Nykredit A S Invests $4.67 Million in Grupo Cibest S.A. - Sponsored ADR $CIB

Key Points

• Nykredit A/S acquired 58,789 Grupo Cibest shares worth approximately $4.67 million in the second quarter, joining several institutional investors that increased their positions.
• Analyst sentiment has improved, including a Zacks upgrade to “strong buy” and Bank of America’s upgrade to “neutral.” However, the overall consensus remains “Hold,” with an average price target of $90.83.
• Grupo Cibest reported quarterly EPS of $3.32, beating estimates by $1.18, and paid a special dividend of $1.6324 per share. The stock recently traded at $97.32, near its 12-month high of $105.60.

Nykredit A S purchased a new stake in shares of Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 58,789 shares of the bank's stock, valued at approximately $4,670,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Amundi increased its position in Grupo Cibest by 26.7% during the 1st quarter. Amundi now owns 495,535 shares of the bank's stock valued at $36,080,000 after buying an additional 104,280 shares in the last quarter. Assetmark Inc. boosted its stake 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 buying an additional 95,025 shares during the last quarter. Lesa Sroufe & Co purchased a new position in Grupo Cibest in the first quarter worth about $4,851,000. ABN Amro Investment Solutions grew its position in Grupo Cibest by 36.3% during the first quarter. ABN Amro Investment Solutions now owns 249,345 shares of the bank's stock valued at $18,155,000 after buying an additional 66,400 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Grupo Cibest by 9.1% during 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 period.

Wall Street Analyst Weigh In

CIB has been the subject of several recent analyst reports. Zacks Research raised shares of Grupo Cibest from a "hold" rating to a "strong-buy" rating in a report on Friday, July 17th. Itau BBA Securities raised Grupo Cibest from a "strong sell" rating to a "market perform" rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $110.00 price objective on shares of Grupo Cibest in a research report on Wednesday, September 16th. Weiss Ratings raised Grupo Cibest from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 18th. Finally, Bank of America upgraded Grupo Cibest from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $68.00 to $75.00 in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Grupo Cibest currently has an average rating of "Hold" and an average target price of $90.83.

Grupo Cibest Price Performance

Grupo Cibest stock opened at $97.32 on Tuesday. Grupo Cibest S.A. - Sponsored ADR has a 12-month low of $50.72 and a 12-month high of $105.60. The firm has a 50-day moving average price of $94.26 and a 200-day moving average price of $80.14. The firm has a market capitalization of $23.09 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 0.74 and a beta of 0.65. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.18.

Grupo Cibest (NYSE:CIB - Get Free Report) last released its earnings results on Monday, August 10th. The bank reported $3.32 EPS for the quarter, beating analysts' consensus estimates of $2.14 by $1.18. The firm had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.40 billion. Grupo Cibest had a return on equity of 20.87% and a net margin of 10.80%. As a group, equities research analysts forecast that Grupo Cibest S.A. - Sponsored ADR will post 10.87 EPS for the current year.

Grupo Cibest Announces Dividend

The company also recently declared a special dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 8th were paid a dividend of $1.6324 per share. The ex-dividend date was Tuesday, September 8th. Grupo Cibest's dividend payout ratio (DPR) is currently 103.70%.

Grupo Cibest Profile

Grupo Cibest SA is a Colombian financial holding company formerly known as Bancolombia SA Through its subsidiaries, the group provides banking, payments, investment, insurance and other financial services to individuals, businesses and institutional customers.

Its principal banking operations are conducted through Bancolombia, which offers checking and savings accounts, consumer and commercial lending, mortgages, credit and debit cards, cash management, investment products and digital banking services.

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