Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) Receives Consensus Recommendation of “Hold” from Analysts

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) has earned an average recommendation of “Hold” from the nine brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $76.60.

A number of research firms recently weighed in on CIB. The Goldman Sachs Group upgraded Grupo Cibest from a “neutral” rating to a “buy” rating and increased their price target for the company from $81.00 to $98.00 in a research report on Tuesday. 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. Bank of America upgraded shares of 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. Zacks Research raised shares of Grupo Cibest from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Grupo Cibest in a research report on Tuesday, July 21st.

Grupo Cibest Stock Performance

CIB opened at $89.44 on Thursday. The firm has a market cap of $21.22 billion, a PE ratio of 24.84, a P/E/G ratio of 1.02 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. The business has a fifty day simple moving average of $78.43 and a 200-day simple moving average of $74.72. Grupo Cibest has a fifty-two week low of $43.20 and a fifty-two week high of $91.60.

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 company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $2.04 billion. Grupo Cibest had a return on equity of 21.07% and a net margin of 8.41%. As a group, equities analysts predict that Grupo Cibest will post 8.87 EPS for the current fiscal year.

Grupo Cibest Increases Dividend

The firm also recently announced 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 is an increase from Grupo Cibest’s previous quarterly dividend of $1.22. This represents a $5.22 dividend on an annualized basis and a dividend yield of 5.8%. Grupo Cibest’s dividend payout ratio is currently 147.78%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CIB. Itau Unibanco Holding S.A. raised its position in Grupo Cibest by 164.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 651,368 shares of the bank’s stock valued at $41,523,000 after buying an additional 405,098 shares during the period. Millennium Management LLC boosted its position in Grupo Cibest by 527.0% during the 1st quarter. Millennium Management LLC now owns 316,877 shares of the bank’s stock worth $12,738,000 after acquiring an additional 266,341 shares during the period. Earnest Partners LLC boosted its position in Grupo Cibest by 8.8% during 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 during the period. New York State Common Retirement Fund purchased a new position in Grupo Cibest during the 4th quarter valued at about $12,761,000. Finally, Sei Investments Co. grew its stake 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 acquiring an additional 198,228 shares in the last quarter.

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.