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

Key Points

• Grupo Cibest declared a special dividend of $1.6324 per share, payable September 15 to shareholders of record as of September 8; the ex-dividend date is also September 8.
• The bank’s latest quarterly earnings came in at $3.32 per share, beating analyst expectations of $2.14, though revenue of $2.31 billion fell short of the $2.40 billion forecast.
• CIB shares fell 1.4% to $97.28 in Friday trading, but remain near their 52-week high of $103.50; several institutional investors, including Vanguard and Bank of America, recently increased their stakes.

Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Get Free Report) announced a special dividend on Thursday, August 27th. Shareholders of record on Tuesday, September 8th will be given a dividend of 1.6324 per share by the bank on Tuesday, September 15th. The ex-dividend date of this dividend is Tuesday, September 8th.

Grupo Cibest has increased its dividend by an average of 0.2%annually over the last three years. Grupo Cibest has a dividend payout ratio of 85.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. 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 Stock Down 1.4%

CIB stock traded down $1.35 during trading on Friday, hitting $97.28. 164,384 shares of the company's stock traded hands, compared to its average volume of 398,830. The firm has a market capitalization of $23.08 billion, a P/E ratio of 18.96, a PEG ratio of 0.77 and a beta of 0.67. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $87.76 and a two-hundred day simple moving average of $77.30. Grupo Cibest has a 1 year low of $49.39 and a 1 year high of $103.50.

Grupo Cibest (NYSE:CIB - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The bank reported $3.32 earnings per share for the quarter, beating analysts' consensus estimates 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. Sell-side analysts anticipate that Grupo Cibest will post 10.87 EPS for the current year.

Institutional Investors Weigh In On Grupo Cibest

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Grupo Cibest by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 3,089,670 shares of the bank's stock valued at $196,534,000 after acquiring an additional 67,986 shares in the last quarter. ABN Amro Investment Solutions increased its holdings in shares of Grupo Cibest by 110.7% during the 4th quarter. ABN Amro Investment Solutions now owns 182,945 shares of the bank's stock valued at $11,637,000 after purchasing an additional 96,109 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Grupo Cibest by 9.1% in the 1st quarter. Bank of America Corp DE now owns 516,834 shares of the bank's stock valued at $37,631,000 after purchasing an additional 43,126 shares during the period. Triasima Portfolio Management inc. boosted its holdings in Grupo Cibest by 32.5% during the fourth quarter. Triasima Portfolio Management inc. now owns 139,897 shares of the bank's stock worth $8,899,000 after buying an additional 34,280 shares in the last quarter. Finally, Assetmark Inc. grew its position in Grupo Cibest by 46,580.9% during the first quarter. Assetmark Inc. now owns 95,229 shares of the bank's stock valued at $6,934,000 after buying an additional 95,025 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.

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