Grupo Cibest (NYSE:CIB) Shares Gap Up on Analyst Upgrade

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB)’s stock price gapped up before the market opened on Monday after Bank of America upgraded the stock from an underperform rating to a neutral rating. The stock had previously closed at $68.59, but opened at $74.60. Bank of America now has a $75.00 price target on the stock. Grupo Cibest shares last traded at $77.0550, with a volume of 345,923 shares traded.

A number of other equities analysts have also weighed in on the stock. Itau BBA Securities upgraded shares of Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research report on Tuesday, May 26th. Weiss Ratings lowered shares of Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, April 24th. UBS Group increased their price target on shares of Grupo Cibest from $52.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. The Goldman Sachs Group raised their price objective on shares of Grupo Cibest from $69.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. boosted their target price on Grupo Cibest from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. Eight investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Grupo Cibest has a consensus rating of “Reduce” and an average target price of $72.20.

Institutional Trading of Grupo Cibest

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in 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 buying an additional 67,986 shares during the period. Earnest Partners LLC lifted its holdings in shares of Grupo Cibest by 8.8% during the 4th quarter. Earnest Partners LLC now owns 2,697,747 shares of the bank’s stock valued at $171,604,000 after acquiring an additional 218,359 shares in the last quarter. JPMorgan Chase & Co. boosted its position 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 purchasing an additional 40,447 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Grupo Cibest during the 3rd quarter worth $44,920,000. Finally, Sei Investments Co. increased its holdings in Grupo Cibest by 29.8% in the 2nd quarter. Sei Investments Co. now owns 863,718 shares of the bank’s stock valued at $39,895,000 after purchasing an additional 198,228 shares in the last quarter.

Grupo Cibest Trading Up 12.5%

The firm has a fifty day moving average of $69.91 and a 200-day moving average of $69.71. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $18.31 billion, a price-to-earnings ratio of 21.44, a P/E/G ratio of 1.05 and a beta of 0.70.

Grupo Cibest (NYSE:CIB) last issued its quarterly earnings data on Monday, May 4th. The bank reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.22). The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $2.04 billion. Grupo Cibest had a net margin of 8.41% and a return on equity of 21.07%. As a group, equities analysts predict that Grupo Cibest S.A. – Sponsored ADR will post 8.62 earnings per share for the current fiscal year.

Grupo Cibest Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 13th. Investors of record on Tuesday, March 31st were paid a $1.2182 dividend. This represents a $4.87 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date was Tuesday, March 31st. Grupo Cibest’s dividend payout ratio (DPR) is 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.