Grupo Cibest (NYSE:CIB) Rating Lowered to Hold at Zacks Research

Grupo Cibest (NYSE:CIB) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on CIB. Citigroup cut Grupo Cibest from a “buy” rating to a “neutral” rating in a research note on Wednesday. Santander lowered shares of Grupo Cibest to an “underperform” rating in a research report on Wednesday, December 17th. JPMorgan Chase & Co. increased their target price on shares of Grupo Cibest from $48.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, November 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Grupo Cibest in a report on Monday, December 29th. Finally, The Goldman Sachs Group raised 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 report on Tuesday, January 13th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $54.80.

Grupo Cibest Stock Performance

Shares of NYSE CIB traded down $0.63 during midday trading on Tuesday, reaching $78.96. The company’s stock had a trading volume of 207,984 shares, compared to its average volume of 388,240. The firm has a 50 day moving average price of $65.49 and a 200-day moving average price of $56.14. The stock has a market capitalization of $18.99 billion, a P/E ratio of 10.85, a PEG ratio of 0.96 and a beta of 0.81. Grupo Cibest has a 12-month low of $33.01 and a 12-month high of $80.17. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CIB. Sowell Financial Services LLC bought a new stake in Grupo Cibest during the fourth quarter worth about $508,000. Signaturefd LLC lifted its position in Grupo Cibest by 5.3% in the 4th quarter. Signaturefd LLC now owns 4,905 shares of the bank’s stock worth $312,000 after buying an additional 248 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in Grupo Cibest in the fourth quarter worth approximately $31,000. Blue Trust Inc. grew its position in Grupo Cibest by 26.9% during the fourth quarter. Blue Trust Inc. now owns 3,961 shares of the bank’s stock valued at $252,000 after acquiring an additional 840 shares during the last quarter. Finally, Grove Bank & Trust bought a new position in Grupo Cibest during the fourth quarter valued at approximately $97,000.

About Grupo Cibest

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.