Grupo Cibest S.A. - Sponsored ADR $CIB Shares Acquired by ABN Amro Investment Solutions

Key Points

• ABN Amro Investment Solutions increased its stake in Grupo Cibest by 36.3% in the first quarter, buying 66,400 additional shares and bringing its holdings to 249,345 shares worth about $18.2 million.
• The stock was up 3.8% to $83.86, near its 52-week high of $87.68, with a market cap of $19.9 billion and a dividend yield of 6.2% after the company raised its quarterly payout to $1.304 per share.
• Grupo Cibest’s latest earnings missed analyst expectations, posting $1.62 EPS versus $1.84 expected and revenue of $1.69 billion versus $2.04 billion forecast. Despite that, analysts currently rate the stock a Hold on average, with an average price target of $73.20.

ABN Amro Investment Solutions grew its holdings in Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Free Report) by 36.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 249,345 shares of the bank's stock after buying an additional 66,400 shares during the period. ABN Amro Investment Solutions owned 0.10% of Grupo Cibest worth $18,155,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Millennium Management LLC increased its stake in Grupo Cibest by 527.0% in the 1st quarter. Millennium Management LLC now owns 316,877 shares of the bank's stock valued at $12,738,000 after buying an additional 266,341 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Grupo Cibest by 62.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 142,018 shares of the bank's stock worth $5,709,000 after acquiring an additional 54,497 shares during the period. Marshall Wace LLP boosted its holdings in shares of Grupo Cibest by 288.4% in the second quarter. Marshall Wace LLP now owns 40,269 shares of the bank's stock valued at $1,860,000 after acquiring an additional 29,902 shares in the last quarter. Cerity Partners LLC acquired a new position in shares of Grupo Cibest during the second quarter worth about $349,000. Finally, Qube Research & Technologies Ltd raised its holdings in Grupo Cibest by 158.7% during the second quarter. Qube Research & Technologies Ltd now owns 254,287 shares of the bank's stock worth $11,746,000 after purchasing an additional 155,985 shares in the last quarter.

Grupo Cibest Stock Up 3.8%

CIB stock opened at $83.86 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.98 and a quick ratio of 0.98. The company's 50 day simple moving average is $75.64 and its 200-day simple moving average is $73.83. 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 capitalization of $19.90 billion, a PE ratio of 23.30, a P/E/G ratio of 0.92 and a beta of 0.67.

Grupo Cibest (NYSE:CIB - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $2.04 billion. Grupo Cibest had a return on equity of 21.07% and a net margin of 8.41%. Equities analysts expect that Grupo Cibest S.A. - Sponsored ADR will post 8.87 earnings per share for the current fiscal year.

Grupo Cibest Increases Dividend

The company 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. This is a positive change from Grupo Cibest's previous quarterly dividend of $1.22. The ex-dividend date was Tuesday, June 30th. This represents a $5.22 dividend on an annualized basis and a yield of 6.2%. Grupo Cibest's payout ratio is currently 147.78%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Zacks Research raised Grupo Cibest from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 17th. Weiss Ratings cut Grupo Cibest from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, April 24th. JPMorgan Chase & Co. increased their price objective on Grupo Cibest from $65.00 to $70.00 and gave the stock a "neutral" rating in a research report on Monday, May 18th. Itau BBA Securities raised Grupo Cibest from a "strong sell" rating to a "market perform" rating in a report on Tuesday, May 26th. Finally, Bank of America raised shares of Grupo Cibest from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $68.00 to $75.00 in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Grupo Cibest presently has an average rating of "Hold" and an average price target of $73.20.

Grupo Cibest Company 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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