Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) Receives Consensus Rating of “Reduce” from Brokerages

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) has been assigned an average recommendation of “Reduce” from the nine ratings firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $59.20.

CIB has been the subject of a number of research reports. The Goldman Sachs Group increased their price objective on Grupo Cibest from $69.00 to $76.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Citigroup cut shares of Grupo Cibest from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. Santander lowered shares of Grupo Cibest to an “underperform” rating in a research note on Wednesday, December 17th. Itau BBA Securities cut shares of Grupo Cibest from a “market perform” rating to an “underperform” rating and set a $68.00 price target for the company. in a research report on Thursday, February 26th. Finally, Zacks Research lowered shares of Grupo Cibest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th.

Grupo Cibest Trading Down 3.2%

CIB opened at $70.64 on Friday. The stock has a market cap of $16.99 billion, a PE ratio of 19.30, a PEG ratio of 1.26 and a beta of 0.83. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average of $74.64 and a 200-day moving average of $64.85. Grupo Cibest has a 52 week low of $35.44 and a 52 week high of $86.31.

Grupo Cibest Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $1.2182 per share. This represents a $4.87 annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Tuesday, March 31st. Grupo Cibest’s dividend payout ratio (DPR) is presently 110.93%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in Grupo Cibest by 22.7% in the second quarter. JPMorgan Chase & Co. now owns 939,979 shares of the bank’s stock worth $43,418,000 after acquiring an additional 173,734 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Grupo Cibest by 25.1% during the third quarter. Allianz Asset Management GmbH now owns 222,803 shares of the bank’s stock valued at $11,572,000 after acquiring an additional 44,666 shares in the last quarter. Coldstream Capital Management Inc. raised its position in shares of Grupo Cibest by 790.9% in the 2nd quarter. Coldstream Capital Management Inc. now owns 5,372 shares of the bank’s stock worth $248,000 after purchasing an additional 4,769 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Grupo Cibest by 20.1% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 78,130 shares of the bank’s stock worth $4,058,000 after purchasing an additional 13,078 shares in the last quarter. Finally, Thrivent Financial for Lutherans bought a new position in Grupo Cibest in the 3rd quarter worth about $4,113,000.

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.