Grupo Cibest (NYSE:CIB) Sets New 12-Month High Following Dividend Announcement

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) hit a new 52-week high on Thursday following a dividend announcement from the company. The stock traded as high as $103.50 and last traded at $100.91, with a volume of 233498 shares trading hands. The stock had previously closed at $103.26.

The newly announced dividend which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 8th will be paid a dividend of $1.6324 per share. The ex-dividend date of this dividend is Tuesday, September 8th. Grupo Cibest’s payout ratio is currently 103.70%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Itau BBA Securities raised shares of Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research report on Tuesday, May 26th. Weiss Ratings upgraded Grupo Cibest from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 18th. Bank of America raised Grupo Cibest from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $68.00 to $75.00 in a research report on Monday, June 1st. JPMorgan Chase & Co. upgraded Grupo Cibest from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $110.00 in a research note on Tuesday, August 11th. Finally, The Goldman Sachs Group lifted 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. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Grupo Cibest presently has a consensus rating of “Hold” and a consensus target price of $90.83.

Grupo Cibest Stock Performance

The firm’s fifty day moving average price is $88.07 and its 200 day moving average price is $77.44. The firm has a market cap of $23.02 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 0.75 and a beta of 0.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.99 and a current ratio of 0.99.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Arax Advisory Partners raised its position in shares of Grupo Cibest by 2,525.0% in the 4th quarter. Arax Advisory Partners now owns 525 shares of the bank’s stock worth $33,000 after acquiring an additional 505 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Grupo Cibest by 105.3% during the fourth 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. Tower Research Capital LLC TRC grew its stake in Grupo Cibest by 796.3% in the second 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 last quarter. Caitong International Asset Management Co. Ltd grew its stake in Grupo Cibest by 89.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 753 shares of the bank’s stock valued at $48,000 after purchasing an additional 355 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Grupo Cibest in the second quarter worth about $79,000.

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.