Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) Receives Average Rating of “Reduce” from Brokerages

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) has received a consensus recommendation of “Reduce” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $72.20.

A number of equities research analysts recently issued reports on CIB shares. JPMorgan Chase & Co. raised their price target on Grupo Cibest from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, May 18th. Weiss Ratings downgraded Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. Bank of America upgraded Grupo Cibest from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $68.00 to $75.00 in a research note on Monday, June 1st. UBS Group lifted their target price on Grupo Cibest from $52.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Finally, Itau BBA Securities upgraded Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research report on Tuesday, May 26th.

Grupo Cibest Stock Performance

Grupo Cibest stock opened at $79.10 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.98 and a quick ratio of 0.98. Grupo Cibest has a 1-year low of $43.20 and a 1-year high of $87.68. The firm has a market capitalization of $18.77 billion, a P/E ratio of 21.97, a price-to-earnings-growth ratio of 0.90 and a beta of 0.67. The company’s 50-day moving average is $72.33 and its 200 day moving average is $72.27.

Grupo Cibest (NYSE:CIB) last announced its earnings results on Monday, May 4th. The bank reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.22). The business 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%. Research analysts forecast that Grupo Cibest will post 8.87 EPS for the current year.

Grupo Cibest Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Tuesday, June 30th will be paid a $1.304 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $5.22 annualized dividend and a yield of 6.6%. This is a boost from Grupo Cibest’s previous quarterly dividend of $1.22. Grupo Cibest’s payout ratio is 145.00%.

Institutional Investors Weigh In On Grupo Cibest

Large investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC bought a new position in Grupo Cibest in the 4th quarter worth about $31,000. Arax Advisory Partners boosted its holdings in shares of Grupo Cibest by 2,525.0% in the fourth quarter. Arax Advisory Partners now owns 525 shares of the bank’s stock valued at $33,000 after purchasing an additional 505 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Grupo Cibest by 105.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank’s stock valued at $35,000 after purchasing an additional 280 shares during the period. TD Waterhouse Canada Inc. bought a new position in Grupo Cibest in the fourth quarter worth approximately $43,000. Finally, Tower Research Capital LLC TRC grew its stake in Grupo Cibest by 796.3% in the second 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.

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.