Grupo Cibest (NYSE:CIB) Sets New 12-Month High – Here’s What Happened
by Renee Jackson · The Cerbat GemGrupo Cibest S.A. – Sponsored ADR (NYSE:CIB – Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $66.25 and last traded at $65.9350, with a volume of 274890 shares trading hands. The stock had previously closed at $63.20.
Analysts Set New Price Targets
A number of research firms have commented on CIB. Bank of America reissued an “underperform” rating on shares of Grupo Cibest in a report on Thursday, September 11th. Citigroup reiterated a “buy” rating on shares of Grupo Cibest in a research report on Monday, October 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of Grupo Cibest in a report on Monday, December 29th. JPMorgan Chase & Co. upped their price target on Grupo Cibest from $48.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, November 21st. Finally, Zacks Research raised shares of Grupo Cibest from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.00.
Check Out Our Latest Stock Report on Grupo Cibest
Grupo Cibest Stock Up 5.1%
The company’s 50-day simple moving average is $62.19 and its 200 day simple moving average is $53.71. 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 firm has a market cap of $15.98 billion, a P/E ratio of 9.13, a price-to-earnings-growth ratio of 0.78 and a beta of 0.81.
Hedge Funds Weigh In On Grupo Cibest
Several large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its position in shares of Grupo Cibest by 253.2% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 657 shares of the bank’s stock valued at $30,000 after buying an additional 471 shares during the period. Tower Research Capital LLC TRC increased its stake in Grupo Cibest by 796.3% during the second quarter. Tower Research Capital LLC TRC now owns 977 shares of the bank’s stock worth $45,000 after acquiring an additional 868 shares during the last quarter. GAMMA Investing LLC raised its position in Grupo Cibest by 39.8% in the fourth quarter. GAMMA Investing LLC now owns 1,321 shares of the bank’s stock valued at $84,000 after purchasing an additional 376 shares during the period. Westfuller Advisors LLC acquired a new position in shares of Grupo Cibest in the 3rd quarter valued at $104,000. Finally, State of Wyoming purchased a new position in shares of Grupo Cibest during the 3rd quarter worth $139,000.
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.