Grupo Cibest (NYSE:CIB) Issues Quarterly Earnings Results, Beats Estimates By $1.18 EPS

Grupo Cibest (NYSE:CIB) released its quarterly earnings results on Monday. The bank reported $3.32 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $1.18, Zacks reports. Grupo Cibest had a net margin of 8.41% and a return on equity of 21.07%.

Grupo Cibest Trading Up 3.1%

CIB stock traded up $2.78 during midday trading on Monday, reaching $91.63. The company’s stock had a trading volume of 265,671 shares, compared to its average volume of 408,904. The business’s 50-day simple moving average is $81.57 and its 200-day simple moving average is $75.58. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.20. Grupo Cibest has a 52 week low of $46.93 and a 52 week high of $94.21. The stock has a market cap of $21.74 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 1.01 and a beta of 0.67.

Grupo Cibest Increases Dividend

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. increased its holdings in shares of Grupo Cibest by 164.5% in the fourth quarter. Itau Unibanco Holding S.A. now owns 651,368 shares of the bank’s stock worth $41,523,000 after acquiring an additional 405,098 shares in the last quarter. Millennium Management LLC lifted its stake in Grupo Cibest by 527.0% in the first quarter. Millennium Management LLC now owns 316,877 shares of the bank’s stock valued at $12,738,000 after buying an additional 266,341 shares in the last quarter. Earnest Partners LLC lifted 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 buying an additional 218,359 shares in the last quarter. New York State Common Retirement Fund acquired a new position in shares of Grupo Cibest in the fourth quarter valued at approximately $12,761,000. Finally, Sei Investments Co. boosted its holdings in shares of Grupo Cibest by 29.8% in the second 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 during the period.

Wall Street Analyst Weigh In

CIB has been the subject of a number of research analyst reports. Bank of America upgraded shares of Grupo Cibest from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $68.00 to $75.00 in a research note on Monday, June 1st. UBS Group increased their price target on Grupo Cibest from $52.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Zacks Research raised Grupo Cibest from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. JPMorgan Chase & Co. lifted their price objective on Grupo Cibest from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, May 18th. Finally, Itau BBA Securities upgraded Grupo Cibest from a “strong sell” rating to a “market perform” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Grupo Cibest has a consensus rating of “Hold” and a consensus target price of $76.60.

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.