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

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) was the target of a large increase in short interest in July. As of July 31st, there was short interest totaling 710,627 shares, an increase of 55.9% from the July 15th total of 455,922 shares. Based on an average daily volume of 307,428 shares, the days-to-cover ratio is presently 2.3 days. Currently, 0.3% of the company’s stock are short sold.

Institutional Trading of Grupo Cibest

Several institutional investors and hedge funds have recently bought and sold shares of CIB. Vanguard Group Inc. increased its holdings in shares of Grupo Cibest by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 3,089,670 shares of the bank’s stock worth $196,534,000 after acquiring an additional 67,986 shares during the last quarter. Fundamenta Capital S.A. bought a new position in Grupo Cibest during the fourth quarter worth $1,908,000. ABN Amro Investment Solutions boosted its position in Grupo Cibest by 110.7% during the fourth quarter. ABN Amro Investment Solutions now owns 182,945 shares of the bank’s stock worth $11,637,000 after purchasing an additional 96,109 shares during the period. Bank of America Corp DE increased its holdings in shares of Grupo Cibest by 9.1% in the first quarter. Bank of America Corp DE now owns 516,834 shares of the bank’s stock valued at $37,631,000 after purchasing an additional 43,126 shares during the last quarter. Finally, Triasima Portfolio Management inc. increased its holdings in shares of Grupo Cibest by 32.5% in the fourth quarter. Triasima Portfolio Management inc. now owns 139,897 shares of the bank’s stock valued at $8,899,000 after purchasing an additional 34,280 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have weighed in on CIB. JPMorgan Chase & Co. raised shares of Grupo Cibest from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $110.00 in a research note on Tuesday, August 11th. UBS Group boosted their price objective on shares of Grupo Cibest from $52.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. Itau BBA Securities upgraded Grupo Cibest from a “strong sell” rating to a “market perform” rating in a report on Tuesday, May 26th. Citigroup upgraded Grupo Cibest from a “hold” rating to a “buy” rating in a report on Thursday, August 13th. Finally, Bank of America upgraded Grupo Cibest from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $68.00 to $75.00 in a report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Grupo Cibest currently has an average rating of “Hold” and a consensus target price of $90.83.

Grupo Cibest Stock Performance

CIB opened at $99.58 on Thursday. The business’s 50-day simple moving average is $85.30 and its 200 day simple moving average is $76.42. Grupo Cibest has a 52-week low of $48.59 and a 52-week high of $100.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $23.63 billion, a PE ratio of 19.41, a PEG ratio of 0.74 and a beta of 0.67.

Grupo Cibest (NYSE:CIB) last posted its quarterly earnings results on Monday, August 10th. The bank reported $3.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $1.18. Grupo Cibest had a return on equity of 20.87% and a net margin of 10.80%.The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.40 billion. As a group, sell-side analysts expect that Grupo Cibest will post 10.87 earnings per share for the current fiscal year.

Grupo Cibest Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Wednesday, September 30th will be issued a dividend of $1.4438 per share. The ex-dividend date is Wednesday, September 30th. This is an increase from Grupo Cibest’s previous quarterly dividend of $1.30. This represents a $5.78 dividend on an annualized basis and a yield of 5.8%. Grupo Cibest’s dividend payout ratio is 103.70%.

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.