Grupo Cibest (NYSE:CIB) Sets New 12-Month High – Here’s Why

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $87.69 and last traded at $87.5730, with a volume of 57325 shares trading hands. The stock had previously closed at $86.79.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Bank of America raised Grupo Cibest from an “underperform” rating to a “neutral” rating and upped their price target for the company from $68.00 to $75.00 in a research note on Monday, June 1st. Zacks Research raised Grupo Cibest from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. The Goldman Sachs Group boosted their price objective on shares of Grupo Cibest from $71.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Grupo Cibest in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Grupo Cibest from $65.00 to $70.00 and gave the company a “neutral” rating in a research report 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $73.20.

Grupo Cibest Price Performance

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 company has a market capitalization of $20.44 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 0.98 and a beta of 0.67. The stock’s 50 day simple moving average is $76.97 and its 200-day simple moving average is $74.23.

Grupo Cibest (NYSE:CIB) last announced 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 net margin of 8.41% and a return on equity of 21.07%. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $2.04 billion. As a group, equities analysts forecast that Grupo Cibest S.A. – Sponsored ADR will post 8.87 earnings per share for the current fiscal year.

Grupo Cibest Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Tuesday, June 30th were paid a $1.304 dividend. This is an increase from Grupo Cibest’s previous quarterly dividend of $1.22. This represents a $5.22 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date was Tuesday, June 30th. Grupo Cibest’s payout ratio is presently 147.78%.

Institutional Investors Weigh In On Grupo Cibest

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC purchased a new position in shares of Grupo Cibest in the 4th quarter valued at about $31,000. Arax Advisory Partners increased its stake in Grupo Cibest by 2,525.0% in the fourth quarter. Arax Advisory Partners now owns 525 shares of the bank’s stock valued at $33,000 after purchasing an additional 505 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Grupo Cibest by 105.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank’s stock worth $35,000 after buying an additional 280 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new position in shares of Grupo Cibest in the 4th quarter valued at $43,000. Finally, Tower Research Capital LLC TRC lifted its position in Grupo Cibest by 796.3% in the second quarter. Tower Research Capital LLC TRC now owns 977 shares of the bank’s stock valued at $45,000 after acquiring an additional 868 shares during the last quarter.

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.