Grupo Cibest (NYSE:CIB) Shares Gap Up After Analyst Upgrade

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) shares gapped up before the market opened on Monday after Bank of America upgraded the stock from an underperform rating to a neutral rating. The stock had previously closed at $68.59, but opened at $74.60. Bank of America now has a $75.00 price target on the stock. Grupo Cibest shares last traded at $77.0550, with a volume of 345,923 shares traded.

A number of other equities analysts also recently commented on the company. The Goldman Sachs Group lifted their target price on Grupo Cibest from $69.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. UBS Group raised their price target on Grupo Cibest from $52.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Weiss Ratings lowered Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. Itau BBA Securities raised Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. raised their target price on Grupo Cibest from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. Eight equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Grupo Cibest presently has an average rating of “Reduce” and a consensus target price of $72.20.

Institutional Investors Weigh In On Grupo Cibest

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC purchased a new stake in shares of Grupo Cibest during the fourth quarter valued at $31,000. Arax Advisory Partners raised its holdings in Grupo Cibest by 2,525.0% during the 4th quarter. Arax Advisory Partners now owns 525 shares of the bank’s stock worth $33,000 after buying an additional 505 shares during the period. Smartleaf Asset Management LLC lifted its stake in Grupo Cibest by 105.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank’s stock valued at $35,000 after buying an additional 280 shares in the last quarter. TD Waterhouse Canada Inc. purchased a new stake in Grupo Cibest during the fourth quarter valued at about $43,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Grupo Cibest by 796.3% in the second quarter. Tower Research Capital LLC TRC now owns 977 shares of the bank’s stock worth $45,000 after buying an additional 868 shares during the period.

Grupo Cibest Stock Performance

The firm’s 50-day moving average price is $69.91 and its two-hundred day moving average price is $69.71. 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 $18.31 billion, a PE ratio of 21.44, a P/E/G ratio of 1.05 and a beta of 0.70.

Grupo Cibest (NYSE:CIB) last issued its quarterly 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). The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Grupo Cibest had a net margin of 8.41% and a return on equity of 21.07%. As a group, research analysts predict that Grupo Cibest S.A. – Sponsored ADR will post 8.62 earnings per share for the current fiscal year.

Grupo Cibest Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 13th. Stockholders of record on Tuesday, March 31st were paid a dividend of $1.2182 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $4.87 dividend on an annualized basis and a dividend yield of 6.3%. Grupo Cibest’s dividend payout ratio (DPR) is 136.11%.

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.