Grupo Cibest (NYSE:CIB) Sets New 52-Week High – Here’s What Happened

Shares of Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $78.34 and last traded at $77.0710, with a volume of 67366 shares changing hands. The stock had previously closed at $75.75.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. The Goldman Sachs Group upgraded Grupo Cibest from a “sell” rating to a “neutral” rating and lifted their target price for the company from $49.00 to $69.00 in a research note on Tuesday, January 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Grupo Cibest in a report on Monday, December 29th. Zacks Research raised shares of Grupo Cibest from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. raised their target price on shares of Grupo Cibest from $48.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, November 21st. Finally, Citigroup reiterated a “buy” rating on shares of Grupo Cibest in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $54.80.

Grupo Cibest Trading Up 2.1%

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 business’s fifty day moving average is $64.91 and its 200 day moving average is $55.76. The stock has a market cap of $18.60 billion, a PE ratio of 10.63, a P/E/G ratio of 0.94 and a beta of 0.81.

Hedge Funds Weigh In On Grupo Cibest

Several hedge funds have recently bought and sold shares of CIB. GAMMA Investing LLC raised its holdings in Grupo Cibest by 39.8% during the fourth quarter. GAMMA Investing LLC now owns 1,321 shares of the bank’s stock worth $84,000 after purchasing an additional 376 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Grupo Cibest by 9.0% in the third quarter. Ameriprise Financial Inc. now owns 4,855 shares of the bank’s stock valued at $252,000 after purchasing an additional 399 shares during the last quarter. R Squared Ltd increased its position in shares of Grupo Cibest by 7.1% in the third quarter. R Squared Ltd now owns 6,373 shares of the bank’s stock valued at $331,000 after buying an additional 420 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake 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 worth $30,000 after buying an additional 471 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Grupo Cibest in the 4th quarter worth about $31,000.

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.