Grupo Cibest (NYSE:CIB) Cut to Underperform at Itau BBA Securities

Itau BBA Securities cut shares of Grupo Cibest (NYSE:CIB) from a market perform rating to an underperform rating in a report published on Thursday morning, MarketBeat Ratings reports. Itau BBA Securities currently has $68.00 price objective on the bank’s stock.

Several other research analysts have also issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Grupo Cibest in a report on Monday, December 29th. Santander cut Grupo Cibest to an “underperform” rating in a report on Wednesday, December 17th. 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 research note on Friday, November 21st. Citigroup downgraded shares of Grupo Cibest from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. Finally, Zacks Research cut shares of Grupo Cibest from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $59.20.

Grupo Cibest Price Performance

NYSE:CIB opened at $67.89 on Thursday. Grupo Cibest has a one year low of $35.44 and a one year high of $86.31. 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 company has a market cap of $16.32 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.18 and a beta of 0.79. The firm’s fifty day moving average price is $74.17 and its two-hundred day moving average price is $62.50.

Institutional Investors Weigh In On Grupo Cibest

A number of institutional investors have recently added to or reduced their stakes in CIB. Vanguard Group Inc. lifted its position in shares of Grupo Cibest by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 3,089,670 shares of the bank’s stock worth $196,534,000 after buying an additional 67,986 shares in the last quarter. Earnest Partners LLC increased its position in shares of Grupo Cibest by 8.8% during the fourth quarter. Earnest Partners LLC now owns 2,697,747 shares of the bank’s stock valued at $171,604,000 after acquiring an additional 218,359 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Grupo Cibest by 6.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,133,425 shares of the bank’s stock worth $52,353,000 after acquiring an additional 72,119 shares during the period. JPMorgan Chase & Co. boosted its position in Grupo Cibest by 4.3% in the third quarter. JPMorgan Chase & Co. now owns 980,426 shares of the bank’s stock worth $50,923,000 after purchasing an additional 40,447 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new position in Grupo Cibest in the 3rd quarter valued at $44,920,000.

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.