Grupo Cibest (NYSE:CIB) Sets New 1-Year High – Time to Buy?

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB)’s stock price hit a new 52-week high on Friday . The stock traded as high as $100.93 and last traded at $100.37, with a volume of 16736 shares trading hands. The stock had previously closed at $98.65.

Analysts Set New Price Targets

A number of equities research analysts have commented on CIB shares. Weiss Ratings raised shares of Grupo Cibest from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. JPMorgan Chase & Co. raised Grupo Cibest from a “neutral” rating to an “overweight” rating and increased their target price for the company from $70.00 to $110.00 in a report on Tuesday, August 11th. Royal Bank Of Canada set a $110.00 price target on Grupo Cibest in a report on Tuesday, August 11th. The Goldman Sachs Group raised their target price on Grupo Cibest from $98.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Finally, Zacks Research upgraded shares of Grupo Cibest from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $90.83.

Grupo Cibest Stock Performance

The stock has a market cap of $24.08 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 0.76 and a beta of 0.67. The stock’s 50 day moving average is $85.65 and its two-hundred day moving average is $76.54. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.18.

Grupo Cibest (NYSE:CIB) last posted its quarterly earnings data on Monday, August 10th. The bank reported $3.32 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $1.18. Grupo Cibest had a net margin of 10.80% and a return on equity of 20.87%. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.40 billion. Analysts anticipate that Grupo Cibest S.A. – Sponsored ADR will post 10.87 earnings per share for the current fiscal year.

Grupo Cibest Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Wednesday, September 30th will be given a $1.4438 dividend. This is a boost from Grupo Cibest’s previous quarterly dividend of $1.30. The ex-dividend date is Wednesday, September 30th. This represents a $5.78 annualized dividend and a yield of 5.7%. Grupo Cibest’s payout ratio is presently 103.70%.

Institutional Trading of Grupo Cibest

Hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its holdings in shares of Grupo Cibest by 527.0% in the first 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 during the period. Goldman Sachs Group Inc. grew its position in Grupo Cibest by 62.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 142,018 shares of the bank’s stock valued at $5,709,000 after buying an additional 54,497 shares during the last quarter. Marshall Wace LLP increased its stake in Grupo Cibest by 288.4% in the 2nd 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 period. Cerity Partners LLC acquired a new position in Grupo Cibest in the 2nd quarter valued at $349,000. Finally, Qube Research & Technologies Ltd raised its position in Grupo Cibest by 158.7% during the 2nd quarter. Qube Research & Technologies Ltd now owns 254,287 shares of the bank’s stock worth $11,746,000 after buying an additional 155,985 shares during the last quarter.

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.