Patriot Financial Group Insurance Agency LLC Takes Position in Grupo Cibest S.A. - Sponsored ADR $CIB

Key Points

• Patriot Financial Group Insurance Agency LLC has acquired a new position in Grupo Cibest S.A. - Sponsored ADR, purchasing 8,302 shares valued at approximately $383,000 in the second quarter.
• Several hedge funds, including Millennium Management LLC, have increased their stakes significantly in Grupo Cibest during the first quarter, reflecting growing institutional interest in the bank's stock.
• Grupo Cibest recently reported an earnings per share (EPS) of $1.79, beating the consensus estimate of $1.66, with revenues for the quarter reaching $1.80 billion.

Patriot Financial Group Insurance Agency LLC bought a new position in shares of Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,302 shares of the bank's stock, valued at approximately $383,000.

A number of other hedge funds also recently modified their holdings of the stock. Earnest Partners LLC lifted its stake in shares of Grupo Cibest by 2.3% during the 1st quarter. Earnest Partners LLC now owns 2,566,128 shares of the bank's stock worth $103,158,000 after buying an additional 56,475 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Grupo Cibest by 18.0% during the 1st quarter. Russell Investments Group Ltd. now owns 330,931 shares of the bank's stock worth $13,303,000 after buying an additional 50,409 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Grupo Cibest by 527.0% during the 1st quarter. Millennium Management LLC now owns 316,877 shares of the bank's stock worth $12,738,000 after buying an additional 266,341 shares during the last quarter. RWC Asset Management LLP acquired a new stake in shares of Grupo Cibest during the 1st quarter worth about $12,536,000. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Grupo Cibest by 176.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 239,710 shares of the bank's stock worth $9,636,000 after buying an additional 153,058 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CIB. Bank of America restated an "underperform" rating on shares of Grupo Cibest in a research note on Thursday, September 11th. Zacks Research upgraded shares of Grupo Cibest from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 24th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Grupo Cibest in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Grupo Cibest has a consensus rating of "Hold" and an average target price of $43.75.

Grupo Cibest Price Performance

CIB stock opened at $52.22 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.29. Grupo Cibest S.A. - Sponsored ADR has a 12 month low of $30.65 and a 12 month high of $53.99. The firm has a market cap of $12.56 billion, a P/E ratio of 7.92, a P/E/G ratio of 1.03 and a beta of 0.94. The company's 50-day moving average price is $49.68 and its two-hundred day moving average price is $44.88.

Grupo Cibest (NYSE:CIB - Get Free Report) last released its earnings results on Thursday, August 7th. The bank reported $1.79 EPS for the quarter, beating the consensus estimate of $1.66 by $0.13. Grupo Cibest had a net margin of 15.30% and a return on equity of 19.77%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.75 billion. On average, analysts anticipate that Grupo Cibest S.A. - Sponsored ADR will post 6 earnings per share for the current fiscal year.

About Grupo Cibest

Bancolombia SA, together with its subsidiaries, provides banking products and services in Colombia and internationally. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.

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