Grupo Cibest (NYSE:CIB) Given New $70.00 Price Target at JPMorgan Chase & Co.

Grupo Cibest (NYSE:CIB) had its price objective upped by JPMorgan Chase & Co. from $65.00 to $70.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

A number of other research analysts have also weighed in on the company. Weiss Ratings lowered Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, April 24th. Citigroup lowered Grupo Cibest from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. Itau BBA Securities lowered Grupo Cibest from a “market perform” rating to an “underperform” rating and set a $68.00 price objective on the stock. in a report on Thursday, February 26th. Zacks Research lowered Grupo Cibest from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, The Goldman Sachs Group upped their price objective on Grupo Cibest from $69.00 to $76.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $67.00.

Grupo Cibest Price Performance

Grupo Cibest stock opened at $64.10 on Monday. Grupo Cibest has a 12 month low of $40.28 and a 12 month high of $86.31. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50 day simple moving average of $69.92 and a 200-day simple moving average of $69.20. The stock has a market capitalization of $15.41 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 0.92 and a beta of 0.71.

Grupo Cibest (NYSE:CIB) last announced its quarterly earnings data on Monday, May 4th. The bank reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.22). Grupo Cibest had a return on equity of 23.86% and a net margin of 8.41%.The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $2.04 billion. Equities analysts predict that Grupo Cibest will post 9.07 earnings per share for the current year.

Grupo Cibest Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 13th. Shareholders of record on Tuesday, March 31st were issued a $1.2182 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $4.87 annualized dividend and a yield of 7.6%. Grupo Cibest’s dividend payout ratio is 136.11%.

Institutional Trading of Grupo Cibest

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allianz Asset Management GmbH lifted its position in shares of Grupo Cibest by 25.1% in the third quarter. Allianz Asset Management GmbH now owns 222,803 shares of the bank’s stock valued at $11,572,000 after acquiring an additional 44,666 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Grupo Cibest by 4.3% in the third quarter. JPMorgan Chase & Co. now owns 980,426 shares of the bank’s stock valued at $50,923,000 after acquiring an additional 40,447 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of Grupo Cibest in the third quarter valued at $4,113,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Grupo Cibest by 20.1% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 78,130 shares of the bank’s stock valued at $4,058,000 after acquiring an additional 13,078 shares in the last quarter. Finally, Capital Wealth Planning LLC lifted its position in shares of Grupo Cibest by 31.6% in the third quarter. Capital Wealth Planning LLC now owns 284,643 shares of the bank’s stock valued at $14,784,000 after acquiring an additional 68,425 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.