Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) Short Interest Down 40.5% in June

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 539,891 shares, a decrease of 40.5% from the June 15th total of 907,587 shares. Based on an average trading volume of 491,342 shares, the short-interest ratio is currently 1.1 days. Currently, 0.2% of the company’s stock are sold short.

Grupo Cibest Trading Up 1.2%

NYSE:CIB traded up $0.94 during midday trading on Friday, hitting $80.41. The stock had a trading volume of 246,334 shares, compared to its average volume of 421,322. Grupo Cibest has a one year low of $43.20 and a one year high of $87.68. The stock has a 50-day moving average of $74.61 and a 200 day moving average of $73.46. The company has a market capitalization of $19.08 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 0.93 and a beta of 0.67. 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 (NYSE:CIB) last posted its earnings results on Monday, May 4th. The bank reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.22). The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Grupo Cibest had a net margin of 8.41% and a return on equity of 21.07%. As a group, sell-side analysts forecast that Grupo Cibest will post 8.87 EPS for the current year.

Grupo Cibest Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Tuesday, June 30th were issued a $1.304 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $5.22 dividend on an annualized basis and a dividend yield of 6.5%. This is an increase from Grupo Cibest’s previous quarterly dividend of $1.22. Grupo Cibest’s dividend payout ratio (DPR) is 147.78%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CIB. Itau Unibanco Holding S.A. raised its position in Grupo Cibest by 164.5% during the 4th quarter. Itau Unibanco Holding S.A. now owns 651,368 shares of the bank’s stock worth $41,523,000 after buying an additional 405,098 shares during the last quarter. Millennium Management LLC grew its holdings 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 purchasing an additional 266,341 shares during the period. Earnest Partners LLC increased its holdings in Grupo Cibest by 8.8% in the 4th quarter. Earnest Partners LLC now owns 2,697,747 shares of the bank’s stock worth $171,604,000 after acquiring an additional 218,359 shares in the last quarter. New York State Common Retirement Fund acquired a new position in shares of Grupo Cibest during the 4th quarter worth about $12,761,000. Finally, Sei Investments Co. raised its holdings in shares of Grupo Cibest by 29.8% during the second quarter. Sei Investments Co. now owns 863,718 shares of the bank’s stock valued at $39,895,000 after acquiring an additional 198,228 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CIB shares. Weiss Ratings cut Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, April 24th. Bank of America raised Grupo Cibest from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $68.00 to $75.00 in a report on Monday, June 1st. JPMorgan Chase & Co. raised their target price on shares of Grupo Cibest from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, May 18th. Itau BBA Securities upgraded Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research report on Tuesday, May 26th. Finally, UBS Group raised their price target on Grupo Cibest from $52.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. Eight research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $73.20.

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.