Grupo Cibest (NYSE:CIB) Sets New 12-Month High Following Dividend Announcement

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB)’s share price hit a new 52-week high during trading on Thursday following a dividend announcement from the company. The stock traded as high as $103.50 and last traded at $100.91, with a volume of 233498 shares. The stock had previously closed at $103.26.

The newly announced dividend which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 8th will be given a dividend of $1.6324 per share. The ex-dividend date of this dividend is Tuesday, September 8th. Grupo Cibest’s payout ratio is currently 103.70%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CIB shares. Zacks Research upgraded Grupo Cibest from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Bank of America upgraded shares of Grupo Cibest from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $68.00 to $75.00 in a research report on Monday, June 1st. Weiss Ratings raised shares of Grupo Cibest from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 18th. Citigroup raised shares of Grupo Cibest from a “hold” rating to a “buy” rating in a research note on Thursday, August 13th. Finally, Itau BBA Securities upgraded shares of Grupo Cibest from a “strong sell” rating to a “market perform” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Grupo Cibest has a consensus rating of “Hold” and a consensus target price of $90.83.

Grupo Cibest Stock Performance

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 stock has a market cap of $23.02 billion, a PE ratio of 18.91, a P/E/G ratio of 0.75 and a beta of 0.67. The business’s 50-day moving average price is $88.07 and its 200-day moving average price is $77.44.

Grupo Cibest (NYSE:CIB) last released its quarterly earnings results on Monday, August 10th. The bank reported $3.32 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $1.18. Grupo Cibest had a return on equity of 20.87% and a net margin of 10.80%.The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.40 billion. As a group, equities research analysts expect that Grupo Cibest S.A. – Sponsored ADR will post 10.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grupo Cibest

A number of large investors have recently bought and sold shares of CIB. Millennium Management LLC lifted its stake in Grupo Cibest by 527.0% during the 1st quarter. Millennium Management LLC now owns 316,877 shares of the bank’s stock valued at $12,738,000 after acquiring an additional 266,341 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Grupo Cibest by 62.3% in the first quarter. Goldman Sachs Group Inc. now owns 142,018 shares of the bank’s stock valued at $5,709,000 after purchasing an additional 54,497 shares during the last quarter. Marshall Wace LLP grew its position in Grupo Cibest by 288.4% during the 2nd quarter. Marshall Wace LLP now owns 40,269 shares of the bank’s stock worth $1,860,000 after purchasing an additional 29,902 shares during the period. Cerity Partners LLC acquired a new position in shares of Grupo Cibest in the 2nd quarter valued at about $349,000. Finally, Qube Research & Technologies Ltd grew its holdings in Grupo Cibest by 158.7% during the second quarter. Qube Research & Technologies Ltd now owns 254,287 shares of the bank’s stock worth $11,746,000 after acquiring an additional 155,985 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.