Triasima Portfolio Management inc. Buys 34,280 Shares of Grupo Cibest S.A. - Sponsored ADR $CIB

Key Points

• Triasima Portfolio Management boosted its stake in Grupo Cibest (NYSE:CIB) by 32.5%, buying 34,280 shares to hold 139,897 shares — about 0.06% of the company worth roughly $8.9M, and representing ~1.3% of Triasima’s portfolio (its 24th largest holding).
• Analysts are cautious overall: MarketBeat shows an average rating of "Reduce" with a consensus price target of $66.00, amid mixed upgrades and downgrades from firms including Goldman Sachs, UBS, Itau BBA and Citigroup.
• Grupo Cibest paid a quarterly dividend of $1.2182 (annualized $4.87), implying a 7.3% yield, though the payout ratio is high at about 133.6%.

Triasima Portfolio Management inc. boosted its stake in shares of Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Free Report) by 32.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 139,897 shares of the bank's stock after buying an additional 34,280 shares during the quarter. Grupo Cibest makes up approximately 1.3% of Triasima Portfolio Management inc.'s portfolio, making the stock its 24th largest holding. Triasima Portfolio Management inc. owned about 0.06% of Grupo Cibest worth $8,899,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH grew its position in Grupo Cibest by 25.1% during the third quarter. Allianz Asset Management GmbH now owns 222,803 shares of the bank's stock valued at $11,572,000 after buying an additional 44,666 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in Grupo Cibest by 20.1% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 78,130 shares of the bank's stock valued at $4,058,000 after buying an additional 13,078 shares during the period. Thrivent Financial for Lutherans bought a new position in Grupo Cibest during the third quarter valued at about $4,113,000. JPMorgan Chase & Co. grew its position in Grupo Cibest by 4.3% during the third quarter. JPMorgan Chase & Co. now owns 980,426 shares of the bank's stock valued at $50,923,000 after buying an additional 40,447 shares during the period. Finally, Mirabella Financial Services LLP bought a new position in Grupo Cibest during the third quarter valued at about $820,000.

Analyst Upgrades and Downgrades

CIB has been the subject of several research reports. Itau BBA Securities lowered shares of Grupo Cibest from a "market perform" rating to an "underperform" rating and set a $68.00 price target for the company. in a research report on Thursday, February 26th. Weiss Ratings lowered shares of Grupo Cibest from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, April 24th. The Goldman Sachs Group upped their price objective on shares of Grupo Cibest from $69.00 to $76.00 and gave the company a "neutral" rating in a report on Wednesday, February 25th. UBS Group upped their price objective on shares of Grupo Cibest from $52.00 to $72.00 and gave the company a "neutral" rating in a report on Thursday, April 23rd. Finally, Citigroup downgraded shares of Grupo Cibest from a "buy" rating to a "neutral" rating in a report on Wednesday, January 21st. Six investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Grupo Cibest has an average rating of "Reduce" and a consensus price target of $66.00.

Grupo Cibest Price Performance

NYSE CIB opened at $66.96 on Monday. The company has a market cap of $16.10 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 1.16 and a beta of 0.71. Grupo Cibest S.A. - Sponsored ADR has a 52 week low of $40.07 and a 52 week high of $86.31. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.41. The firm's 50-day simple moving average is $71.24 and its two-hundred day simple moving average is $68.58.

Grupo Cibest Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Shareholders of record on Tuesday, March 31st were issued a dividend of $1.2182 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $4.87 annualized dividend and a yield of 7.3%. Grupo Cibest's dividend payout ratio is 133.61%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.