Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) Sees Significant Decrease in Short Interest

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) saw a large drop in short interest in June. As of June 30th, there was short interest totaling 539,891 shares, a drop of 40.5% from the June 15th total of 907,587 shares. Based on an average daily trading volume, of 491,342 shares, the short-interest ratio is currently 1.1 days. Approximately 0.2% of the company’s stock are sold short.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. FNY Investment Advisers LLC bought a new position in shares of Grupo Cibest in the fourth quarter worth approximately $31,000. Arax Advisory Partners boosted its holdings in Grupo Cibest by 2,525.0% in the 4th quarter. Arax Advisory Partners now owns 525 shares of the bank’s stock worth $33,000 after buying an additional 505 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Grupo Cibest by 105.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank’s stock worth $35,000 after buying an additional 280 shares during the period. TD Waterhouse Canada Inc. purchased a new stake in Grupo Cibest in the 4th quarter worth $43,000. Finally, Tower Research Capital LLC TRC raised its holdings in Grupo Cibest by 796.3% during the second quarter. Tower Research Capital LLC TRC now owns 977 shares of the bank’s stock valued at $45,000 after acquiring an additional 868 shares during the period.

Grupo Cibest Stock Performance

Shares of NYSE CIB traded down $1.91 during trading on Thursday, reaching $79.64. 69,739 shares of the company traded hands, compared to its average volume of 421,076. The firm has a 50 day simple moving average of $74.33 and a 200-day simple moving average of $73.36. Grupo Cibest has a 52-week low of $43.20 and a 52-week high of $87.68. The stock has a market capitalization of $18.90 billion, a PE ratio of 22.07, a P/E/G ratio of 0.94 and a beta of 0.67. 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 released its quarterly earnings results 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 firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Grupo Cibest had a return on equity of 21.07% and a net margin of 8.41%. Equities research analysts anticipate that Grupo Cibest will post 8.87 earnings per share for the current year.

Grupo Cibest Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Tuesday, June 30th were given a dividend of $1.304 per share. This represents a $5.22 annualized dividend and a yield of 6.5%. This is a boost from Grupo Cibest’s previous quarterly dividend of $1.22. The ex-dividend date was Tuesday, June 30th. Grupo Cibest’s dividend payout ratio (DPR) is presently 147.78%.

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.