Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) Declares Special Dividend of $1.63

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) declared a special dividend on Thursday, August 27th. Stockholders of record on Tuesday, September 8th will be paid a dividend of 1.6324 per share by the bank on Tuesday, September 15th. The ex-dividend date is Tuesday, September 8th.

Grupo Cibest has raised its dividend by an average of 0.2%per year over the last three years. Grupo Cibest has a payout ratio of 85.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities 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 $5.57 annual dividend with an expected future payout ratio of 48.3%.

Grupo Cibest Trading Down 1.4%

CIB traded down $1.35 during trading hours on Friday, reaching $97.28. The company’s stock had a trading volume of 164,384 shares, compared to its average volume of 398,830. The stock has a market cap of $23.08 billion, a PE ratio of 18.96, a P/E/G ratio of 0.77 and a beta of 0.67. Grupo Cibest has a fifty-two week low of $49.39 and a fifty-two week high of $103.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.99 and a quick ratio of 0.99. The business’s 50-day moving average is $87.76 and its 200-day moving average is $77.30.

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

Analyst Ratings Changes

Several brokerages recently commented on CIB. The Goldman Sachs Group lifted their price target on shares of Grupo Cibest from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Bank of America raised Grupo Cibest from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $68.00 to $75.00 in a research report on Monday, June 1st. Citigroup raised Grupo Cibest from a “hold” rating to a “buy” rating in a report on Thursday, August 13th. Weiss Ratings upgraded Grupo Cibest from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 18th. Finally, Zacks Research raised Grupo Cibest from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $90.83.

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.