Grupo Cibest (NYSE:CIB) Price Target Raised to $81.00 at The Goldman Sachs Group

Grupo Cibest (NYSE:CIB) had its price target lifted by The Goldman Sachs Group from $71.00 to $81.00 in a report published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the bank’s stock.

CIB has been the subject of several other reports. Itau BBA Securities upgraded shares of Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research report on Tuesday, May 26th. UBS Group raised their target price on Grupo Cibest from $52.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. raised their target price on Grupo Cibest from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, May 18th. Bank of America upgraded Grupo Cibest from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $68.00 to $75.00 in a research note on Monday, June 1st. Finally, Weiss Ratings cut Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, April 24th. Eight equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $73.20.

Grupo Cibest Trading Down 2.8%

CIB opened at $79.30 on Thursday. The stock has a market capitalization of $18.82 billion, a price-to-earnings ratio of 22.03, a P/E/G ratio of 0.93 and a beta of 0.67. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.20. Grupo Cibest has a twelve month low of $43.20 and a twelve month high of $87.68. The company has a 50-day simple moving average of $74.61 and a 200 day simple moving average of $73.46.

Grupo Cibest (NYSE:CIB) last released its earnings results on Monday, May 4th. The bank reported $1.62 EPS 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 the consensus estimate of $2.04 billion. Analysts predict that Grupo Cibest will post 8.87 EPS for the current fiscal year.

Grupo Cibest Increases Dividend

The business 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 annualized dividend and a dividend yield of 6.6%. 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 (DPR) is currently 147.78%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. E. Ohman J or Asset Management AB boosted its stake in shares of Grupo Cibest by 12.3% during the second quarter. E. Ohman J or Asset Management AB now owns 14,600 shares of the bank’s stock valued at $1,160,000 after purchasing an additional 1,600 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Grupo Cibest in the 2nd quarter valued at approximately $206,000. PensionDanmark Pensionsforsikringsaktieselskab increased its position in Grupo Cibest by 11.7% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 69,000 shares of the bank’s stock valued at $5,481,000 after acquiring an additional 7,200 shares during the period. Bank of America Corp DE raised its stake in shares of Grupo Cibest by 9.1% during the first quarter. Bank of America Corp DE now owns 516,834 shares of the bank’s stock valued at $37,631,000 after acquiring an additional 43,126 shares during the last quarter. Finally, Strategic Investment Advisors MI bought a new position in shares of Grupo Cibest during the first quarter valued at $134,000.

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.