Candriam S.C.A. Cuts Stock Position in Grupo Cibest S.A. - Sponsored ADR $CIB

Key Points

• Candriam S.C.A. cut its Grupo Cibest position by 51% in the first quarter, selling 249,900 shares and ending with 240,556 shares valued at about $17.5 million.
• Analysts were mixed but mostly cautious: several firms raised price targets or improved ratings to neutral/market perform, while the overall consensus remains a “Reduce” with an average price target of $72.20.
• Grupo Cibest shares rose 2.7% to $83.15, and the company recently increased its quarterly dividend to $1.304 per share, though its latest earnings and revenue both missed estimates.

Candriam S.C.A. trimmed its position in shares of Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Free Report) by 51.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 240,556 shares of the bank's stock after selling 249,900 shares during the quarter. Candriam S.C.A. owned 0.10% of Grupo Cibest worth $17,515,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Hsbc Holdings PLC purchased a new position in shares of Grupo Cibest in the first quarter valued at approximately $226,000. Swedbank AB lifted its holdings in Grupo Cibest by 9.8% during the 1st quarter. Swedbank AB now owns 23,385 shares of the bank's stock worth $1,703,000 after buying an additional 2,085 shares in the last quarter. V Square Quantitative Management LLC boosted its position in Grupo Cibest by 24.0% in the 1st quarter. V Square Quantitative Management LLC now owns 2,492 shares of the bank's stock valued at $181,000 after buying an additional 482 shares during the period. QRG Capital Management Inc. boosted its position in Grupo Cibest by 8.2% in the 1st quarter. QRG Capital Management Inc. now owns 16,409 shares of the bank's stock valued at $1,195,000 after buying an additional 1,240 shares during the period. Finally, Lesa Sroufe & Co purchased a new stake in shares of Grupo Cibest during the first quarter worth $4,851,000.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CIB. Itau BBA Securities upgraded Grupo Cibest from a "strong sell" rating to a "market perform" rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. lifted their price target on shares of Grupo Cibest from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Monday, May 18th. Bank of America upgraded shares of Grupo Cibest from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $68.00 to $75.00 in a report on Monday, June 1st. UBS Group raised their price objective 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. Finally, Weiss Ratings downgraded shares of Grupo Cibest from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, April 24th. Eight investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Grupo Cibest has an average rating of "Reduce" and a consensus price target of $72.20.

Grupo Cibest Stock Up 2.7%

CIB stock traded up $2.22 during midday trading on Friday, reaching $83.15. 210,646 shares of the company were exchanged, compared to its average volume of 350,423. The company has a market cap of $19.73 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 0.95 and a beta of 0.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.98 and a current ratio of 0.98. Grupo Cibest S.A. - Sponsored ADR has a 1-year low of $43.20 and a 1-year high of $87.68. The stock's 50-day simple moving average is $73.46 and its 200 day simple moving average is $72.92.

Grupo Cibest (NYSE:CIB - Get Free Report) last issued its earnings results on Monday, May 4th. The bank reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.22). The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $2.04 billion. Grupo Cibest had a net margin of 8.41% and a return on equity of 21.07%. On average, equities analysts forecast that Grupo Cibest S.A. - Sponsored ADR will post 8.87 earnings per share for the current year.

Grupo Cibest Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $1.304 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from Grupo Cibest's previous quarterly dividend of $1.22. This represents a $5.22 annualized dividend and a dividend yield of 6.3%. Grupo Cibest's dividend payout ratio is 147.78%.

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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