price of $90.83.

Grupo Cibest Stock Down 2.4%

CIB stock opened at $98.27 on Wednesday. Grupo Cibest has a twelve month low of $50.72 and a twelve month high of $105.60. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.18. The stock has a market cap of $23.32 billion, a P/E ratio of 19.16, a PEG ratio of 0.77 and a beta of 0.65. The business's 50-day moving average price is $93.31 and its 200-day moving average price is $79.50.

Grupo Cibest (NYSE:CIB - Get Free Report) last released its earnings results on Monday, August 10th. The bank reported $3.32 earnings per share (EPS) 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 company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.40 billion. On average, equities research analysts forecast that Grupo Cibest will post 10.87 EPS for the current year.

Hedge Funds Weigh In On Grupo Cibest

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its holdings in Grupo Cibest by 9.1% in the 1st quarter. Bank of America Corp DE now owns 516,834 shares of the bank's stock valued at $37,631,000 after acquiring an additional 43,126 shares during the last quarter. Amundi boosted its holdings in shares of Grupo Cibest by 26.7% during the 1st quarter. Amundi now owns 495,535 shares of the bank's stock valued at $36,080,000 after purchasing an additional 104,280 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Grupo Cibest by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 434,635 shares of the bank's stock valued at $31,599,000 after purchasing an additional 2,132 shares in the last quarter. Blue Grotto Capital LLC increased its holdings in shares of Grupo Cibest by 7.1% in the fourth quarter. Blue Grotto Capital LLC now owns 382,023 shares of the bank's stock worth $24,300,000 after purchasing an additional 25,466 shares during the last quarter. Finally, Capital Wealth Planning LLC increased its holdings in shares of Grupo Cibest by 7.5% in the fourth quarter. Capital Wealth Planning LLC now owns 306,071 shares of the bank's stock worth $19,344,000 after purchasing an additional 21,428 shares during the last quarter.

About Grupo Cibest

Grupo Cibest SA is a Colombian financial holding company formerly known as Bancolombia SA Through its subsidiaries, the group provides banking, payments, investment, insurance and other financial services to individuals, businesses and institutional customers.

Its principal banking operations are conducted through Bancolombia, which offers checking and savings accounts, consumer and commercial lending, mortgages, credit and debit cards, cash management, investment products and digital banking services.

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