Grupo Cibest’s (CIB) “Neutral” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of Grupo Cibest (NYSE:CIB) in a research report report published on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a $110.00 price objective on the bank’s stock.

A number of other research analysts have also recently commented on CIB. Weiss Ratings raised Grupo Cibest from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 18th. Citigroup raised Grupo Cibest from a “hold” rating to a “buy” rating in a research note on Thursday, August 13th. Zacks Research upgraded Grupo Cibest from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Bank of America upgraded Grupo Cibest from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $68.00 to $75.00 in a research report on Monday, June 1st. Finally, Itau BBA Securities upgraded shares of Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $90.83.

Grupo Cibest Trading Down 2.4%

Shares of Grupo Cibest stock opened at $98.27 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.99 and a quick ratio of 0.99. Grupo Cibest has a 1 year low of $50.72 and a 1 year high of $105.60. The firm has a market cap of $23.32 billion, a PE ratio of 19.16, a PEG ratio of 0.77 and a beta of 0.65. The company has a 50 day simple moving average of $93.31 and a two-hundred day simple moving average of $79.50.

Grupo Cibest (NYSE:CIB) last issued its quarterly earnings results on Monday, August 10th. The bank reported $3.32 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $1.18. Grupo Cibest had a net margin of 10.80% and a return on equity of 20.87%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.40 billion. Analysts expect that Grupo Cibest will post 10.87 earnings per share for the current fiscal year.

Grupo Cibest Announces Dividend

The company also recently declared a special dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 8th were issued a $1.6324 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. Grupo Cibest’s dividend payout ratio (DPR) is 103.70%.

Hedge Funds Weigh In On Grupo Cibest

Several hedge funds have recently made changes to their positions in CIB. Amundi raised its holdings in Grupo Cibest by 26.7% in the 1st quarter. Amundi now owns 495,535 shares of the bank’s stock worth $36,080,000 after acquiring an additional 104,280 shares during the last quarter. ABN Amro Investment Solutions boosted its stake in Grupo Cibest by 110.7% during the 4th quarter. ABN Amro Investment Solutions now owns 182,945 shares of the bank’s stock valued at $11,637,000 after purchasing an additional 96,109 shares during the last quarter. Assetmark Inc. boosted its stake in Grupo Cibest by 46,580.9% during the 1st quarter. Assetmark Inc. now owns 95,229 shares of the bank’s stock valued at $6,934,000 after purchasing an additional 95,025 shares during the last quarter. Nykredit A S bought a new stake in shares of Grupo Cibest in the 2nd quarter worth $5,589,000. Finally, Lesa Sroufe & Co bought a new stake in shares of Grupo Cibest in the 1st quarter worth $4,851,000.

Grupo Cibest Company Profile

Grupo Cibest SA is a Colombian financial holding company formerly known as Bancolombia SA Through its subsidiaries, the group provides banking, payments, investment, insurance and other financial services to individuals, businesses and institutional customers.

Its principal banking operations are conducted through Bancolombia, which offers checking and savings accounts, consumer and commercial lending, mortgages, credit and debit cards, cash management, investment products and digital banking services.