Amundi Boosts Position in Grupo Cibest S.A. - Sponsored ADR $CIB

Key Points

• Amundi increased its Grupo Cibest position by 26.7% in the first quarter, adding 104,280 shares to hold 495,535 shares worth approximately $36.1 million, or 0.21% of the company.
• Analyst sentiment remains mixed but improved overall: Goldman Sachs upgraded the stock to “buy” with a $98 target, while the consensus rating is “Hold” with an average price target of $76.60.
• Grupo Cibest shares opened at $91.25 and offer a 5.7% dividend yield after the quarterly dividend rose to $1.304, although the company recently missed quarterly earnings and revenue estimates.

Amundi increased its position in shares of Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Free Report) by 26.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 495,535 shares of the bank's stock after acquiring an additional 104,280 shares during the quarter. Amundi owned approximately 0.21% of Grupo Cibest worth $36,080,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CIB. FNY Investment Advisers LLC bought a new stake in shares of Grupo Cibest in the 4th quarter valued at approximately $31,000. Arax Advisory Partners raised its holdings in Grupo Cibest by 2,525.0% during the fourth quarter. Arax Advisory Partners now owns 525 shares of the bank's stock worth $33,000 after purchasing an additional 505 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Grupo Cibest by 105.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank's stock worth $35,000 after buying an additional 280 shares in the last quarter. TD Waterhouse Canada Inc. purchased a new stake in Grupo Cibest during the fourth quarter valued at about $43,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Grupo Cibest by 796.3% in the second quarter. Tower Research Capital LLC TRC now owns 977 shares of the bank's stock worth $45,000 after purchasing an additional 868 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CIB shares. JPMorgan Chase & Co. raised their target price 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. Bank of America raised shares of Grupo Cibest from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $68.00 to $75.00 in a report on Monday, June 1st. The Goldman Sachs Group upgraded shares of Grupo Cibest from a "neutral" rating to a "buy" rating and increased their price target for the company from $81.00 to $98.00 in a research report on Tuesday, July 28th. Itau BBA Securities raised shares of Grupo Cibest from a "strong sell" rating to a "market perform" rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Grupo Cibest in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $76.60.

Grupo Cibest Price Performance

Shares of NYSE:CIB opened at $91.25 on Tuesday. The stock's fifty day simple moving average is $80.01 and its two-hundred day simple moving average is $75.16. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.20. The stock has a market cap of $21.65 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 1.06 and a beta of 0.67. Grupo Cibest S.A. - Sponsored ADR has a 1-year low of $44.33 and a 1-year high of $94.21.

Grupo Cibest (NYSE:CIB - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The bank reported $1.62 EPS for the quarter, missing analysts' consensus estimates of $1.84 by ($0.22). The business had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $2.04 billion. Grupo Cibest had a net margin of 8.41% and a return on equity of 21.07%. As a group, analysts forecast that Grupo Cibest S.A. - Sponsored ADR will post 8.87 EPS for the current fiscal year.

Grupo Cibest Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Tuesday, June 30th were paid a $1.304 dividend. This represents a $5.22 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Tuesday, June 30th. This is an increase from Grupo Cibest's previous quarterly dividend of $1.22. Grupo Cibest's dividend payout ratio (DPR) is currently 147.50%.

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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