Grupo Cibest (NYSE:CIB) Lowered to Underperform Rating by Itau BBA Securities

Grupo Cibest (NYSE:CIB) was downgraded by research analysts at Itau BBA Securities from a “market perform” rating to an “underperform” rating in a report issued on Thursday,Finviz reports. They currently have a $68.00 price target on the bank’s stock. Itau BBA Securities’ target price points to a potential downside of 8.63% from the stock’s previous close.

CIB has been the topic of a number of other research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Grupo Cibest in a research report on Monday, December 29th. The Goldman Sachs Group lifted their price objective on Grupo Cibest from $69.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday. Zacks Research downgraded Grupo Cibest from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Santander lowered Grupo Cibest to an “underperform” rating in a research note on Wednesday, December 17th. Finally, Citigroup lowered shares of Grupo Cibest from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $59.20.

Grupo Cibest Stock Performance

NYSE:CIB opened at $74.43 on Thursday. The business has a fifty day simple moving average of $73.92 and a two-hundred day simple moving average of $62.22. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00. Grupo Cibest has a 1 year low of $35.44 and a 1 year high of $86.31. The company has a market capitalization of $17.90 billion, a P/E ratio of 10.22, a P/E/G ratio of 0.92 and a beta of 0.79.

Institutional Trading of Grupo Cibest

A number of institutional investors have recently made changes to their positions in CIB. Millennium Management LLC raised its holdings in Grupo Cibest by 527.0% in the 1st quarter. Millennium Management LLC now owns 316,877 shares of the bank’s stock valued at $12,738,000 after acquiring an additional 266,341 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Grupo Cibest by 62.3% in the first quarter. Goldman Sachs Group Inc. now owns 142,018 shares of the bank’s stock valued at $5,709,000 after purchasing an additional 54,497 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Grupo Cibest in the second quarter valued at approximately $445,000. Stokes Family Office LLC lifted its position in Grupo Cibest by 3.6% during the second quarter. Stokes Family Office LLC now owns 43,290 shares of the bank’s stock worth $2,000,000 after buying an additional 1,500 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Grupo Cibest by 10.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 195,129 shares of the bank’s stock worth $9,013,000 after buying an additional 18,848 shares during the last quarter.

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.