Grupo Cibest (NYSE:CIB) Stock Crosses Above 200 Day Moving Average – Here’s Why

Shares of Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $55.76 and traded as high as $75.75. Grupo Cibest shares last traded at $75.7070, with a volume of 383,177 shares.

Analysts Set New Price Targets

Several brokerages recently issued reports on CIB. Zacks Research upgraded shares of Grupo Cibest from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of Grupo Cibest in a report on Monday, December 29th. The Goldman Sachs Group upgraded Grupo Cibest from a “sell” rating to a “neutral” rating and raised their price target for the stock from $49.00 to $69.00 in a research note on Tuesday, January 13th. Citigroup reiterated a “buy” rating on shares of Grupo Cibest in a research report on Monday, October 20th. Finally, JPMorgan Chase & Co. raised their target price on Grupo Cibest from $48.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $54.80.

Grupo Cibest Price Performance

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 stock has a market cap of $18.68 billion, a P/E ratio of 10.67, a P/E/G ratio of 0.94 and a beta of 0.81. The firm has a 50 day moving average price of $65.18 and a 200 day moving average price of $55.98.

Institutional Trading of Grupo Cibest

A number of hedge funds and other institutional investors have recently modified their holdings of CIB. JPMorgan Chase & Co. boosted its stake in shares of Grupo Cibest by 22.7% in the second quarter. JPMorgan Chase & Co. now owns 939,979 shares of the bank’s stock worth $43,418,000 after acquiring an additional 173,734 shares during the period. Coldstream Capital Management Inc. raised its stake in Grupo Cibest by 790.9% during the 2nd quarter. Coldstream Capital Management Inc. now owns 5,372 shares of the bank’s stock valued at $248,000 after purchasing an additional 4,769 shares during the period. Blue Grotto Capital LLC lifted its holdings in Grupo Cibest by 73.1% in the 2nd quarter. Blue Grotto Capital LLC now owns 350,111 shares of the bank’s stock worth $16,172,000 after purchasing an additional 147,801 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in Grupo Cibest in the 2nd quarter worth approximately $383,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Grupo Cibest by 6.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,133,425 shares of the bank’s stock valued at $52,353,000 after buying an additional 72,119 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.