Assetmark Inc. Boosts Stock Position in Grupo Cibest S.A. – Sponsored ADR $CIB

Assetmark Inc. grew its stake in shares of Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) by 46,580.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,229 shares of the bank’s stock after purchasing an additional 95,025 shares during the quarter. Assetmark Inc.’s holdings in Grupo Cibest were worth $6,934,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CIB. FNY Investment Advisers LLC bought a new position in shares of Grupo Cibest during the fourth quarter valued at approximately $31,000. Arax Advisory Partners grew its stake in Grupo Cibest by 2,525.0% during the 4th quarter. Arax Advisory Partners now owns 525 shares of the bank’s stock worth $33,000 after buying an additional 505 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Grupo Cibest by 105.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank’s stock valued at $35,000 after acquiring an additional 280 shares in the last quarter. TD Waterhouse Canada Inc. acquired a new position in Grupo Cibest during the 4th quarter valued at approximately $43,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Grupo Cibest by 89.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 753 shares of the bank’s stock valued at $48,000 after acquiring an additional 355 shares during the period.

Grupo Cibest Stock Performance

NYSE CIB opened at $83.86 on Wednesday. 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 market cap of $19.90 billion, a PE ratio of 23.30, a P/E/G ratio of 0.92 and a beta of 0.67. The stock has a fifty day simple moving average of $75.64 and a 200-day simple moving average of $73.83. Grupo Cibest S.A. – Sponsored ADR has a twelve month low of $43.20 and a twelve month high of $87.68.

Grupo Cibest (NYSE:CIB) last announced its quarterly 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 analyst estimates of $2.04 billion. Equities analysts anticipate 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 announced a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Tuesday, June 30th were given a $1.304 dividend. 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 is presently 147.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CIB shares. Zacks Research raised shares of Grupo Cibest from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Itau BBA Securities raised Grupo Cibest from a “strong sell” rating to a “market perform” rating in a report on Tuesday, May 26th. Weiss Ratings cut shares of Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. UBS Group raised their target price on Grupo Cibest from $52.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Grupo Cibest from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, May 18th. One investment 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $73.20.

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.