QRG Capital Management Inc. Boosts Holdings in Grupo Cibest S.A. – Sponsored ADR $CIB

QRG Capital Management Inc. increased its stake in shares of Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) by 13.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,001 shares of the bank’s stock after buying an additional 2,161 shares during the period. QRG Capital Management Inc.’s holdings in Grupo Cibest were worth $831,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. SVB Wealth LLC purchased a new stake in Grupo Cibest during the first quarter worth about $45,000. Aberdeen Group plc purchased a new position in Grupo Cibest during the first quarter valued at approximately $201,000. Malaga Cove Capital LLC purchased a new position in Grupo Cibest in the 1st quarter worth approximately $209,000. JBF Capital Inc. purchased a new position in Grupo Cibest in the 1st quarter worth approximately $241,000. Finally, Aigen Investment Management LP purchased a new position in Grupo Cibest in the 1st quarter worth approximately $241,000.

Grupo Cibest Trading Up 3.1%

Shares of CIB opened at $54.41 on Friday. The firm has a market cap of $13.08 billion, a price-to-earnings ratio of 8.26, a PEG ratio of 1.04 and a beta of 0.94. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.00 and a current ratio of 1.00. Grupo Cibest S.A. – Sponsored ADR has a fifty-two week low of $30.68 and a fifty-two week high of $54.72. The firm has a 50 day moving average price of $50.40 and a 200-day moving average price of $45.14.

Grupo Cibest (NYSE:CIB) last announced its quarterly earnings data on Thursday, August 7th. The bank reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.13. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.75 billion. Grupo Cibest had a net margin of 15.30% and a return on equity of 19.77%. As a group, equities research analysts forecast that Grupo Cibest S.A. – Sponsored ADR will post 6 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Bank of America reissued an “underperform” rating on shares of Grupo Cibest in a research note on Thursday, September 11th. Zacks Research raised shares of Grupo Cibest from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 24th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Grupo Cibest in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Grupo Cibest presently has an average rating of “Hold” and an average target price of $43.75.

Grupo Cibest Company Profile

Bancolombia SA, together with its subsidiaries, provides banking products and services in Colombia and internationally. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.