Allspring Global Investments Holdings LLC Cuts Stock Position in Grupo Cibest S.A. - Sponsored ADR $CIB

Key Points

• Allspring Global Investments Holdings LLC cut its stake by 46.6%, selling 327,510 shares in Q4 and ending the period with 374,760 shares (0.16% of Grupo Cibest) valued at about $23.69 million.
• Grupo Cibest declared a quarterly dividend of $1.2182 payable April 13 (record/ex-dividend March 31), equal to a $4.87 annualized payout and a 6.7% yield with a payout ratio of 127.6%.
• Wall Street sentiment is tilted negative — one Buy, five Hold and three Sell for a consensus rating of "Reduce" and a $59.20 target — while the stock has a $17.38B market cap and a PE of 19.75.

Allspring Global Investments Holdings LLC cut its stake in Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Free Report) by 46.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 374,760 shares of the bank's stock after selling 327,510 shares during the period. Allspring Global Investments Holdings LLC owned 0.16% of Grupo Cibest worth $23,685,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its stake in shares of Grupo Cibest by 796.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 977 shares of the bank's stock valued at $45,000 after buying an additional 868 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Grupo Cibest by 39.8% in the fourth quarter. GAMMA Investing LLC now owns 1,321 shares of the bank's stock valued at $84,000 after buying an additional 376 shares in the last quarter. Grove Bank & Trust purchased a new position in Grupo Cibest during the fourth quarter valued at $97,000. Westfuller Advisors LLC acquired a new position in shares of Grupo Cibest during the 3rd quarter worth about $104,000. Finally, State of Wyoming purchased a new position in Grupo Cibest in the 3rd quarter valued at about $139,000.

Grupo Cibest Stock Performance

Shares of CIB opened at $72.27 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00. The business's fifty day moving average price is $73.86 and its 200 day moving average price is $65.64. Grupo Cibest S.A. - Sponsored ADR has a 12-month low of $35.44 and a 12-month high of $86.31. The stock has a market capitalization of $17.38 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 1.24 and a beta of 0.80.

Grupo Cibest Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Tuesday, March 31st will be paid a $1.2182 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $4.87 dividend on an annualized basis and a yield of 6.7%. Grupo Cibest's dividend payout ratio (DPR) is currently 127.60%.

Wall Street Analyst Weigh In

CIB has been the topic of several recent research reports. Santander cut Grupo Cibest to an "underperform" rating in a report on Wednesday, December 17th. The Goldman Sachs Group upped their target price on shares of Grupo Cibest from $69.00 to $76.00 and gave the company a "neutral" rating in a research report on Wednesday, February 25th. Citigroup cut Grupo Cibest from a "buy" rating to a "neutral" rating in a report on Wednesday, January 21st. Weiss Ratings reiterated a "buy (b-)" rating on shares of Grupo Cibest in a research note on Friday, March 27th. Finally, Itau BBA Securities downgraded shares of Grupo Cibest from a "market perform" rating to an "underperform" rating and set a $68.00 target price for the company. in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $59.20.

Grupo Cibest 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.

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