Legal & General Group Plc Lowers Stake in Grupo Cibest S.A. – Sponsored ADR $CIB

Legal & General Group Plc reduced its stake in shares of Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) by 12.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 281,741 shares of the bank’s stock after selling 38,472 shares during the period. Legal & General Group Plc owned approximately 0.12% of Grupo Cibest worth $13,000,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CIB. Caitong International Asset Management Co. Ltd lifted its stake in Grupo Cibest by 253.2% during the second quarter. Caitong International Asset Management Co. Ltd now owns 657 shares of the bank’s stock worth $30,000 after purchasing an additional 471 shares during the last quarter. SVB Wealth LLC bought a new stake in Grupo Cibest in the 1st quarter worth approximately $45,000. Aberdeen Group plc purchased a new stake in Grupo Cibest in the first quarter worth approximately $201,000. Malaga Cove Capital LLC bought a new position in Grupo Cibest during the first quarter valued at approximately $209,000. Finally, Aigen Investment Management LP purchased a new position in shares of Grupo Cibest during the first quarter worth approximately $241,000.

Grupo Cibest Price Performance

CIB stock opened at $63.06 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.29. The firm’s 50-day moving average price is $57.26 and its two-hundred day moving average price is $49.93. The stock has a market capitalization of $15.16 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 1.13 and a beta of 0.95. Grupo Cibest S.A. – Sponsored ADR has a 12-month low of $31.19 and a 12-month high of $65.00.

Wall Street Analysts Forecast Growth

CIB has been the subject of a number of recent research reports. Bank of America restated an “underperform” rating on shares of Grupo Cibest in a report on Thursday, September 11th. Zacks Research upgraded shares of Grupo Cibest from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. raised their price objective on Grupo Cibest from $48.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, November 21st. Citigroup reissued a “buy” rating on shares of Grupo Cibest in a research note on Monday, October 20th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Grupo Cibest in a report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $48.00.

Grupo Cibest Profile

Bancolombia SA, together with its subsidiaries, provides banking products and services in Colombia and internationally. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.