Lazard Asset Management LLC Purchases 40,536 Shares of Grupo Cibest S.A. – Sponsored ADR $CIB

Lazard Asset Management LLC boosted its position in Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) by 259.3% in the 1st quarter, HoldingsChannel reports. The firm owned 56,166 shares of the bank’s stock after acquiring an additional 40,536 shares during the period. Lazard Asset Management LLC’s holdings in Grupo Cibest were worth $4,089,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ieq Capital LLC increased its position in Grupo Cibest by 2.6% during the fourth quarter. Ieq Capital LLC now owns 7,961 shares of the bank’s stock worth $506,000 after buying an additional 205 shares during the last quarter. Signaturefd LLC raised its stake in Grupo Cibest by 5.3% in the fourth quarter. Signaturefd LLC now owns 4,905 shares of the bank’s stock valued at $312,000 after buying an additional 248 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Grupo Cibest by 105.3% in 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 during the last quarter. Ballentine Partners LLC lifted its position in shares of Grupo Cibest by 2.1% in the fourth quarter. Ballentine Partners LLC now owns 16,229 shares of the bank’s stock valued at $1,032,000 after buying an additional 332 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Grupo Cibest by 89.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 753 shares of the bank’s stock worth $48,000 after acquiring an additional 355 shares during the period.

Grupo Cibest Price Performance

Shares of NYSE CIB opened at $92.27 on Friday. The business has a fifty day moving average price of $79.50 and a two-hundred day moving average price of $75.00. The stock has a market capitalization of $21.89 billion, a PE ratio of 25.63, a P/E/G ratio of 1.07 and a beta of 0.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.98 and a quick ratio of 0.98. Grupo Cibest S.A. – Sponsored ADR has a fifty-two week low of $43.20 and a fifty-two week high of $94.21.

Grupo Cibest (NYSE:CIB) last released its earnings results on Monday, May 4th. The bank reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.22). Grupo Cibest had a return on equity of 21.07% and a net margin of 8.41%.The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $2.04 billion. As a group, equities analysts predict that Grupo Cibest S.A. – Sponsored ADR will post 8.87 earnings per share for the current fiscal year.

Grupo Cibest Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Tuesday, June 30th were given a dividend of $1.304 per share. This is a positive change from Grupo Cibest’s previous quarterly dividend of $1.22. This represents a $5.22 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Tuesday, June 30th. Grupo Cibest’s dividend payout ratio (DPR) is currently 147.50%.

Analyst Ratings Changes

A number of research analysts recently weighed in on CIB shares. Weiss Ratings reissued a “hold (c)” rating on shares of Grupo Cibest in a report on Tuesday, July 21st. Itau BBA Securities raised Grupo Cibest from a “strong sell” rating to a “market perform” rating in a report on Tuesday, May 26th. Zacks Research upgraded shares of Grupo Cibest from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. The Goldman Sachs Group upgraded shares of Grupo Cibest from a “neutral” rating to a “buy” rating and raised their target price for the stock from $81.00 to $98.00 in a research note on Tuesday. Finally, JPMorgan Chase & Co. upped their price target on shares of Grupo Cibest from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Grupo Cibest presently has a consensus rating of “Hold” and a consensus price target of $76.60.

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.