Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) Receives Average Rating of “Reduce” from Brokerages

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) has earned a consensus rating of “Reduce” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $59.20.

A number of equities research analysts have commented on CIB shares. Itau BBA Securities cut Grupo Cibest from a “market perform” rating to an “underperform” rating and set a $68.00 price target for the company. in a research note on Thursday, February 26th. The Goldman Sachs Group upped their price objective on shares of Grupo Cibest from $69.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Citigroup lowered shares of Grupo Cibest from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Grupo Cibest in a research note on Friday, March 27th. Finally, Zacks Research downgraded shares of Grupo Cibest from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th.

Grupo Cibest Stock Performance

Shares of CIB stock opened at $72.27 on Friday. Grupo Cibest has a 12-month low of $35.44 and a 12-month high of $86.31. The business’s fifty day simple moving average is $74.05 and its 200-day simple moving average is $65.50. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.26. The company has a market cap of $17.38 billion, a PE ratio of 19.75, a PEG ratio of 1.25 and a beta of 0.80.

Grupo Cibest Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $1.2182 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $4.87 dividend on an annualized basis and a dividend yield of 6.7%. Grupo Cibest’s payout ratio is 127.60%.

Hedge Funds Weigh In On Grupo Cibest

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Grupo Cibest during the 3rd quarter valued at about $44,920,000. Itau Unibanco Holding S.A. boosted its holdings in Grupo Cibest by 164.5% in the fourth quarter. Itau Unibanco Holding S.A. now owns 651,368 shares of the bank’s stock valued at $41,523,000 after purchasing an additional 405,098 shares during the last quarter. Millennium Management LLC grew its position in Grupo Cibest by 527.0% during the 1st quarter. Millennium Management LLC now owns 316,877 shares of the bank’s stock worth $12,738,000 after purchasing an additional 266,341 shares during the period. Earnest Partners LLC grew its position in Grupo Cibest by 8.8% during the 4th 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. Finally, New York State Common Retirement Fund purchased a new position in shares of Grupo Cibest during the 4th quarter valued at about $12,761,000.

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.