AIA Group Ltd Buys Shares of 15,294 Grupo Cibest S.A. – Sponsored ADR $CIB

AIA Group Ltd bought a new position in Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 15,294 shares of the bank’s stock, valued at approximately $1,114,000.

Several other hedge funds also recently modified their holdings of the business. Millennium Management LLC boosted its holdings in Grupo Cibest by 527.0% in the first quarter. Millennium Management LLC now owns 316,877 shares of the bank’s stock worth $12,738,000 after purchasing an additional 266,341 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Grupo Cibest by 62.3% during the first quarter. Goldman Sachs Group Inc. now owns 142,018 shares of the bank’s stock valued at $5,709,000 after buying an additional 54,497 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Grupo Cibest by 288.4% in the second quarter. Marshall Wace LLP now owns 40,269 shares of the bank’s stock worth $1,860,000 after buying an additional 29,902 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Grupo Cibest in the second quarter worth about $349,000. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Grupo Cibest by 158.7% during 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 in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. The Goldman Sachs Group raised their price objective on Grupo Cibest from $71.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Weiss Ratings cut Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. Bank of America upgraded Grupo Cibest from an “underperform” rating to a “neutral” rating and increased their price target for the company from $68.00 to $75.00 in a report on Monday, June 1st. UBS Group lifted their price target on shares of Grupo Cibest from $52.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. Finally, 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. Eight analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Grupo Cibest currently has a consensus rating of “Reduce” and an average target price of $73.20.

Grupo Cibest Trading Up 0.6%

Shares of NYSE:CIB opened at $80.89 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.98 and a current ratio of 0.98. The stock’s 50-day moving average is $75.25 and its 200-day moving average is $73.69. The company has a market cap of $19.20 billion, a P/E ratio of 22.47, a P/E/G ratio of 0.92 and a beta of 0.67. Grupo Cibest S.A. – Sponsored ADR has a 52-week low of $43.20 and a 52-week high of $87.68.

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). The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $2.04 billion. Grupo Cibest had a net margin of 8.41% and a return on equity of 21.07%. Equities research analysts predict that Grupo Cibest S.A. – Sponsored ADR will post 8.87 earnings per share for the current year.

Grupo Cibest Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Tuesday, June 30th were issued a dividend of $1.304 per share. This represents a $5.22 dividend on an annualized basis and a dividend yield of 6.4%. This is a boost from Grupo Cibest’s previous quarterly dividend of $1.22. The ex-dividend date was Tuesday, June 30th. Grupo Cibest’s dividend payout ratio is presently 147.78%.

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.