Grupo Cibest (NYSE:CIB) Reaches New 1-Year High – What’s Next?

Shares of Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $91.60 and last traded at $89.4410, with a volume of 374913 shares trading hands. The stock had previously closed at $89.07.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CIB. Weiss Ratings reiterated a “hold (c)” rating on shares of Grupo Cibest in a report on Tuesday, July 21st. JPMorgan Chase & Co. boosted their target price on Grupo Cibest from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. The Goldman Sachs Group upgraded Grupo Cibest from a “neutral” rating to a “buy” rating and upped their target price for the company from $81.00 to $98.00 in a report on Tuesday. UBS Group raised their price target on Grupo Cibest from $52.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Finally, Zacks Research upgraded shares of Grupo Cibest from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $76.60.

Grupo Cibest Trading Down 1.7%

The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.20. The company has a market cap of $21.89 billion, a PE ratio of 25.63, a PEG ratio of 1.07 and a beta of 0.67. The stock has a 50 day moving average price of $79.50 and a 200 day moving average price of $75.00.

Grupo Cibest (NYSE:CIB) last announced its earnings results on Monday, May 4th. The bank reported $1.62 EPS 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 the consensus estimate of $2.04 billion. Grupo Cibest had a net margin of 8.41% and a return on equity of 21.07%. Sell-side analysts predict that Grupo Cibest S.A. – Sponsored ADR will post 8.87 EPS for the current fiscal year.

Grupo Cibest Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Tuesday, June 30th were given a $1.304 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $5.22 dividend on an annualized basis and a dividend yield of 5.7%. This is an increase from Grupo Cibest’s previous quarterly dividend of $1.22. Grupo Cibest’s payout ratio is presently 147.50%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CIB. Millennium Management LLC increased its stake in Grupo Cibest by 527.0% during the 1st quarter. Millennium Management LLC now owns 316,877 shares of the bank’s stock valued at $12,738,000 after purchasing an additional 266,341 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Grupo Cibest by 62.3% in the first quarter. Goldman Sachs Group Inc. now owns 142,018 shares of the bank’s stock worth $5,709,000 after buying an additional 54,497 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Grupo Cibest by 288.4% during the second quarter. Marshall Wace LLP now owns 40,269 shares of the bank’s stock valued at $1,860,000 after buying an additional 29,902 shares during the last quarter. Cerity Partners LLC purchased a new stake in shares of Grupo Cibest during the second quarter valued at approximately $349,000. Finally, Qube Research & Technologies Ltd increased its position in shares of Grupo Cibest by 158.7% during the second quarter. Qube Research & Technologies Ltd now owns 254,287 shares of the bank’s stock valued at $11,746,000 after acquiring an additional 155,985 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.