SPX Gestao de Recursos Ltda Takes $1.18 Million Position in Grupo Cibest S.A. - Sponsored ADR $CIB

Key Points

• SPX Gestao de Recursos Ltda opened a new position in Grupo Cibest, buying 16,242 shares worth about $1.18 million in the first quarter.
• Grupo Cibest reported Q1 earnings below expectations, posting $1.62 EPS versus the $1.84 consensus and revenue of $1.69 billion versus the expected $2.04 billion.
• The company raised its quarterly dividend to $1.304 per share, equal to a 6.5% annualized yield, while analysts currently have a Hold/Reduce-leaning view with an average target price of $73.20.

SPX Gestao de Recursos Ltda acquired a new position in shares of Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,242 shares of the bank's stock, valued at approximately $1,183,000.

A number of other large investors have also recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new position in Grupo Cibest in the fourth quarter worth approximately $31,000. Arax Advisory Partners increased its position in shares of Grupo Cibest by 2,525.0% in the 4th quarter. Arax Advisory Partners now owns 525 shares of the bank's stock valued at $33,000 after purchasing an additional 505 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Grupo Cibest by 105.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank's stock valued at $35,000 after purchasing an additional 280 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new stake in shares of Grupo Cibest in the 4th quarter valued at $43,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Grupo Cibest by 89.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 753 shares of the bank's stock valued at $48,000 after purchasing an additional 355 shares in the last quarter.

Grupo Cibest Stock Up 1.2%

Shares of NYSE:CIB opened at $80.41 on Friday. The firm has a 50 day simple moving average of $74.91 and a 200-day simple moving average of $73.51. Grupo Cibest S.A. - Sponsored ADR has a twelve month low of $43.20 and a twelve month high of $87.68. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $19.08 billion, a PE ratio of 22.34, a P/E/G ratio of 0.92 and a beta of 0.67.

Grupo Cibest (NYSE:CIB - Get Free Report) last posted its earnings results on Monday, May 4th. The bank reported $1.62 EPS for the quarter, missing analysts' consensus estimates of $1.84 by ($0.22). Grupo Cibest had a net margin of 8.41% and a return on equity of 21.07%. The company had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $2.04 billion. On average, equities analysts predict that Grupo Cibest S.A. - Sponsored ADR will post 8.87 EPS for the current fiscal year.

Grupo Cibest Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Tuesday, June 30th were paid a $1.304 dividend. This is a boost from Grupo Cibest's previous quarterly dividend of $1.22. This represents a $5.22 annualized dividend and a yield of 6.5%. The ex-dividend date was Tuesday, June 30th. Grupo Cibest's payout ratio is currently 147.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CIB shares. JPMorgan Chase & Co. boosted their target price on shares of Grupo Cibest from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Monday, May 18th. Itau BBA Securities upgraded Grupo Cibest from a "strong sell" rating to a "market perform" rating in a research note on Tuesday, May 26th. UBS Group lifted their price target on Grupo Cibest from $52.00 to $72.00 and gave the stock a "neutral" rating in a report on Thursday, April 23rd. Weiss Ratings cut Grupo Cibest from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, April 24th. Finally, The Goldman Sachs Group increased their price objective on Grupo Cibest from $71.00 to $81.00 and gave the company a "neutral" rating in a report on Thursday. Eight analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Grupo Cibest has a consensus rating of "Reduce" and an average target price of $73.20.

About Grupo Cibest

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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