Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) Plans Dividend Increase – $1.30 Per Share

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) declared a quarterly dividend on Tuesday, June 16th. Investors of record on Tuesday, June 30th will be paid a dividend of 1.304 per share by the bank on Monday, July 13th. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a 7.0% increase from Grupo Cibest’s previous quarterly dividend of $1.22.

Grupo Cibest has increased its dividend by an average of 0.2%annually over the last three years. Grupo Cibest has a payout ratio of 75.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Grupo Cibest to earn $9.14 per share next year, which means the company should continue to be able to cover its $4.89 annual dividend with an expected future payout ratio of 53.5%.

Grupo Cibest Trading Up 1.8%

NYSE CIB traded up $1.42 during trading hours on Wednesday, hitting $80.67. The company’s stock had a trading volume of 163,926 shares, compared to its average volume of 433,632. Grupo Cibest has a twelve month low of $42.08 and a twelve month high of $86.31. 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 capitalization of $19.14 billion, a P/E ratio of 22.43, a PEG ratio of 1.22 and a beta of 0.70. The stock has a fifty day moving average of $70.97 and a 200 day moving average of $70.82.

Grupo Cibest (NYSE:CIB) last issued its earnings results on Monday, May 4th. The bank reported $1.62 EPS 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 firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $2.04 billion. Equities research analysts forecast that Grupo Cibest will post 8.65 earnings per share for the current fiscal year.

Institutional Trading of Grupo Cibest

A number of hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new position in Grupo Cibest during the fourth quarter worth about $31,000. Arax Advisory Partners increased its position in Grupo Cibest by 2,525.0% during the fourth quarter. Arax Advisory Partners now owns 525 shares of the bank’s stock worth $33,000 after acquiring an additional 505 shares during the period. Smartleaf Asset Management LLC increased its position in Grupo Cibest by 105.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank’s stock worth $35,000 after acquiring an additional 280 shares during the period. TD Waterhouse Canada Inc. bought a new position in Grupo Cibest during the fourth quarter worth about $43,000. Finally, Tower Research Capital LLC TRC increased its position in Grupo Cibest by 796.3% during the second quarter. Tower Research Capital LLC TRC now owns 977 shares of the bank’s stock worth $45,000 after acquiring an additional 868 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.