Grupo Cibest (NYSE:CIB) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Grupo Cibest (NYSE:CIB) from a neutral rating to an overweight rating in a research report report published on Tuesday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $110.00 price objective on the bank’s stock, up from their prior price objective of $70.00.

Several other equities analysts have also recently issued reports on CIB. Itau BBA Securities upgraded shares of Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research note on Tuesday, May 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Grupo Cibest in a research note on Tuesday, July 21st. Bank of America raised shares of Grupo Cibest from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $68.00 to $75.00 in a report on Monday, June 1st. The Goldman Sachs Group upgraded shares of Grupo Cibest from a “neutral” rating to a “buy” rating and increased their price objective for the company from $81.00 to $98.00 in a research report on Tuesday, July 28th. Finally, UBS Group raised their target price on shares of Grupo Cibest from $52.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $90.83.

Grupo Cibest Stock Up 0.5%

Grupo Cibest stock opened at $96.23 on Tuesday. Grupo Cibest has a 12 month low of $48.06 and a 12 month high of $100.74. The stock has a fifty day simple moving average of $83.37 and a two-hundred day simple moving average of $76.03. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.20. The firm has a market cap of $22.83 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 0.77 and a beta of 0.67.

Grupo Cibest (NYSE:CIB) last announced its quarterly earnings results on Monday, August 10th. The bank reported $3.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $1.18. Grupo Cibest had a return on equity of 22.21% and a net margin of 10.80%.The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.40 billion. Equities analysts predict that Grupo Cibest will post 10.25 EPS for the current fiscal year.

Grupo Cibest Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Tuesday, June 30th were issued a $1.304 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This is a positive change from Grupo Cibest’s previous quarterly dividend of $1.22. This represents a $5.22 dividend on an annualized basis and a dividend yield of 5.4%. Grupo Cibest’s payout ratio is 103.70%.

Institutional Trading of Grupo Cibest

Several large investors have recently added to or reduced their stakes in CIB. Arax Advisory Partners raised its position in Grupo Cibest by 2,525.0% in the fourth quarter. Arax Advisory Partners now owns 525 shares of the bank’s stock worth $33,000 after acquiring an additional 505 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Grupo Cibest by 105.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank’s stock valued at $35,000 after acquiring an additional 280 shares during the period. TD Waterhouse Canada Inc. bought a new stake in shares of Grupo Cibest during the 4th quarter valued at $43,000. Tower Research Capital LLC TRC increased its stake in shares of Grupo Cibest by 796.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 977 shares of the bank’s stock worth $45,000 after purchasing an additional 868 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Grupo Cibest by 89.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 753 shares of the bank’s stock worth $48,000 after purchasing an additional 355 shares in the last quarter.

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.