Grupo Cibest S.A. - Sponsored ADR $CIB Shares Newly Purchased by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada initiated a Grupo Cibest position of 10,962 shares valued at approximately $1 million, while several other institutional investors also increased their holdings.
• Analyst sentiment remains mixed: Grupo Cibest has a consensus “Hold” rating and an average price target of $90.83, below its $96.73 opening price; targets from JPMorgan, Goldman Sachs and RBC are around $110.
• The bank reported quarterly EPS of $3.32, beating estimates by $1.18, and paid a special dividend of $1.6324 per share. Its payout ratio was 106.24%.

TD Waterhouse Canada Inc. bought a new position in shares of Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,962 shares of the bank's stock, valued at approximately $1,000,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bank of America Corp DE lifted its holdings in Grupo Cibest by 9.1% in the 1st quarter. Bank of America Corp DE now owns 516,834 shares of the bank's stock valued at $37,631,000 after acquiring an additional 43,126 shares during the last quarter. Nykredit A S acquired a new position in shares of Grupo Cibest in the 2nd quarter worth approximately $5,589,000. Barings LLC grew its stake in shares of Grupo Cibest by 50.2% in the 1st quarter. Barings LLC now owns 81,500 shares of the bank's stock worth $5,934,000 after purchasing an additional 27,227 shares during the last quarter. Barometer Capital Management Inc. raised its holdings in shares of Grupo Cibest by 671.0% in the 1st quarter. Barometer Capital Management Inc. now owns 23,900 shares of the bank's stock worth $1,740,000 after purchasing an additional 20,800 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Grupo Cibest by 46,580.9% in the 1st quarter. Assetmark Inc. now owns 95,229 shares of the bank's stock worth $6,934,000 after purchasing an additional 95,025 shares in the last quarter.

Analysts Set New Price Targets

CIB has been the subject of several recent research reports. JPMorgan Chase & Co. reissued a "neutral" rating and set a $110.00 target price on shares of Grupo Cibest in a research note on Wednesday, September 16th. The Goldman Sachs Group lifted their price target on shares of Grupo Cibest from $98.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Royal Bank Of Canada set a $110.00 price target on shares of Grupo Cibest in a research report on Tuesday, August 11th. Wall Street Zen upgraded Grupo Cibest to a "buy" rating in a research report on Saturday, October 17th. Finally, Zacks Research downgraded Grupo Cibest from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 12th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Grupo Cibest currently has a consensus rating of "Hold" and an average target price of $90.83.

Grupo Cibest Stock Down 0.9%

CIB stock opened at $96.73 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $22.95 billion, a P/E ratio of 10.98, a P/E/G ratio of 0.74 and a beta of 0.67. Grupo Cibest S.A. - Sponsored ADR has a 52-week low of $54.83 and a 52-week high of $105.60. The company's 50 day simple moving average is $97.44 and its 200-day simple moving average is $84.33.

Grupo Cibest (NYSE:CIB - Get Free Report) last announced 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 return on equity of 20.87% and a net margin of 10.80%. The business had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.40 billion. As a group, equities research analysts anticipate that Grupo Cibest S.A. - Sponsored ADR will post 10.87 EPS for the current year.

Grupo Cibest Announces Dividend

The firm also recently announced a special dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 8th were paid a $1.6324 dividend. The ex-dividend date was Tuesday, September 8th. Grupo Cibest's payout ratio is 106.24%.

About Grupo Cibest

Grupo Cibest SA is a Colombia-based financial services holding company whose principal business is conducted through Bancolombia and related subsidiaries. The group provides banking and financial solutions to individuals, businesses, institutions and governments, with activities spanning commercial banking, consumer finance, corporate banking, investment banking, wealth management, insurance and payments.

Its offerings include deposit accounts, loans, credit cards, cash-management services, investment products, trust and fiduciary services, foreign-exchange solutions and digital financial tools.

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