Abacus Wealth Partners LLC Purchases New Holdings in Grupo Cibest S.A. – Sponsored ADR $CIB

Abacus Wealth Partners LLC purchased a new stake in Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 18,581 shares of the bank’s stock, valued at approximately $1,182,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FNY Investment Advisers LLC purchased a new stake in shares of Grupo Cibest in the fourth quarter valued at about $31,000. TD Waterhouse Canada Inc. purchased a new stake in shares of Grupo Cibest in the fourth quarter valued at about $43,000. Tower Research Capital LLC TRC boosted its holdings in shares of Grupo Cibest by 796.3% in the second quarter. Tower Research Capital LLC TRC now owns 977 shares of the bank’s stock valued at $45,000 after acquiring an additional 868 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Grupo Cibest by 39.8% in the fourth quarter. GAMMA Investing LLC now owns 1,321 shares of the bank’s stock valued at $84,000 after acquiring an additional 376 shares in the last quarter. Finally, Grove Bank & Trust purchased a new stake in shares of Grupo Cibest in the fourth quarter valued at about $97,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CIB. Weiss Ratings downgraded Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, April 24th. Citigroup downgraded Grupo Cibest from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 21st. Itau BBA Securities downgraded Grupo Cibest from a “market perform” rating to an “underperform” rating and set a $68.00 target price for the company. in a research note on Thursday, February 26th. The Goldman Sachs Group increased their target price on Grupo Cibest from $69.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Finally, Zacks Research downgraded Grupo Cibest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Six investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Grupo Cibest presently has an average rating of “Reduce” and a consensus price target of $66.00.

Grupo Cibest Stock Performance

Shares of CIB stock opened at $63.11 on Friday. The company has a market cap of $15.18 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 0.92 and a beta of 0.71. The stock has a 50 day simple moving average of $69.94 and a 200-day simple moving average of $69.06. Grupo Cibest S.A. – Sponsored ADR has a 12-month low of $40.28 and a 12-month high of $86.31. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.41.

Grupo Cibest (NYSE:CIB) last issued its earnings results on Monday, May 4th. The bank reported $1.62 earnings per share (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 return on equity of 23.86% and a net margin of 8.41%. On average, equities analysts forecast that Grupo Cibest S.A. – Sponsored ADR will post 9.07 EPS for the current year.

Grupo Cibest Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 13th. Investors of record on Tuesday, March 31st were issued a $1.2182 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $4.87 dividend on an annualized basis and a dividend yield of 7.7%. Grupo Cibest’s dividend payout ratio is currently 136.11%.

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.