Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) Given Average Recommendation of “Reduce” by Brokerages

Shares of Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) have received a consensus recommendation of “Reduce” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $72.20.

A number of research analysts have recently commented on the company. Bank of America upgraded Grupo Cibest from an “underperform” rating to a “neutral” rating and increased their target price for the company from $68.00 to $75.00 in a research report on Monday, June 1st. Weiss Ratings cut shares of Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. Itau BBA Securities raised shares of Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research note on Tuesday, May 26th. UBS Group increased their price objective on shares of Grupo Cibest from $52.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Grupo Cibest from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th.

Grupo Cibest Price Performance

Shares of NYSE:CIB traded up $2.22 during mid-day trading on Friday, reaching $83.15. The stock had a trading volume of 210,646 shares, compared to its average volume of 350,423. The business’s 50 day moving average price is $73.46 and its 200 day moving average price is $72.92. Grupo Cibest has a 1 year low of $43.20 and a 1 year high of $87.68. The company has a market cap of $19.73 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 0.95 and a beta of 0.67. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.20.

Grupo Cibest (NYSE:CIB) last released its quarterly earnings results on Monday, May 4th. The bank reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.22). Grupo Cibest had a net margin of 8.41% and a return on equity of 21.07%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Research analysts expect that Grupo Cibest will post 8.87 EPS for the current fiscal year.

Grupo Cibest Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Tuesday, June 30th will be issued a dividend of $1.304 per share. This represents a $5.22 annualized dividend and a yield of 6.3%. The ex-dividend date is Tuesday, June 30th. This is a positive change from Grupo Cibest’s previous quarterly dividend of $1.22. Grupo Cibest’s payout ratio is currently 147.78%.

Institutional Trading of Grupo Cibest

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Grupo Cibest by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 3,089,670 shares of the bank’s stock valued at $196,534,000 after acquiring an additional 67,986 shares in the last quarter. Earnest Partners LLC grew its stake in Grupo Cibest by 8.8% in the fourth quarter. Earnest Partners LLC now owns 2,697,747 shares of the bank’s stock valued at $171,604,000 after purchasing an additional 218,359 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Grupo Cibest by 4.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 980,426 shares of the bank’s stock worth $50,923,000 after buying an additional 40,447 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Grupo Cibest during the third quarter worth $44,920,000. Finally, Sei Investments Co. increased its position in Grupo Cibest by 29.8% during the 2nd quarter. Sei Investments Co. now owns 863,718 shares of the bank’s stock valued at $39,895,000 after buying an additional 198,228 shares in the last quarter.

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.