Assetmark Inc. Purchases 95,025 Shares of Grupo Cibest S.A. - Sponsored ADR $CIB

Key Points

• Assetmark Inc. dramatically increased its stake in Grupo Cibest during the first quarter, buying 95,025 additional shares and bringing its total holding to 95,229 shares valued at about $6.93 million.
• Grupo Cibest recently reported weaker-than-expected quarterly results, posting EPS of $1.62 versus estimates of $1.84 and revenue of $1.69 billion versus the $2.04 billion consensus.
• The bank also raised its quarterly dividend to $1.304 per share, implying an annualized yield of 6.2%, while analysts currently maintain an overall Hold rating with a consensus price target of $73.20.

Assetmark Inc. raised its holdings in shares of Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Free Report) by 46,580.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 95,229 shares of the bank's stock after acquiring an additional 95,025 shares during the period. Assetmark Inc.'s holdings in Grupo Cibest were worth $6,934,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CIB. FNY Investment Advisers LLC purchased a new position in Grupo Cibest in the 4th quarter worth approximately $31,000. Arax Advisory Partners raised its holdings in 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 purchasing an additional 505 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Grupo Cibest by 105.3% in 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 position in shares of Grupo Cibest in the 4th quarter valued at approximately $43,000. Finally, Tower Research Capital LLC TRC lifted its position in Grupo Cibest by 796.3% during the second 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 period.

Grupo Cibest Stock Performance

Shares of NYSE CIB opened at $83.86 on Wednesday. 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 company has a market cap of $19.90 billion, a P/E ratio of 23.30, a P/E/G ratio of 0.92 and a beta of 0.67. Grupo Cibest S.A. - Sponsored ADR has a 52-week low of $43.20 and a 52-week high of $87.68. The firm's fifty day moving average is $75.64 and its two-hundred day moving average is $73.83.

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 firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate 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 anticipate that Grupo Cibest S.A. - Sponsored ADR will post 8.87 EPS for the current fiscal year.

Grupo Cibest Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Tuesday, June 30th were issued a $1.304 dividend. This represents a $5.22 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend was Tuesday, June 30th. This is a positive change from Grupo Cibest's previous quarterly dividend of $1.22. Grupo Cibest's payout ratio is 147.78%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CIB shares. UBS Group lifted their target price on shares of Grupo Cibest from $52.00 to $72.00 and gave the company a "neutral" rating in a report on Thursday, April 23rd. Itau BBA Securities raised shares of Grupo Cibest from a "strong sell" rating to a "market perform" rating in a report on Tuesday, May 26th. Weiss Ratings lowered Grupo Cibest from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, April 24th. JPMorgan Chase & Co. boosted their target price on shares of Grupo Cibest from $65.00 to $70.00 and gave the company a "neutral" rating in a research report on Monday, May 18th. Finally, The Goldman Sachs Group upped their price target on Grupo Cibest from $71.00 to $81.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $73.20.

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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