Candriam S.C.A. Lowers Stock Position in Grupo Cibest S.A. – Sponsored ADR $CIB

Candriam S.C.A. decreased its holdings in Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) by 51.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 240,556 shares of the bank’s stock after selling 249,900 shares during the quarter. Candriam S.C.A.’s holdings in Grupo Cibest were worth $17,515,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. boosted its stake in shares of Grupo Cibest by 164.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 651,368 shares of the bank’s stock worth $41,523,000 after buying an additional 405,098 shares during the period. Millennium Management LLC lifted 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 grew its stake in shares of 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 purchasing an additional 218,359 shares during the last quarter. New York State Common Retirement Fund purchased a new position in shares of Grupo Cibest in the 4th quarter valued at approximately $12,761,000. Finally, Sei Investments Co. increased its holdings in shares of Grupo Cibest by 29.8% in the second quarter. Sei Investments Co. now owns 863,718 shares of the bank’s stock valued at $39,895,000 after purchasing an additional 198,228 shares during the period.

Grupo Cibest Trading Up 2.7%

NYSE CIB traded up $2.22 during mid-day trading on Friday, hitting $83.15. The company’s stock had a trading volume of 210,646 shares, compared to its average volume of 350,423. The firm has a market capitalization of $19.73 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 0.95 and a beta of 0.67. 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 S.A. – Sponsored ADR has a 52-week low of $43.20 and a 52-week high of $87.68. The stock’s fifty day simple moving average is $73.46 and its two-hundred day simple moving average is $72.92.

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

Grupo Cibest Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors 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 annualized dividend and a yield of 6.3%. This is an increase from Grupo Cibest’s previous quarterly dividend of $1.22. Grupo Cibest’s payout ratio is currently 147.78%.

Wall Street Analysts Forecast Growth

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

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.