Grupo Cibest (NYSE:CIB) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $71.91 and traded as high as $79.94. Grupo Cibest shares last traded at $79.8540, with a volume of 225,921 shares traded.

Wall Street Analysts Forecast Growth

CIB has been the subject of a number of research reports. Bank of America upgraded shares of Grupo Cibest from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $68.00 to $75.00 in a research report on Monday, June 1st. Weiss Ratings cut shares of Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. lifted their price objective on Grupo Cibest from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. Itau BBA Securities upgraded Grupo Cibest from a “strong sell” rating to a “market perform” rating in a report on Tuesday, May 26th. Finally, UBS Group raised their price target on Grupo Cibest from $52.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Eight investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $72.20.

Grupo Cibest Stock Down 1.4%

The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.20. The firm has a market cap of $18.58 billion, a PE ratio of 21.75, a P/E/G ratio of 0.91 and a beta of 0.70. The firm’s 50 day moving average is $72.03 and its 200-day moving average is $72.01.

Grupo Cibest (NYSE:CIB) last issued its quarterly earnings results on Monday, May 4th. The bank reported $1.62 earnings per share 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 business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $2.04 billion. As a group, equities 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 firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Tuesday, June 30th will be given a dividend of $1.304 per share. This represents a $5.22 annualized dividend and a yield of 6.7%. This is a boost from Grupo Cibest’s previous quarterly dividend of $1.22. The ex-dividend date is Tuesday, June 30th. Grupo Cibest’s dividend payout ratio (DPR) is currently 136.11%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. 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 position 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 valued at $171,604,000 after purchasing an additional 218,359 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Grupo Cibest by 4.3% in the third quarter. JPMorgan Chase & Co. now owns 980,426 shares of the bank’s stock valued at $50,923,000 after acquiring an additional 40,447 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Grupo Cibest during the 3rd quarter worth approximately $44,920,000. Finally, Sei Investments Co. boosted 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 valued at $39,895,000 after buying an additional 198,228 shares during the period.

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.