Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) Plans Quarterly Dividend of $1.44

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) declared a quarterly dividend on Monday, August 17th. Stockholders of record on Wednesday, September 30th will be given a dividend of 1.4438 per share by the bank on Tuesday, October 13th. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a 10.7% increase from Grupo Cibest’s previous quarterly dividend of $1.30.

Grupo Cibest has increased its dividend by an average of 0.2%per year over the last three years. Grupo Cibest has a payout ratio of 81.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Grupo Cibest to earn $11.53 per share next year, which means the company should continue to be able to cover its $5.31 annual dividend with an expected future payout ratio of 46.1%.

Grupo Cibest Price Performance

NYSE CIB traded up $0.24 on Tuesday, hitting $96.78. The stock had a trading volume of 94,810 shares, compared to its average volume of 406,538. The firm has a 50-day moving average of $84.37 and a 200-day moving average of $76.21. The company has a market capitalization of $22.97 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 0.74 and a beta of 0.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.99 and a current ratio of 0.99. Grupo Cibest has a 52-week low of $48.59 and a 52-week high of $100.74.

Grupo Cibest (NYSE:CIB) last released its quarterly earnings results on Monday, August 10th. The bank reported $3.32 earnings per share for the quarter, beating the consensus estimate of $2.14 by $1.18. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Grupo Cibest had a return on equity of 20.87% and a net margin of 10.80%. Equities analysts expect that Grupo Cibest will post 10.87 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on CIB. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Grupo Cibest in a research note on Tuesday, July 21st. UBS Group boosted their price objective on shares of Grupo Cibest from $52.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. 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. Itau BBA Securities raised Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research note on Tuesday, May 26th. Finally, JPMorgan Chase & Co. upgraded Grupo Cibest from a “neutral” rating to an “overweight” rating and increased their target price for the company from $70.00 to $110.00 in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $90.83.

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.