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

Zacks Research downgraded shares of Grupo Cibest (NYSE:CIB) from a strong-buy rating to a hold rating in a report released on Monday morning,Zacks reports.

CIB has been the subject of a number of other research reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $110.00 price target on shares of Grupo Cibest in a report on Wednesday, September 16th. Weiss Ratings upgraded shares of Grupo Cibest from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Royal Bank Of Canada set a $110.00 price objective on shares of Grupo Cibest in a research report on Tuesday, August 11th. Citigroup upgraded Grupo Cibest from a “hold” rating to a “buy” rating in a research note on Thursday, August 13th. Finally, The Goldman Sachs Group raised their target price on Grupo Cibest from $98.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Grupo Cibest presently has a consensus rating of “Hold” and a consensus target price of $90.83.

Grupo Cibest Price Performance

Grupo Cibest stock opened at $95.39 on Monday. 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 one year low of $53.34 and a one year high of $105.60. The firm has a market cap of $22.64 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 0.72 and a beta of 0.67. The stock’s fifty day moving average price is $96.88 and its two-hundred day moving average price is $83.08.

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

Grupo Cibest Announces Dividend

The business also recently declared a special dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 8th were paid a $1.6324 dividend. The ex-dividend date was Tuesday, September 8th. Grupo Cibest’s dividend payout ratio (DPR) is presently 106.24%.

Hedge Funds Weigh In On Grupo Cibest

Institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC lifted its stake in shares of Grupo Cibest by 24.0% in the 1st quarter. V Square Quantitative Management LLC now owns 2,492 shares of the bank’s stock valued at $181,000 after acquiring an additional 482 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Grupo Cibest by 5.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 13,596 shares of the bank’s stock worth $990,000 after acquiring an additional 677 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Grupo Cibest in the 2nd quarter worth about $79,000. QRG Capital Management Inc. increased its holdings in Grupo Cibest by 6.5% in the 2nd quarter. QRG Capital Management Inc. now owns 17,479 shares of the bank’s stock worth $1,388,000 after purchasing an additional 1,070 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Grupo Cibest by 29.9% in the 1st quarter. First Trust Advisors LP now owns 4,819 shares of the bank’s stock worth $351,000 after purchasing an additional 1,110 shares in the last quarter.

Grupo Cibest Company Profile

Grupo Cibest SA is a Colombia-based financial services holding company formerly known as Bancolombia SA The company operates through a diversified financial-services platform focused on serving individuals, businesses, corporations and institutional clients.

Its businesses include commercial and consumer banking, savings and checking accounts, lending, credit cards, payments, leasing, investment banking, brokerage, fiduciary services, asset management and insurance. Through its subsidiaries and digital channels, Grupo Cibest provides financial products and services to retail customers, small and midsize businesses, and large corporations.

The company has its principal operations in Colombia and a broader presence in Central America, including Panama, Guatemala and El Salvador.