Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) Given Consensus Recommendation of “Reduce” by Brokerages

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) has been given a consensus recommendation of “Reduce” by the nine research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $72.20.

CIB has been the topic of several analyst reports. Itau BBA Securities upgraded Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research note on Tuesday, May 26th. Weiss Ratings downgraded shares of Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. UBS Group lifted their price objective on shares of Grupo Cibest from $52.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Grupo Cibest from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. Finally, Bank of America raised shares of Grupo Cibest from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $68.00 to $75.00 in a research report on Monday, June 1st.

Grupo Cibest Trading Up 4.4%

NYSE:CIB opened at $74.96 on Wednesday. Grupo Cibest has a one year low of $41.42 and a one year high of $86.31. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $17.79 billion, a P/E ratio of 20.82, a P/E/G ratio of 1.09 and a beta of 0.70. The firm has a 50-day simple moving average of $70.25 and a 200-day simple moving average of $70.19.

Grupo Cibest (NYSE:CIB) last posted 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). Grupo Cibest had a net margin of 8.41% and a return on equity of 21.07%. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $2.04 billion. Equities analysts anticipate that Grupo Cibest will post 8.65 EPS for the current fiscal year.

Grupo Cibest Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Stockholders of record on Tuesday, March 31st were given a $1.2182 dividend. 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 6.5%. Grupo Cibest’s payout ratio is presently 136.11%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. FNY Investment Advisers LLC purchased a new position in shares of Grupo Cibest in the 4th quarter worth approximately $31,000. Arax Advisory Partners grew its position in shares of Grupo Cibest by 2,525.0% in 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 last quarter. Smartleaf Asset Management LLC grew its position in shares of Grupo Cibest by 105.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank’s stock worth $35,000 after buying an additional 280 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new position in shares of Grupo Cibest in the 4th quarter worth approximately $43,000. Finally, Caitong International Asset Management Co. Ltd grew its position in 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 purchasing an additional 355 shares during 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.