Grupo Cibest (NYSE:CIB) Sets New 52-Week High – Time to Buy?

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $65.11 and last traded at $64.4340, with a volume of 18264 shares. The stock had previously closed at $64.07.

Analyst Upgrades and Downgrades

CIB has been the topic of a number of recent analyst reports. Citigroup reiterated a “buy” rating on shares of Grupo Cibest in a report on Monday, October 20th. Zacks Research upgraded Grupo Cibest from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 24th. Weiss Ratings restated a “buy (b-)” rating on shares of Grupo Cibest in a research note on Monday. JPMorgan Chase & Co. upped their price target on Grupo Cibest from $48.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, November 21st. Finally, Bank of America reiterated an “underperform” rating on shares of Grupo Cibest in a report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.00.

Grupo Cibest Stock Up 0.4%

The company has a fifty day simple moving average of $58.15 and a 200-day simple moving average of $50.47. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.26. The firm has a market cap of $15.46 billion, a P/E ratio of 8.83, a price-to-earnings-growth ratio of 0.89 and a beta of 0.88.

Hedge Funds Weigh In On Grupo Cibest

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. raised its holdings in Grupo Cibest by 9.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,855 shares of the bank’s stock valued at $252,000 after buying an additional 399 shares during the period. R Squared Ltd raised its stake in shares of Grupo Cibest by 7.1% in the third quarter. R Squared Ltd now owns 6,373 shares of the bank’s stock valued at $331,000 after acquiring an additional 420 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Grupo Cibest by 253.2% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 657 shares of the bank’s stock worth $30,000 after acquiring an additional 471 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC boosted its stake in shares of Grupo Cibest by 4.7% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 11,421 shares of the bank’s stock worth $593,000 after purchasing an additional 511 shares during the period. Finally, Measured Wealth Private Client Group LLC grew its holdings in Grupo Cibest by 7.9% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 9,548 shares of the bank’s stock valued at $384,000 after purchasing an additional 700 shares during the last quarter.

About Grupo Cibest

Bancolombia SA, together with its subsidiaries, provides banking products and services in Colombia and internationally. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.