Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) Receives $76.60 Consensus Price Target from Brokerages

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) has been assigned an average rating of “Hold” from the nine ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $76.60.

CIB has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on Grupo Cibest from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. UBS Group upped their target price on shares of Grupo Cibest from $52.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. The Goldman Sachs Group raised shares of Grupo Cibest from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $81.00 to $98.00 in a research report on Tuesday, July 28th. Zacks Research upgraded shares of Grupo Cibest from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Finally, Bank of America upgraded Grupo Cibest from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $68.00 to $75.00 in a research note on Monday, June 1st.

Grupo Cibest Stock Performance

NYSE CIB opened at $90.00 on Thursday. The company has a fifty day simple moving average of $80.76 and a 200 day simple moving average of $75.39. Grupo Cibest has a 12-month low of $45.02 and a 12-month high of $94.21. 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 company has a market cap of $21.36 billion, a P/E ratio of 25.00, a PEG ratio of 1.03 and a beta of 0.67.

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 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 the consensus estimate of $2.04 billion. Sell-side analysts predict that Grupo Cibest 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 was paid on Monday, July 13th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.304 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $5.22 annualized dividend and a dividend yield of 5.8%. This is a boost from Grupo Cibest’s previous quarterly dividend of $1.22. Grupo Cibest’s payout ratio is 147.78%.

Hedge Funds Weigh In On Grupo Cibest

Several institutional investors have recently added to or reduced their stakes in CIB. Itau Unibanco Holding S.A. lifted its position in shares of Grupo Cibest by 164.5% during the 4th quarter. Itau Unibanco Holding S.A. now owns 651,368 shares of the bank’s stock valued at $41,523,000 after buying an additional 405,098 shares during the last quarter. Millennium Management LLC lifted its holdings in Grupo Cibest by 527.0% during the first quarter. Millennium Management LLC now owns 316,877 shares of the bank’s stock valued at $12,738,000 after purchasing an additional 266,341 shares during the last quarter. Earnest Partners LLC boosted its position in Grupo Cibest by 8.8% during the fourth quarter. Earnest Partners LLC now owns 2,697,747 shares of the bank’s stock worth $171,604,000 after purchasing an additional 218,359 shares during the period. New York State Common Retirement Fund purchased a new position in shares of Grupo Cibest in the fourth quarter worth about $12,761,000. Finally, Sei Investments Co. raised its position in shares of Grupo Cibest by 29.8% in the second quarter. Sei Investments Co. now owns 863,718 shares of the bank’s stock valued at $39,895,000 after purchasing an additional 198,228 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.