Patriot Financial Group Insurance Agency LLC Buys 8,343 Shares of Grupo Cibest S.A. – Sponsored ADR $CIB

Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) by 101.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,572 shares of the bank’s stock after acquiring an additional 8,343 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Grupo Cibest were worth $1,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CIB. Millennium Management LLC lifted its position in Grupo Cibest by 527.0% in the first quarter. Millennium Management LLC now owns 316,877 shares of the bank’s stock valued at $12,738,000 after purchasing an additional 266,341 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Grupo Cibest by 62.3% in the first quarter. Goldman Sachs Group Inc. now owns 142,018 shares of the bank’s stock worth $5,709,000 after purchasing an additional 54,497 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Grupo Cibest by 288.4% in the second quarter. Marshall Wace LLP now owns 40,269 shares of the bank’s stock worth $1,860,000 after purchasing an additional 29,902 shares during the last quarter. Cerity Partners LLC purchased a new position in shares of Grupo Cibest in the second quarter worth $349,000. Finally, Qube Research & Technologies Ltd increased its stake in shares of Grupo Cibest by 158.7% in the second quarter. Qube Research & Technologies Ltd now owns 254,287 shares of the bank’s stock worth $11,746,000 after buying an additional 155,985 shares during the period.

Analyst Ratings Changes

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

Grupo Cibest Stock Performance

Shares of CIB stock opened at $79.85 on Tuesday. The stock has a fifty day moving average of $71.92 and a 200 day moving average of $71.91. Grupo Cibest S.A. – Sponsored ADR has a 52 week low of $43.20 and a 52 week high of $87.68. The firm has a market capitalization of $18.95 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 0.91 and a beta of 0.70. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.20.

Grupo Cibest (NYSE:CIB) last issued its quarterly earnings data on Monday, May 4th. The bank reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.22). The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Grupo Cibest had a net margin of 8.41% and a return on equity of 21.07%. As a group, research analysts expect that Grupo Cibest S.A. – Sponsored ADR will post 8.87 earnings per share for the current year.

Grupo Cibest Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $1.304 per share. This represents a $5.22 dividend on an annualized basis and a dividend yield of 6.5%. 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 payout ratio is presently 136.11%.

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.