Barometer Capital Management Inc. Has $1.74 Million Position in Grupo Cibest S.A. - Sponsored ADR $CIB

Key Points

• Barometer Capital Management increased its stake in Grupo Cibest by 671% in the first quarter, lifting its holdings to 23,900 shares worth about $1.74 million.
• Grupo Cibest reported Q1 earnings below expectations, with $1.62 EPS versus the $1.84 forecast and revenue of $1.69 billion versus the $2.04 billion estimate.
• The company raised its quarterly dividend to $1.304 per share, implying an annualized yield of about 6.2%; analysts currently rate the stock a Hold on average with a $73.20 price target.

Barometer Capital Management Inc. boosted its position in Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Free Report) by 671.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,900 shares of the bank's stock after purchasing an additional 20,800 shares during the quarter. Barometer Capital Management Inc.'s holdings in Grupo Cibest were worth $1,740,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Grupo Cibest by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 3,089,670 shares of the bank's stock worth $196,534,000 after buying an additional 67,986 shares in the last quarter. Earnest Partners LLC grew its stake in shares of 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 acquiring an additional 218,359 shares in the last quarter. Sei Investments Co. increased its position in Grupo Cibest by 29.8% during the second quarter. Sei Investments Co. now owns 863,718 shares of the bank's stock worth $39,895,000 after acquiring an additional 198,228 shares during the period. Itau Unibanco Holding S.A. increased its position 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 acquiring an additional 405,098 shares during the period. Finally, State Street Corp raised its stake in Grupo Cibest by 1.6% in the 4th quarter. State Street Corp now owns 597,639 shares of the bank's stock worth $38,016,000 after purchasing an additional 9,259 shares in the last quarter.

Grupo Cibest Price Performance

CIB stock opened at $83.86 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.20. Grupo Cibest S.A. - Sponsored ADR has a 12 month low of $43.20 and a 12 month high of $87.68. The firm 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. The company's 50-day moving average price is $75.64 and its two-hundred day moving average price is $73.83.

Grupo Cibest (NYSE:CIB - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The bank reported $1.62 earnings per share 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 return on equity of 21.07% and a net margin of 8.41%. On average, analysts anticipate that Grupo Cibest S.A. - Sponsored ADR will post 8.87 earnings per share for the current fiscal year.

Grupo Cibest Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Weiss Ratings lowered shares of Grupo Cibest from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, April 24th. JPMorgan Chase & Co. lifted their price target 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. Bank of America upgraded shares of Grupo Cibest from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $68.00 to $75.00 in a research report on Monday, June 1st. The Goldman Sachs Group increased 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. Finally, UBS Group raised their price objective on Grupo Cibest from $52.00 to $72.00 and gave the stock a "neutral" rating in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $73.20.

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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