Lazard Asset Management LLC Purchases 40,536 Shares of Grupo Cibest S.A. – Sponsored ADR $CIB

Lazard Asset Management LLC boosted its holdings in shares of Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) by 259.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,166 shares of the bank’s stock after acquiring an additional 40,536 shares during the period. Lazard Asset Management LLC’s holdings in Grupo Cibest were worth $4,089,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new stake in shares of Grupo Cibest in the fourth quarter worth about $31,000. Arax Advisory Partners lifted its holdings in shares of Grupo Cibest by 2,525.0% during the 4th quarter. Arax Advisory Partners now owns 525 shares of the bank’s stock valued at $33,000 after purchasing an additional 505 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Grupo Cibest by 105.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank’s stock valued at $35,000 after purchasing an additional 280 shares in the last quarter. TD Waterhouse Canada Inc. acquired a new position in shares of Grupo Cibest in the 4th quarter valued at approximately $43,000. Finally, Tower Research Capital LLC TRC grew 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 valued at $45,000 after purchasing an additional 868 shares during the period.

Grupo Cibest Stock Performance

CIB opened at $92.27 on Friday. Grupo Cibest S.A. – Sponsored ADR has a 52-week low of $43.20 and a 52-week high of $94.21. The firm has a market capitalization of $21.89 billion, a PE ratio of 25.63, a PEG ratio of 1.07 and a beta of 0.67. 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 business’s 50-day simple moving average is $79.50 and its 200 day simple moving average is $75.00.

Grupo Cibest (NYSE:CIB) last posted its quarterly earnings results 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 company 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, sell-side analysts expect that Grupo Cibest S.A. – Sponsored ADR will post 8.87 earnings per share for the current fiscal year.

Grupo Cibest Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Tuesday, June 30th were paid a $1.304 dividend. This is a boost from Grupo Cibest’s previous quarterly dividend of $1.22. This represents a $5.22 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend was Tuesday, June 30th. Grupo Cibest’s dividend payout ratio (DPR) is 147.50%.

Wall Street Analyst Weigh In

Several brokerages have commented on CIB. JPMorgan Chase & Co. raised their target price on shares of Grupo Cibest from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. Itau BBA Securities upgraded shares of Grupo Cibest from a “strong sell” rating to a “market perform” rating in a report on Tuesday, May 26th. Bank of America raised shares of 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 research report on Monday, June 1st. The Goldman Sachs Group upgraded shares of Grupo Cibest from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $81.00 to $98.00 in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Grupo Cibest in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $76.60.

Grupo Cibest 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.