Itau BBA Securities Downgrades Grupo Cibest (NYSE:CIB) to Underperform

Grupo Cibest (NYSE:CIB) was downgraded by analysts at Itau BBA Securities from a “market perform” rating to an “underperform” rating in a research report issued on Thursday, MarketBeat Ratings reports. They currently have a $68.00 price objective on the bank’s stock. Itau BBA Securities’ target price would indicate a potential upside of 0.17% from the company’s previous close.

A number of other brokerages have also commented on CIB. Santander lowered shares of Grupo Cibest to an “underperform” rating in a research report on Wednesday, December 17th. The Goldman Sachs Group raised their price objective on shares of Grupo Cibest from $69.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Grupo Cibest in a report on Monday, December 29th. JPMorgan Chase & Co. boosted their price target on Grupo Cibest from $48.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, November 21st. Finally, Citigroup downgraded Grupo Cibest from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $59.20.

Grupo Cibest Price Performance

Grupo Cibest stock opened at $67.89 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. The business’s fifty day moving average is $74.17 and its two-hundred day moving average is $62.40. Grupo Cibest has a 52 week low of $35.44 and a 52 week high of $86.31. The firm has a market cap of $16.32 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.20 and a beta of 0.79.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ieq Capital LLC increased its position in Grupo Cibest by 2.6% during the 4th quarter. Ieq Capital LLC now owns 7,961 shares of the bank’s stock valued at $506,000 after buying an additional 205 shares in the last quarter. Signaturefd LLC increased its stake in Grupo Cibest by 5.3% during the 4th quarter. Signaturefd LLC now owns 4,905 shares of the bank’s stock valued at $312,000 after purchasing an additional 248 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in 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 purchasing an additional 280 shares in the last quarter. Ballentine Partners LLC raised its holdings in Grupo Cibest by 2.1% in the fourth quarter. Ballentine Partners LLC now owns 16,229 shares of the bank’s stock worth $1,032,000 after buying an additional 332 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Grupo Cibest by 89.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 753 shares of the bank’s stock worth $48,000 after buying an additional 355 shares in the last quarter.

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.