The Goldman Sachs Group Increases Grupo Cibest (NYSE:CIB) Price Target to $81.00

Key Points

• Goldman Sachs raised its price target on Grupo Cibest to $81 from $71 and kept a neutral rating, implying only modest upside from the prior close.
• The stock has seen mixed analyst sentiment, with several firms recently raising targets or upgrading ratings, but the overall consensus remains a “Reduce” with an average price target of $73.20.
• Grupo Cibest shares were down 2.4% to $79.62 in Thursday trading, while the company also reported weaker-than-expected quarterly earnings and revenue in its latest results.

Grupo Cibest (NYSE:CIB - Get Free Report) had its price target boosted by analysts at The Goldman Sachs Group from $71.00 to $81.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the bank's stock. The Goldman Sachs Group's price objective suggests a potential upside of 1.73% from the stock's previous close.

CIB has been the subject of a number of other research reports. Weiss Ratings lowered shares of Grupo Cibest from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, April 24th. Itau BBA Securities upgraded Grupo Cibest from a "strong sell" rating to a "market perform" rating in a report on Tuesday, May 26th. Bank of America upgraded 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. JPMorgan Chase & Co. upped their target price on Grupo Cibest from $65.00 to $70.00 and gave the stock a "neutral" rating in a report on Monday, May 18th. Finally, UBS Group increased their price target on Grupo Cibest from $52.00 to $72.00 and gave the stock a "neutral" rating in a research report on Thursday, April 23rd. Eight investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $73.20.

Grupo Cibest Trading Down 2.4%

Shares of NYSE CIB traded down $1.93 during midday trading on Thursday, hitting $79.62. The company's stock had a trading volume of 103,227 shares, compared to its average volume of 421,204. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.20. The business's 50 day moving average is $74.33 and its two-hundred day moving average is $73.36. Grupo Cibest has a 12-month low of $43.20 and a 12-month high of $87.68. The firm has a market cap of $18.90 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 0.94 and a beta of 0.67.

Grupo Cibest (NYSE:CIB - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The bank reported $1.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.84 by ($0.22). Grupo Cibest had a net margin of 8.41% and a return on equity of 21.07%. The business had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $2.04 billion. As a group, equities research analysts expect that Grupo Cibest will post 8.87 EPS for the current year.

Institutional Trading of Grupo Cibest

Institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in Grupo Cibest in the fourth quarter valued at approximately $31,000. Arax Advisory Partners lifted its holdings in shares of Grupo Cibest by 2,525.0% during the 4th quarter. Arax Advisory Partners now owns 525 shares of the bank's stock valued at $33,000 after purchasing an additional 505 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Grupo Cibest by 105.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank's stock worth $35,000 after purchasing an additional 280 shares in the last quarter. TD Waterhouse Canada Inc. acquired a new stake in shares of Grupo Cibest in the 4th quarter worth $43,000. Finally, Tower Research Capital LLC TRC increased its position in Grupo Cibest by 796.3% during the 2nd 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 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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