Grupo Cibest (NYSE:CIB) Reaches New 12-Month High – Here’s Why

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $78.34 and last traded at $77.0710, with a volume of 67366 shares trading hands. The stock had previously closed at $75.75.

Analysts Set New Price Targets

Several brokerages recently weighed in on CIB. Santander downgraded Grupo Cibest to an “underperform” rating in a research report on Wednesday, December 17th. Weiss Ratings restated a “buy (b-)” rating on shares of Grupo Cibest in a research note on Monday, December 29th. Citigroup lowered shares of Grupo Cibest from a “buy” rating to a “neutral” rating in a report on Wednesday. The Goldman Sachs Group raised shares of Grupo Cibest from a “sell” rating to a “neutral” rating and increased their price objective for the company from $49.00 to $69.00 in a research note on Tuesday, January 13th. Finally, Zacks Research lowered shares of Grupo Cibest from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $54.80.

Grupo Cibest Price Performance

The business has a 50 day moving average price of $65.49 and a 200-day moving average price of $56.14. The company has a market capitalization of $18.97 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 0.96 and a beta of 0.81. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Grupo Cibest in the 3rd quarter worth about $44,920,000. Millennium Management LLC increased its position in shares of Grupo Cibest by 527.0% in the first quarter. Millennium Management LLC now owns 316,877 shares of the bank’s stock worth $12,738,000 after purchasing an additional 266,341 shares during the last quarter. Sei Investments Co. raised its position in shares of Grupo Cibest by 29.8% during the 2nd quarter. Sei Investments Co. now owns 863,718 shares of the bank’s stock valued at $39,895,000 after buying an additional 198,228 shares in the last quarter. Candriam S.C.A. bought a new stake in Grupo Cibest during the second quarter worth about $8,619,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Grupo Cibest by 22.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 939,979 shares of the bank’s stock valued at $43,418,000 after purchasing an additional 173,734 shares during 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.