Grupo Cibest (NYSE:CIB) Price Target Raised to $81.00

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

Several other analysts also recently issued reports on the company. UBS Group raised their price target on Grupo Cibest from $52.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Weiss Ratings downgraded Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, April 24th. Itau BBA Securities raised Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research report on Tuesday, May 26th. 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 research note on Monday, May 18th. Finally, Bank of America raised shares of Grupo Cibest from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $68.00 to $75.00 in a report on Monday, June 1st. Eight analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $73.20.

Grupo Cibest Price Performance

Shares of NYSE:CIB opened at $80.41 on Thursday. The company has a market cap of $19.08 billion, a PE ratio of 22.34, a P/E/G ratio of 0.92 and a beta of 0.67. Grupo Cibest has a fifty-two week low of $43.20 and a fifty-two week high of $87.68. The firm has a 50-day simple moving average of $74.91 and a 200 day simple moving average of $73.51. 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 (NYSE:CIB) last issued 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 during the quarter, compared to the consensus estimate of $2.04 billion. On average, sell-side analysts anticipate that Grupo Cibest will post 8.87 EPS for the current year.

Grupo Cibest Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Tuesday, June 30th were issued a $1.304 dividend. This is a positive change from Grupo Cibest’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $5.22 dividend on an annualized basis and a yield of 6.5%. Grupo Cibest’s dividend payout ratio is currently 147.78%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 67,986 shares in the last quarter. Fundamenta Capital S.A. acquired a new stake in Grupo Cibest in the fourth quarter worth about $1,908,000. Mirabella Financial Services LLP bought a new position in Grupo Cibest in the 3rd quarter valued at about $820,000. ABN Amro Investment Solutions grew its position in Grupo Cibest by 110.7% in the 4th quarter. ABN Amro Investment Solutions now owns 182,945 shares of the bank’s stock valued at $11,637,000 after buying an additional 96,109 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Grupo Cibest by 4.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 980,426 shares of the bank’s stock valued at $50,923,000 after buying an additional 40,447 shares during the period.

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.