Aberdeen Group plc Increases Stock Holdings in Grupo Cibest S.A. – Sponsored ADR $CIB

Aberdeen Group plc lifted its stake in shares of Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) by 25.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,377 shares of the bank’s stock after purchasing an additional 1,291 shares during the quarter. Aberdeen Group plc’s holdings in Grupo Cibest were worth $296,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. QRG Capital Management Inc. increased its stake in Grupo Cibest by 9.4% in the 1st quarter. QRG Capital Management Inc. now owns 15,840 shares of the bank’s stock valued at $637,000 after buying an additional 1,364 shares during the period. Wealthquest Corp purchased a new stake in shares of Grupo Cibest in the first quarter valued at about $290,000. Pekin Hardy Strauss Inc. boosted its holdings in shares of Grupo Cibest by 68.9% in the first quarter. Pekin Hardy Strauss Inc. now owns 49,710 shares of the bank’s stock valued at $1,998,000 after acquiring an additional 20,285 shares in the last quarter. Ballentine Partners LLC increased its stake in shares of Grupo Cibest by 36.3% during the first quarter. Ballentine Partners LLC now owns 15,279 shares of the bank’s stock worth $614,000 after acquiring an additional 4,070 shares during the period. Finally, Triasima Portfolio Management inc. purchased a new position in Grupo Cibest during the first quarter worth about $1,768,000.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CIB. Zacks Research upgraded shares of Grupo Cibest from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Grupo Cibest in a report on Tuesday, October 14th. Finally, Bank of America reaffirmed an “underperform” rating on shares of Grupo Cibest in a report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Grupo Cibest presently has a consensus rating of “Hold” and an average price target of $43.75.

Grupo Cibest Stock Performance

NYSE:CIB opened at $56.95 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $13.69 billion, a P/E ratio of 8.64, a price-to-earnings-growth ratio of 1.12 and a beta of 0.94. The firm has a 50-day moving average price of $51.57 and a two-hundred day moving average price of $45.67. Grupo Cibest S.A. – Sponsored ADR has a twelve month low of $30.68 and a twelve month high of $57.40.

Grupo Cibest (NYSE:CIB) last released its quarterly earnings results on Thursday, August 7th. The bank reported $1.79 EPS for the quarter, beating the consensus estimate of $1.66 by $0.13. Grupo Cibest had a net margin of 15.30% and a return on equity of 19.77%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.75 billion. As a group, research analysts expect that Grupo Cibest S.A. – Sponsored ADR will post 6 earnings per share for the current fiscal year.

About Grupo Cibest

Bancolombia SA, together with its subsidiaries, provides banking products and services in Colombia and internationally. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.