Grupo Cibest (NYSE:CIB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Grupo Cibest (NYSE:CIB) to a buy rating in a research note released on Saturday,Wall Street Zen reports.

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

Grupo Cibest Stock Down 2.4%

Shares of CIB opened at $95.56 on Friday. The company has a market cap of $22.68 billion, a PE ratio of 11.01, a P/E/G ratio of 0.75 and a beta of 0.67. The business has a fifty day moving average of $97.43 and a 200 day moving average of $83.82. Grupo Cibest has a 52-week low of $53.34 and a 52-week high of $105.60. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.18.

Grupo Cibest (NYSE:CIB) last posted its quarterly earnings data on Monday, August 10th. The bank reported $3.32 EPS for the quarter, topping the consensus estimate of $2.14 by $1.18. Grupo Cibest had a net margin of 10.80% and a return on equity of 20.87%. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.40 billion. On average, sell-side analysts expect that Grupo Cibest will post 10.87 EPS for the current year.

Grupo Cibest Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 8th were issued a dividend of $1.6324 per share. The ex-dividend date was Tuesday, September 8th. Grupo Cibest’s payout ratio is presently 106.24%.

Hedge Funds Weigh In On Grupo Cibest

Several hedge funds have recently bought and sold shares of the business. TD Waterhouse Canada Inc. bought a new position in shares of Grupo Cibest in the third quarter worth about $1,000,000. Triasima Portfolio Management inc. lifted its holdings in Grupo Cibest by 14.7% during the 3rd quarter. Triasima Portfolio Management inc. now owns 141,201 shares of the bank’s stock valued at $13,111,000 after buying an additional 18,050 shares in the last quarter. Mather Group LLC. bought a new stake in Grupo Cibest during the 3rd quarter valued at about $60,000. Sanders Morris Harris LLC bought a new stake in Grupo Cibest during the 3rd quarter valued at about $238,000. Finally, QRG Capital Management Inc. lifted its holdings in Grupo Cibest by 6.5% during the 2nd quarter. QRG Capital Management Inc. now owns 17,479 shares of the bank’s stock valued at $1,388,000 after buying an additional 1,070 shares in the last quarter.

About Grupo Cibest

Grupo Cibest SA is a Colombia-based financial services holding company whose principal business is conducted through Bancolombia and related subsidiaries. The group provides banking and financial solutions to individuals, businesses, institutions and governments, with activities spanning commercial banking, consumer finance, corporate banking, investment banking, wealth management, insurance and payments.

Its offerings include deposit accounts, loans, credit cards, cash-management services, investment products, trust and fiduciary services, foreign-exchange solutions and digital financial tools.