Nykredit A S Purchases New Holdings in Grupo Cibest S.A. - Sponsored ADR $CIB

Key Points

• Nykredit A/S initiated a position in Grupo Cibest, purchasing 70,362 shares valued at approximately $5.6 million. Other institutional investors, including Millennium Management and Marshall Wace, also significantly increased their holdings.
• Analyst sentiment improved, with JPMorgan and Goldman Sachs upgrading the stock and raising their price targets to $110. Despite this, the consensus rating remains “Hold,” with an average target price of $90.83.
• Grupo Cibest reported quarterly earnings of $3.32 per share, beating estimates by $1.18, and announced a special dividend of $1.6324 per share. The stock opened at $100.55, near its 52-week high.

Nykredit A S bought 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 bought 70,362 shares of the bank's stock, valued at approximately $5,589,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC lifted its stake in Grupo Cibest by 527.0% during the first quarter. Millennium Management LLC now owns 316,877 shares of the bank's stock worth $12,738,000 after purchasing an additional 266,341 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Grupo Cibest by 62.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 142,018 shares of the bank's stock worth $5,709,000 after buying an additional 54,497 shares during the period. Marshall Wace LLP lifted its holdings in shares of Grupo Cibest by 288.4% during the second quarter. Marshall Wace LLP now owns 40,269 shares of the bank's stock worth $1,860,000 after purchasing an additional 29,902 shares during the period. Cerity Partners LLC acquired a new position in Grupo Cibest during the 2nd quarter worth about $349,000. Finally, Qube Research & Technologies Ltd lifted its stake in shares of Grupo Cibest by 158.7% in the second quarter. Qube Research & Technologies Ltd now owns 254,287 shares of the bank's stock worth $11,746,000 after acquiring an additional 155,985 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CIB shares. Zacks Research upgraded shares of Grupo Cibest from a "hold" rating to a "strong-buy" rating in a report on Friday, July 17th. JPMorgan Chase & Co. upgraded Grupo Cibest from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $70.00 to $110.00 in a report on Tuesday, August 11th. Bank of America raised shares of Grupo Cibest from an "underperform" rating to a "neutral" rating and raised their price target for the company from $68.00 to $75.00 in a research report on Monday, June 1st. Royal Bank Of Canada set a $110.00 price objective on shares of Grupo Cibest in a report on Tuesday, August 11th. Finally, The Goldman Sachs Group boosted their target price on Grupo Cibest from $98.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $90.83.

Grupo Cibest Price Performance

Grupo Cibest stock opened at $100.55 on Monday. Grupo Cibest S.A. - Sponsored ADR has a one year low of $50.70 and a one year high of $103.50. The business has a fifty day moving average price of $89.94 and a 200-day moving average price of $78.15. 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 $23.86 billion, a P/E ratio of 19.60, a PEG ratio of 0.77 and a beta of 0.65.

Grupo Cibest (NYSE:CIB - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The bank reported $3.32 earnings per share for the quarter, beating the consensus estimate 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 firm also recently announced a special dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 8th will be given a dividend of $1.6324 per share. The ex-dividend date is Tuesday, September 8th. Grupo Cibest's payout ratio is presently 103.70%.

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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