ABN Amro Investment Solutions Grows Position in Grupo Cibest S.A. – Sponsored ADR $CIB

ABN Amro Investment Solutions boosted its stake in shares of Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) by 36.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 249,345 shares of the bank’s stock after purchasing an additional 66,400 shares during the period. ABN Amro Investment Solutions’ holdings in Grupo Cibest were worth $18,155,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Grupo Cibest by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 3,089,670 shares of the bank’s stock valued at $196,534,000 after acquiring an additional 67,986 shares during the period. Earnest Partners LLC raised its holdings 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 worth $171,604,000 after purchasing an additional 218,359 shares during the period. Sei Investments Co. raised its holdings in shares of Grupo Cibest by 29.8% in the 2nd quarter. Sei Investments Co. now owns 863,718 shares of the bank’s stock worth $39,895,000 after purchasing an additional 198,228 shares during the period. Itau Unibanco Holding S.A. increased its position in shares of Grupo Cibest by 164.5% in the fourth quarter. Itau Unibanco Holding S.A. now owns 651,368 shares of the bank’s stock worth $41,523,000 after acquiring an additional 405,098 shares in the last quarter. Finally, State Street Corp boosted its position in Grupo Cibest by 1.6% during the 4th quarter. State Street Corp now owns 597,639 shares of the bank’s stock worth $38,016,000 after purchasing an additional 9,259 shares during the period.

Wall Street Analysts Forecast Growth

CIB has been the subject of several recent research reports. UBS Group increased their price target on Grupo Cibest from $52.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. Itau BBA Securities upgraded Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research note on Tuesday, May 26th. Bank of America raised Grupo Cibest from an “underperform” rating to a “neutral” rating and upped their target price for the stock 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 research note on Friday, April 24th. Finally, Zacks Research upgraded Grupo Cibest from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Grupo Cibest currently has an average rating of “Hold” and an average price target of $73.20.

Grupo Cibest Stock Performance

NYSE:CIB opened at $83.86 on Wednesday. The firm has a 50-day moving average of $75.64 and a two-hundred day moving average of $73.83. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $19.90 billion, a P/E ratio of 23.30, a PEG ratio of 0.92 and a beta of 0.67. Grupo Cibest S.A. – Sponsored ADR has a 1-year low of $43.20 and a 1-year 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 (EPS) for the quarter, missing analysts’ consensus estimates 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. On average, research analysts expect that Grupo Cibest S.A. – Sponsored ADR will post 8.87 earnings per share for the current fiscal year.

Grupo Cibest Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Tuesday, June 30th were issued a dividend of $1.304 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $5.22 annualized dividend and a yield of 6.2%. This is an increase from Grupo Cibest’s previous quarterly dividend of $1.22. Grupo Cibest’s dividend payout ratio (DPR) is 147.78%.

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.