Bank of America Corp DE Grows Stock Position in Grupo Cibest S.A. - Sponsored ADR $CIB

Key Points

• Bank of America increased its Grupo Cibest stake by 9.1% in the first quarter, reaching 516,834 shares valued at approximately $37.6 million. Other major institutions, including Vanguard, Earnest Partners and Itaú Unibanco, also expanded their positions.
• Grupo Cibest shares rose 0.5% to $96.23, near their one-year high of $100.74. The bank reported quarterly EPS of $3.32, well above the $2.14 consensus estimate, although revenue of $2.31 billion fell short of expectations.
• The company raised its quarterly dividend to $1.304 per share, representing a 5.4% annualized yield, while analyst sentiment remained mixed: the consensus rating is Hold with an average price target of $90.83.

Bank of America Corp DE boosted its holdings in Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Free Report) by 9.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 516,834 shares of the bank's stock after acquiring an additional 43,126 shares during the period. Bank of America Corp DE owned 0.21% of Grupo Cibest worth $37,631,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CIB. Vanguard Group Inc. increased its position in shares of Grupo Cibest by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 3,089,670 shares of the bank's stock worth $196,534,000 after purchasing an additional 67,986 shares during the last quarter. Earnest Partners LLC lifted its position in Grupo Cibest by 8.8% in the fourth quarter. Earnest Partners LLC now owns 2,697,747 shares of the bank's stock valued at $171,604,000 after buying an additional 218,359 shares during the last quarter. Sei Investments Co. lifted its position in Grupo Cibest by 29.8% in the second quarter. Sei Investments Co. now owns 863,718 shares of the bank's stock valued at $39,895,000 after buying an additional 198,228 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake in Grupo Cibest by 164.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 651,368 shares of the bank's stock worth $41,523,000 after buying an additional 405,098 shares during the period. Finally, State Street Corp boosted its stake in Grupo Cibest by 1.6% during the fourth quarter. State Street Corp now owns 597,639 shares of the bank's stock worth $38,016,000 after buying an additional 9,259 shares during the period.

Grupo Cibest Trading Up 0.5%

NYSE CIB opened at $96.23 on Friday. 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 $22.83 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 0.77 and a beta of 0.67. The firm has a 50 day simple moving average of $83.37 and a 200-day simple moving average of $76.03. Grupo Cibest S.A. - Sponsored ADR has a one year low of $48.06 and a one year high of $100.74.

Grupo Cibest (NYSE:CIB - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The bank reported $3.32 EPS for the quarter, beating the consensus estimate of $2.14 by $1.18. Grupo Cibest had a net margin of 10.80% and a return on equity of 22.21%. The company had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.40 billion. Equities research analysts anticipate that Grupo Cibest S.A. - Sponsored ADR will post 10.25 EPS for the current fiscal year.

Grupo Cibest Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Tuesday, June 30th were paid a dividend of $1.304 per share. This represents a $5.22 annualized dividend and a yield of 5.4%. 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 presently 103.70%.

Wall Street Analysts Forecast Growth

CIB has been the topic of a number of research analyst reports. Citigroup raised shares of Grupo Cibest from a "neutral" rating to a "buy" rating in a research note on Thursday. Weiss Ratings reiterated a "hold (c)" rating on shares of Grupo Cibest in a report on Tuesday, July 21st. The Goldman Sachs Group boosted their target price on Grupo Cibest from $98.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday. Itau BBA Securities upgraded Grupo Cibest from a "strong sell" rating to a "market perform" rating in a research note on Tuesday, May 26th. Finally, Zacks Research upgraded Grupo Cibest from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $90.83.

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.

Want to see what other hedge funds are holding CIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Free Report).

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