Grupo Cibest (NYSE:CIB) Reaches New 12-Month High – What’s Next?

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) hit a new 52-week high during trading on Monday . The company traded as high as $72.05 and last traded at $71.9750, with a volume of 43060 shares. The stock had previously closed at $70.74.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Citigroup reiterated a “buy” rating on shares of Grupo Cibest in a report on Monday, October 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Grupo Cibest in a research report on Monday, December 29th. JPMorgan Chase & Co. boosted their price target on shares of Grupo Cibest from $48.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, November 21st. Zacks Research upgraded Grupo Cibest from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 24th. Finally, Santander cut Grupo Cibest to an “underperform” rating in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Grupo Cibest currently has an average rating of “Hold” and a consensus target price of $48.00.

Grupo Cibest Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $17.19 billion, a P/E ratio of 9.82, a PEG ratio of 0.88 and a beta of 0.81. The stock’s fifty day moving average is $63.30 and its 200-day moving average is $54.57.

Institutional Investors Weigh In On Grupo Cibest

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its position in Grupo Cibest by 527.0% during 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 period. Goldman Sachs Group Inc. lifted its stake 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 worth $5,709,000 after buying an additional 54,497 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of Grupo Cibest by 5.2% during the 2nd quarter. Ballentine Partners LLC now owns 16,074 shares of the bank’s stock worth $742,000 after buying an additional 795 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Grupo Cibest by 2.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 88,337 shares of the bank’s stock worth $4,080,000 after buying an additional 2,519 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC bought a new position in Grupo Cibest in the 2nd quarter worth $383,000.

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.