Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) Sees Significant Growth in Short Interest

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 710,627 shares, an increase of 55.9% from the July 15th total of 455,922 shares. Based on an average daily volume of 307,428 shares, the days-to-cover ratio is presently 2.3 days. Approximately 0.3% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CIB shares. Itau BBA Securities raised shares of Grupo Cibest from a “strong sell” rating to a “market perform” rating in a report on Tuesday, May 26th. Weiss Ratings restated a “hold (c)” rating on shares of Grupo Cibest in a report on Tuesday, July 21st. Zacks Research raised shares of Grupo Cibest from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. The Goldman Sachs Group boosted their target price on shares of Grupo Cibest from $98.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Finally, JPMorgan Chase & Co. raised shares of 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 research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $90.83.

Grupo Cibest Stock Performance

Shares of CIB opened at $97.55 on Wednesday. Grupo Cibest has a 12-month low of $48.59 and a 12-month high of $100.74. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.18. The company has a market cap of $23.15 billion, a PE ratio of 19.02, a price-to-earnings-growth ratio of 0.74 and a beta of 0.67. The stock has a 50-day moving average price of $84.82 and a 200-day moving average price of $76.31.

Grupo Cibest (NYSE:CIB) last posted its quarterly earnings data on Monday, August 10th. The bank reported $3.32 earnings per share for the quarter, topping the consensus estimate of $2.14 by $1.18. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Grupo Cibest had a net margin of 10.80% and a return on equity of 20.87%. As a group, equities analysts forecast that Grupo Cibest will post 10.87 earnings per share for the current fiscal year.

Grupo Cibest Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Wednesday, September 30th will be issued a $1.4438 dividend. This represents a $5.78 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from Grupo Cibest’s previous quarterly dividend of $1.30. Grupo Cibest’s payout ratio is currently 103.51%.

Institutional Trading of Grupo Cibest

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Grupo Cibest by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 3,089,670 shares of the bank’s stock valued at $196,534,000 after acquiring an additional 67,986 shares during the last quarter. Earnest Partners LLC raised 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 valued at $171,604,000 after purchasing an additional 218,359 shares in the last quarter. Sei Investments Co. lifted its stake in Grupo Cibest by 29.8% during the second quarter. Sei Investments Co. now owns 863,718 shares of the bank’s stock worth $39,895,000 after purchasing an additional 198,228 shares during the last quarter. Itau Unibanco Holding S.A. lifted its stake in Grupo Cibest by 164.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 651,368 shares of the bank’s stock worth $41,523,000 after purchasing an additional 405,098 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Grupo Cibest by 1.6% in the 4th quarter. State Street Corp now owns 597,639 shares of the bank’s stock worth $38,016,000 after purchasing an additional 9,259 shares in the last quarter.

Grupo Cibest Company Profile

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.