Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) Sees Large Growth in Short Interest

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) was the target of a large increase in short interest in July. As of July 31st, there was short interest totaling 710,627 shares, an increase of 55.9% from the July 15th total of 455,922 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 307,428 shares, the short-interest ratio is currently 2.3 days.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CIB. JPMorgan Chase & Co. upgraded Grupo Cibest from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $110.00 in a research note on Tuesday, August 11th. Itau BBA Securities upgraded Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research report on Tuesday, May 26th. Citigroup upgraded Grupo Cibest from a “hold” rating to a “buy” rating in a research report on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of Grupo Cibest in a report on Tuesday, July 21st. Finally, Zacks Research raised shares of Grupo Cibest from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $90.83.

Institutional Trading of Grupo Cibest

Several large investors have recently modified their holdings of CIB. Vanguard Group Inc. raised its position in shares of Grupo Cibest by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 3,089,670 shares of the bank’s stock worth $196,534,000 after purchasing an additional 67,986 shares during the last quarter. Earnest Partners LLC lifted its stake in Grupo Cibest by 8.8% in the 4th quarter. Earnest Partners LLC now owns 2,697,747 shares of the bank’s stock valued at $171,604,000 after buying an additional 218,359 shares in the last quarter. Sei Investments Co. grew its holdings 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 buying an additional 198,228 shares during the last quarter. Itau Unibanco Holding S.A. grew its holdings 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 valued at $41,523,000 after buying an additional 405,098 shares during the last quarter. Finally, State Street Corp increased its position in Grupo Cibest by 1.6% during the fourth quarter. State Street Corp now owns 597,639 shares of the bank’s stock worth $38,016,000 after buying an additional 9,259 shares in the last quarter.

Grupo Cibest Trading Down 0.0%

NYSE:CIB opened at $96.34 on Tuesday. Grupo Cibest has a 52-week low of $48.59 and a 52-week high of $100.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.18. The stock has a fifty day simple moving average of $84.37 and a 200-day simple moving average of $76.21. The company has a market capitalization of $22.86 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 0.74 and a beta of 0.67.

Grupo Cibest (NYSE:CIB) last issued 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. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Grupo Cibest had a net margin of 10.80% and a return on equity of 20.87%. On average, equities research analysts expect that Grupo Cibest will post 10.87 earnings per share for the current fiscal year.

Grupo Cibest Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Tuesday, June 30th were issued a $1.304 dividend. This represents a $5.22 annualized dividend and a dividend yield of 5.4%. This is a boost from Grupo Cibest’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Tuesday, June 30th. Grupo Cibest’s payout ratio is currently 103.70%.

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.