Grupo Cibest (NYSE:CIB) Issues Earnings Results

Grupo Cibest (NYSE:CIB) announced its quarterly earnings results on Wednesday. The bank reported $999.00 earnings per share for the quarter, beating the consensus estimate of $2.00 by $997.00, Zacks reports. Grupo Cibest had a return on equity of 22.58% and a net margin of 17.26%.

Grupo Cibest Trading Down 0.5%

Shares of CIB traded down $0.37 during mid-day trading on Wednesday, reaching $75.37. The company’s stock had a trading volume of 234,900 shares, compared to its average volume of 435,045. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.26. Grupo Cibest has a 52 week low of $35.44 and a 52 week high of $86.31. The company’s fifty day moving average price is $73.67 and its two-hundred day moving average price is $62.13. The stock has a market cap of $18.12 billion, a PE ratio of 10.37, a P/E/G ratio of 0.98 and a beta of 0.79.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Earnest Partners LLC lifted its stake in shares of Grupo Cibest by 8.8% in the 4th 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. Sei Investments Co. increased its stake in Grupo Cibest by 29.8% in the 2nd quarter. Sei Investments Co. now owns 863,718 shares of the bank’s stock worth $39,895,000 after purchasing an additional 198,228 shares during the period. Itau Unibanco Holding S.A. boosted its stake in shares of Grupo Cibest by 164.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 651,368 shares of the bank’s stock valued at $41,523,000 after purchasing an additional 405,098 shares during the period. State Street Corp grew its holdings in shares of Grupo Cibest by 1.6% in the fourth quarter. State Street Corp now owns 597,639 shares of the bank’s stock worth $38,016,000 after purchasing an additional 9,259 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Grupo Cibest by 4.6% in the third quarter. Bank of America Corp DE now owns 478,464 shares of the bank’s stock worth $24,851,000 after buying an additional 20,863 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CIB shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Grupo Cibest in a research note on Monday, December 29th. The Goldman Sachs Group boosted their target price on Grupo Cibest from $69.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday. Zacks Research downgraded Grupo Cibest from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. boosted their price target 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, Santander lowered shares of Grupo Cibest to an “underperform” rating in a report on Wednesday, December 17th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $57.00.

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.