Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) Increases Dividend to $1.30 Per Share

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) declared a quarterly dividend on Tuesday, June 16th. Shareholders of record on Tuesday, June 30th will be given a dividend of 1.304 per share by the bank on Monday, July 13th. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a 7.0% increase from Grupo Cibest’s previous quarterly dividend of $1.22.

Grupo Cibest has increased its dividend payment by an average of 0.2%per year over the last three years. Grupo Cibest has a payout ratio of 75.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Grupo Cibest to earn $9.14 per share next year, which means the company should continue to be able to cover its $4.89 annual dividend with an expected future payout ratio of 53.5%.

Grupo Cibest Price Performance

CIB stock traded up $1.42 during mid-day trading on Wednesday, hitting $80.67. The stock had a trading volume of 163,926 shares, compared to its average volume of 433,632. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.20. Grupo Cibest has a 52 week low of $42.08 and a 52 week high of $86.31. The firm has a market capitalization of $19.14 billion, a P/E ratio of 22.43, a P/E/G ratio of 1.22 and a beta of 0.70. The firm has a fifty day simple moving average of $70.97 and a 200 day simple moving average of $70.82.

Grupo Cibest (NYSE:CIB) last released its earnings results on Monday, May 4th. The bank reported $1.62 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.22). The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate 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 forecast that Grupo Cibest will post 8.65 EPS for the current year.

Institutional Investors Weigh In On Grupo Cibest

Several hedge funds have recently added to or reduced their stakes in CIB. FNY Investment Advisers LLC acquired a new stake in Grupo Cibest during the 4th quarter worth approximately $31,000. Arax Advisory Partners boosted its position in Grupo Cibest by 2,525.0% during 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 position in Grupo Cibest by 105.3% during 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. acquired a new stake in Grupo Cibest during the 4th quarter worth approximately $43,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Grupo Cibest by 796.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 977 shares of the bank’s stock worth $45,000 after purchasing an additional 868 shares during the period.

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.