Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) Receives $72.20 Average Price Target from Brokerages

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) has earned an average rating of “Reduce” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $72.20.

A number of brokerages recently issued reports on CIB. JPMorgan Chase & Co. boosted their price target on Grupo Cibest from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, May 18th. UBS Group raised their price target on Grupo Cibest from $52.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. Weiss Ratings cut shares of Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, April 24th. Itau BBA Securities raised shares of Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research report on Tuesday, May 26th. Finally, Bank of America upgraded shares of Grupo Cibest from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $68.00 to $75.00 in a report on Monday, June 1st.

Grupo Cibest Trading Up 1.0%

CIB opened at $80.85 on Friday. The firm has a market cap of $19.19 billion, a P/E ratio of 22.46, a P/E/G ratio of 0.91 and a beta of 0.67. Grupo Cibest has a 12 month low of $43.20 and a 12 month high of $87.68. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average of $73.15 and a 200 day moving average of $72.85.

Grupo Cibest (NYSE:CIB) last announced its earnings results on Monday, May 4th. The bank reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.22). Grupo Cibest had a net margin of 8.41% and a return on equity of 21.07%. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $2.04 billion. As a group, research analysts forecast that Grupo Cibest will post 8.87 EPS for the current year.

Grupo Cibest Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Tuesday, June 30th will be issued a $1.304 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $5.22 dividend on an annualized basis and a dividend yield of 6.5%. This is an increase from Grupo Cibest’s previous quarterly dividend of $1.22. Grupo Cibest’s dividend payout ratio (DPR) is 147.78%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new position in Grupo Cibest during the second quarter valued at $206,000. PensionDanmark Pensionsforsikringsaktieselskab boosted its holdings in Grupo Cibest by 11.7% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 69,000 shares of the bank’s stock valued at $5,481,000 after purchasing an additional 7,200 shares during the last quarter. Bank of America Corp DE grew its position in Grupo Cibest by 9.1% during the 1st quarter. Bank of America Corp DE now owns 516,834 shares of the bank’s stock worth $37,631,000 after purchasing an additional 43,126 shares during the period. Strategic Investment Advisors MI acquired a new stake in Grupo Cibest during the 1st quarter worth about $134,000. Finally, Amundi raised its stake in shares of Grupo Cibest by 26.7% during the 1st quarter. Amundi now owns 495,535 shares of the bank’s stock valued at $36,080,000 after buying an additional 104,280 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.