Triasima Portfolio Management inc. Acquires 60,680 Shares of Grupo Cibest S.A. – Sponsored ADR $CIB

Triasima Portfolio Management inc. boosted its holdings in shares of Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) by 138.0% in the 2nd quarter, Holdings Channel reports. The firm owned 104,655 shares of the bank’s stock after buying an additional 60,680 shares during the period. Triasima Portfolio Management inc.’s holdings in Grupo Cibest were worth $4,834,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Measured Wealth Private Client Group LLC lifted its stake in Grupo Cibest by 7.9% during the first quarter. Measured Wealth Private Client Group LLC now owns 9,548 shares of the bank’s stock worth $384,000 after purchasing an additional 700 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of Grupo Cibest by 5.2% in the 2nd quarter. Ballentine Partners LLC now owns 16,074 shares of the bank’s stock valued at $742,000 after acquiring an additional 795 shares during the last quarter. US Bancorp DE lifted its stake in shares of Grupo Cibest by 14.3% in the 1st quarter. US Bancorp DE now owns 6,394 shares of the bank’s stock valued at $257,000 after acquiring an additional 800 shares during the last quarter. SVB Wealth LLC bought a new position in shares of Grupo Cibest in the 1st quarter valued at $45,000. Finally, QRG Capital Management Inc. lifted its stake in shares of Grupo Cibest by 9.4% in the 1st quarter. QRG Capital Management Inc. now owns 15,840 shares of the bank’s stock valued at $637,000 after acquiring an additional 1,364 shares during the last quarter.

Wall Street Analyst Weigh In

CIB has been the subject of a number of research reports. Bank of America reiterated an “underperform” rating on shares of Grupo Cibest in a research note on Thursday, September 11th. Zacks Research upgraded Grupo Cibest from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 24th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Grupo Cibest in a research note on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Grupo Cibest currently has an average rating of “Hold” and a consensus target price of $43.75.

Grupo Cibest Price Performance

Shares of NYSE CIB opened at $51.94 on Wednesday. Grupo Cibest S.A. – Sponsored ADR has a fifty-two week low of $30.65 and a fifty-two week high of $53.99. The stock has a market cap of $12.49 billion, a price-to-earnings ratio of 7.88, a PEG ratio of 1.03 and a beta of 0.94. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s 50-day simple moving average is $50.00 and its 200 day simple moving average is $45.01.

Grupo Cibest (NYSE:CIB) last announced its quarterly earnings results on Thursday, August 7th. The bank reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.13. Grupo Cibest had a net margin of 15.30% and a return on equity of 19.77%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.75 billion. As a group, research analysts anticipate that Grupo Cibest S.A. – Sponsored ADR will post 6 earnings per share for the current fiscal year.

About Grupo Cibest

Bancolombia SA, together with its subsidiaries, provides banking products and services in Colombia and internationally. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.