Grupo Cibest (NYSE:CIB) Upgraded at JPMorgan Chase & Co.

Key Points

• JPMorgan upgraded Grupo Cibest from “neutral” to “overweight” and raised its price target from $70 to $110, implying about 20% upside from the prior close.
• Shares traded up 3.1% to $91.63, near the company’s 52-week high of $94.21. Grupo Cibest recently reported quarterly EPS of $3.32, beating the $2.14 consensus estimate.
• Analyst sentiment remains mixed overall: the stock carries a consensus “Hold” rating and an average price target of $88.83, despite upgrades from Zacks Research and Goldman Sachs.

Grupo Cibest (NYSE:CIB - Get Free Report) was upgraded by equities research analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a $110.00 price objective on the bank's stock, up from their prior price objective of $70.00. JPMorgan Chase & Co.'s price objective suggests a potential upside of 20.05% from the company's previous close.

CIB has been the topic of several other research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Grupo Cibest in a research report on Tuesday, July 21st. Zacks Research upgraded Grupo Cibest from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 17th. UBS Group boosted their price target on shares of Grupo Cibest from $52.00 to $72.00 and gave the stock a "neutral" rating in a report on Thursday, April 23rd. The Goldman Sachs Group upgraded shares of Grupo Cibest from a "neutral" rating to a "buy" rating and increased their price target for the company from $81.00 to $98.00 in a research report on Tuesday, July 28th. Finally, Bank of America upgraded shares of Grupo Cibest from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $68.00 to $75.00 in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $88.83.

Grupo Cibest Trading Up 3.1%

Shares of CIB stock opened at $91.63 on Tuesday. Grupo Cibest has a 52-week low of $46.93 and a 52-week high of $94.21. The company has a 50-day simple moving average of $81.93 and a two-hundred day simple moving average of $75.68. The company has a market capitalization of $21.74 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 1.01 and a beta of 0.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.98 and a current ratio of 0.98.

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, 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%. Research analysts anticipate that Grupo Cibest will post 8.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Arax Advisory Partners boosted its holdings in shares of Grupo Cibest by 2,525.0% in the fourth quarter. Arax Advisory Partners now owns 525 shares of the bank's stock worth $33,000 after acquiring an additional 505 shares during the period. Smartleaf Asset Management LLC grew its holdings in Grupo Cibest by 105.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank's stock valued at $35,000 after buying an additional 280 shares in the last quarter. TD Waterhouse Canada Inc. bought a new stake in shares of Grupo Cibest during the fourth quarter valued at about $43,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Grupo Cibest by 89.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 753 shares of the bank's stock valued at $48,000 after acquiring an additional 355 shares during the period. Finally, Tower Research Capital LLC TRC grew 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 acquiring an additional 868 shares in the last quarter.

Grupo Cibest Company Profile

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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