Grupo Cibest S.A. – Sponsored ADR $CIB Shares Sold by Kerrisdale Advisers LLC

Kerrisdale Advisers LLC cut its stake in shares of Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) by 14.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,840 shares of the bank’s stock after selling 5,860 shares during the quarter. Kerrisdale Advisers LLC’s holdings in Grupo Cibest were worth $2,688,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Arax Advisory Partners lifted its holdings in shares of Grupo Cibest by 2,525.0% during the fourth quarter. Arax Advisory Partners now owns 525 shares of the bank’s stock valued at $33,000 after purchasing an additional 505 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Grupo Cibest by 105.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank’s stock worth $35,000 after purchasing an additional 280 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Grupo Cibest by 796.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 977 shares of the bank’s stock worth $45,000 after buying an additional 868 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in Grupo Cibest by 89.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 753 shares of the bank’s stock valued at $48,000 after buying an additional 355 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Grupo Cibest during the second quarter valued at about $79,000.

Grupo Cibest Price Performance

NYSE CIB opened at $97.00 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $23.02 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 0.74 and a beta of 0.67. The company has a 50 day simple moving average of $88.07 and a 200-day simple moving average of $77.42. Grupo Cibest S.A. – Sponsored ADR has a 52-week low of $49.39 and a 52-week high of $103.50.

Grupo Cibest (NYSE:CIB) last announced its quarterly earnings data on Monday, August 10th. The bank reported $3.32 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $1.18. Grupo Cibest had a net margin of 10.80% and a return on equity of 20.87%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.40 billion. Equities research analysts predict that Grupo Cibest S.A. – Sponsored ADR will post 10.87 earnings per share for the current fiscal year.

Grupo Cibest Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 8th will be issued a dividend of $1.6324 per share. The ex-dividend date is Tuesday, September 8th. Grupo Cibest’s dividend payout ratio (DPR) is currently 103.51%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Zacks Research raised shares of Grupo Cibest from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Weiss Ratings raised shares of Grupo Cibest from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 18th. Citigroup upgraded shares of Grupo Cibest from a “hold” rating to a “buy” rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. upgraded Grupo Cibest from a “neutral” rating to an “overweight” rating and increased their target price for the company from $70.00 to $110.00 in a report on Tuesday, August 11th. Finally, 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 research report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Grupo Cibest currently has an average rating of “Hold” and a consensus price target of $90.83.

Grupo Cibest 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.