Grupo Cibest (NYSE:CIB) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $71.91 and traded as high as $79.94. Grupo Cibest shares last traded at $79.8540, with a volume of 225,921 shares traded.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Itau BBA Securities upgraded shares of Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research note on Tuesday, May 26th. Weiss Ratings downgraded Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, April 24th. UBS Group upped their target price on Grupo Cibest from $52.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. increased their price target on Grupo Cibest from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, May 18th. Finally, Bank of America upgraded Grupo Cibest from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $68.00 to $75.00 in a report on Monday, June 1st. Eight research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $72.20.

Grupo Cibest Trading Up 0.7%

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 firm has a market cap of $18.95 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 0.91 and a beta of 0.70. The firm’s 50-day simple moving average is $71.92 and its 200 day simple moving average is $71.91.

Grupo Cibest (NYSE:CIB) last released its earnings results on Monday, May 4th. The bank reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.22). Grupo Cibest had a net margin of 8.41% and a return on equity of 21.07%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $2.04 billion. As a group, analysts expect that Grupo Cibest S.A. – Sponsored ADR will post 8.87 earnings per share for the current year.

Grupo Cibest Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Tuesday, June 30th will be paid a $1.304 dividend. The ex-dividend date is Tuesday, June 30th. This is a positive change from Grupo Cibest’s previous quarterly dividend of $1.22. This represents a $5.22 annualized dividend and a yield of 6.5%. Grupo Cibest’s dividend payout ratio (DPR) is currently 136.11%.

Institutional Trading of Grupo Cibest

A number of large investors have recently bought and sold shares of the company. Millennium Management LLC raised its stake in shares of Grupo Cibest by 527.0% in the first quarter. Millennium Management LLC now owns 316,877 shares of the bank’s stock valued at $12,738,000 after buying an additional 266,341 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Grupo Cibest by 62.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 142,018 shares of the bank’s stock worth $5,709,000 after acquiring an additional 54,497 shares during the period. Marshall Wace LLP grew its stake in shares of Grupo Cibest by 288.4% during the 2nd quarter. Marshall Wace LLP now owns 40,269 shares of the bank’s stock worth $1,860,000 after acquiring an additional 29,902 shares during the period. Cerity Partners LLC bought a new position in shares of Grupo Cibest during the 2nd quarter worth $349,000. Finally, Qube Research & Technologies Ltd increased its holdings in Grupo Cibest by 158.7% in the 2nd quarter. Qube Research & Technologies Ltd now owns 254,287 shares of the bank’s stock worth $11,746,000 after acquiring an additional 155,985 shares during 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.