Grupo Cibest (NYSE:CIB) Sets New 1-Year High Following Earnings Beat

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB)’s stock price reached a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $100.00 and last traded at $99.1360, with a volume of 89938 shares traded. The stock had previously closed at $91.47.

The bank reported $3.32 EPS for the quarter, beating the consensus estimate of $2.14 by $1.18. Grupo Cibest had a return on equity of 21.07% and a net margin of 8.41%.The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.28 billion.

Grupo Cibest Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Tuesday, June 30th were paid a $1.304 dividend. 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 yield of 5.3%. The ex-dividend date was Tuesday, June 30th. Grupo Cibest’s dividend payout ratio is 147.78%.

Wall Street Analysts Forecast Growth

CIB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised Grupo Cibest from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $110.00 in a report on Tuesday. Itau BBA Securities raised Grupo Cibest from a “strong sell” rating to a “market perform” rating in a report on Tuesday, May 26th. Royal Bank Of Canada set a $110.00 price objective on shares of Grupo Cibest in a research report on Tuesday. The Goldman Sachs Group upgraded shares of Grupo Cibest from a “neutral” rating to a “buy” rating and upped their price objective for the company from $81.00 to $98.00 in a report on Tuesday, July 28th. Finally, Bank of America raised shares of Grupo Cibest from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $68.00 to $75.00 in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $88.83.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arax Advisory Partners increased its position in Grupo Cibest by 2,525.0% during the 4th quarter. Arax Advisory Partners now owns 525 shares of the bank’s stock worth $33,000 after buying an additional 505 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Grupo Cibest by 105.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank’s stock valued at $35,000 after acquiring an additional 280 shares during the period. TD Waterhouse Canada Inc. bought a new stake in shares of Grupo Cibest in the fourth quarter valued at about $43,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Grupo Cibest by 89.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 753 shares of the bank’s stock valued at $48,000 after acquiring an additional 355 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake 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.

Grupo Cibest Trading Up 7.8%

The firm has a market capitalization of $23.39 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 1.01 and a beta of 0.67. The business’s 50-day moving average is $81.93 and its 200 day moving average is $75.68. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.98 and a quick ratio of 0.98.

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.