Grupo Cibest (NYSE:CIB) Sets New 12-Month High – Here’s What Happened

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB)’s share price reached a new 52-week high 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.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Grupo Cibest in a research report on Monday, December 29th. Zacks Research raised Grupo Cibest from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. boosted their target price on Grupo Cibest from $48.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, November 21st. Santander cut Grupo Cibest to an “underperform” rating in a report on Wednesday, December 17th. Finally, Citigroup reiterated a “buy” rating on shares of Grupo Cibest in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Grupo Cibest presently has an average rating of “Hold” and a consensus target price of $54.80.

Grupo Cibest Price Performance

The firm’s 50-day moving average is $63.86 and its 200-day moving average is $54.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $17.57 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 0.88 and a beta of 0.81.

Hedge Funds Weigh In On Grupo Cibest

Large investors have recently modified their holdings of the company. Millennium Management LLC boosted its stake in Grupo Cibest by 527.0% in the first quarter. Millennium Management LLC now owns 316,877 shares of the bank’s stock worth $12,738,000 after buying an additional 266,341 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Grupo Cibest by 62.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 142,018 shares of the bank’s stock worth $5,709,000 after acquiring an additional 54,497 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of Grupo Cibest by 5.2% in the 2nd quarter. Ballentine Partners LLC now owns 16,074 shares of the bank’s stock worth $742,000 after acquiring an additional 795 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Grupo Cibest by 2.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 88,337 shares of the bank’s stock valued at $4,080,000 after purchasing an additional 2,519 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC bought a new position in shares of Grupo Cibest during the 2nd quarter valued at $383,000.

About Grupo Cibest

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.