Grupo Cibest (NYSE:CIB) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Grupo Cibest (NYSE:CIB) to a buy rating in a report released on Saturday,Wall Street Zen reports.

CIB has been the subject of several other reports. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $110.00 price objective on shares of Grupo Cibest in a research note on Wednesday, September 16th. Zacks Research downgraded Grupo Cibest from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. The Goldman Sachs Group increased their target price on shares of Grupo Cibest from $98.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Citigroup upgraded Grupo Cibest from a “hold” rating to a “buy” rating in a research report on Thursday, August 13th. Finally, Royal Bank Of Canada set a $110.00 price target on shares of Grupo Cibest in a report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Grupo Cibest currently has an average rating of “Hold” and a consensus target price of $90.83.

Grupo Cibest Stock Up 0.2%

Shares of CIB opened at $97.85 on Friday. The stock has a market capitalization of $23.22 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 0.75 and a beta of 0.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a fifty day moving average of $97.35 and a 200-day moving average of $83.56. Grupo Cibest has a 52 week low of $53.34 and a 52 week high of $105.60.

Grupo Cibest (NYSE:CIB) last issued its quarterly earnings data on Monday, August 10th. The bank reported $3.32 earnings per share for the quarter, topping the consensus estimate of $2.14 by $1.18. Grupo Cibest had a net margin of 10.80% and a return on equity of 20.87%. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.40 billion. As a group, sell-side analysts anticipate that Grupo Cibest will post 10.87 earnings per share for the current fiscal year.

Grupo Cibest Announces Dividend

The business also recently disclosed a special dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 8th were given a dividend of $1.6324 per share. The ex-dividend date of this dividend was Tuesday, September 8th. Grupo Cibest’s dividend payout ratio (DPR) is 106.24%.

Institutional Trading of Grupo Cibest

Several institutional investors have recently added to or reduced their stakes in CIB. Bank of America Corp DE boosted its stake in shares of Grupo Cibest by 9.1% in the first quarter. Bank of America Corp DE now owns 516,834 shares of the bank’s stock worth $37,631,000 after acquiring an additional 43,126 shares during the period. Nykredit A S bought a new stake in Grupo Cibest during the 2nd quarter valued at approximately $5,589,000. Barings LLC raised its stake in Grupo Cibest by 50.2% during the 1st quarter. Barings LLC now owns 81,500 shares of the bank’s stock valued at $5,934,000 after purchasing an additional 27,227 shares during the period. Barometer Capital Management Inc. raised its position in shares of Grupo Cibest by 671.0% during the first quarter. Barometer Capital Management Inc. now owns 23,900 shares of the bank’s stock valued at $1,740,000 after buying an additional 20,800 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in Grupo Cibest by 46,580.9% in the 1st quarter. Assetmark Inc. now owns 95,229 shares of the bank’s stock worth $6,934,000 after purchasing an additional 95,025 shares in the last quarter.

About Grupo Cibest

Grupo Cibest SA is a Colombia-based financial services holding company formerly known as Bancolombia SA The company operates through a diversified financial-services platform focused on serving individuals, businesses, corporations and institutional clients.

Its businesses include commercial and consumer banking, savings and checking accounts, lending, credit cards, payments, leasing, investment banking, brokerage, fiduciary services, asset management and insurance. Through its subsidiaries and digital channels, Grupo Cibest provides financial products and services to retail customers, small and midsize businesses, and large corporations.

The company has its principal operations in Colombia and a broader presence in Central America, including Panama, Guatemala and El Salvador.