Grupo Cibest (NYSE:CIB) Reaches New 12-Month High – Here’s Why

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $87.68 and last traded at $84.1350, with a volume of 164647 shares. The stock had previously closed at $81.45.

Analysts Set New Price Targets

A number of research firms recently commented on CIB. Weiss Ratings cut Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, April 24th. Itau BBA Securities raised Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research note on Tuesday, May 26th. Bank of America upgraded Grupo Cibest from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $68.00 to $75.00 in a research report on Monday, June 1st. JPMorgan Chase & Co. upped their price target on Grupo Cibest from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. Finally, UBS Group increased their price target on Grupo Cibest from $52.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Eight analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $72.20.

Grupo Cibest Stock Performance

The firm’s fifty day moving average price is $71.40 and its 200 day moving average price is $71.21. 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 stock has a market capitalization of $20.10 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 1.24 and a beta of 0.70.

Grupo Cibest (NYSE:CIB) last posted its earnings results on Monday, May 4th. The bank reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.22). Grupo Cibest had a net margin of 8.41% and a return on equity of 21.07%. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $2.04 billion. Analysts forecast that Grupo Cibest S.A. – Sponsored ADR will post 8.65 EPS for the current fiscal year.

Grupo Cibest Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Tuesday, June 30th will be paid a dividend of $1.304 per share. This represents a $5.22 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from Grupo Cibest’s previous quarterly dividend of $1.22. Grupo Cibest’s dividend payout ratio is currently 136.11%.

Hedge Funds Weigh In On Grupo Cibest

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Grupo Cibest by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 3,089,670 shares of the bank’s stock worth $196,534,000 after purchasing an additional 67,986 shares in the last quarter. Earnest Partners LLC increased its stake in Grupo Cibest by 8.8% during the 4th quarter. Earnest Partners LLC now owns 2,697,747 shares of the bank’s stock worth $171,604,000 after buying an additional 218,359 shares during the period. JPMorgan Chase & Co. increased its stake in Grupo Cibest by 4.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 980,426 shares of the bank’s stock worth $50,923,000 after buying an additional 40,447 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Grupo Cibest during the 3rd quarter worth approximately $44,920,000. Finally, Sei Investments Co. lifted its holdings in Grupo Cibest by 29.8% during the 2nd quarter. Sei Investments Co. now owns 863,718 shares of the bank’s stock worth $39,895,000 after buying an additional 198,228 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.