Vanguard Group Inc. Raises Stake in Grupo Cibest S.A. - Sponsored ADR $CIB

Key Points

• Vanguard Group increased its stake in Grupo Cibest by 2.2% in the fourth quarter, ending with 3.09 million shares valued at about $196.5 million.
• Grupo Cibest reported weaker-than-expected quarterly results, posting EPS of $1.62 versus $1.84 expected and revenue of $1.69 billion versus $2.04 billion projected.
• The bank recently paid a quarterly dividend of $1.2182 per share, implying a 7.5% annualized yield, though the payout ratio is high at 135.83%.

Vanguard Group Inc. lifted its position in shares of Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,089,670 shares of the bank's stock after buying an additional 67,986 shares during the quarter. Vanguard Group Inc. owned approximately 1.28% of Grupo Cibest worth $196,534,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allianz Asset Management GmbH grew its holdings in shares of Grupo Cibest by 25.1% during the third quarter. Allianz Asset Management GmbH now owns 222,803 shares of the bank's stock worth $11,572,000 after buying an additional 44,666 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Grupo Cibest by 4.3% during the third quarter. JPMorgan Chase & Co. now owns 980,426 shares of the bank's stock worth $50,923,000 after buying an additional 40,447 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Grupo Cibest by 20.1% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 78,130 shares of the bank's stock worth $4,058,000 after buying an additional 13,078 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of Grupo Cibest during the third quarter worth about $4,113,000. Finally, Capital Wealth Planning LLC grew its holdings in shares of Grupo Cibest by 31.6% during the third quarter. Capital Wealth Planning LLC now owns 284,643 shares of the bank's stock worth $14,784,000 after buying an additional 68,425 shares in the last quarter.

Grupo Cibest Price Performance

CIB opened at $65.30 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.41. Grupo Cibest S.A. - Sponsored ADR has a 52-week low of $40.26 and a 52-week high of $86.31. The company has a 50 day moving average of $70.47 and a two-hundred day moving average of $68.79. The company has a market cap of $15.70 billion, a P/E ratio of 18.14, a P/E/G ratio of 0.95 and a beta of 0.71.

Grupo Cibest (NYSE:CIB - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The bank reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.22). Grupo Cibest had a return on equity of 23.86% and a net margin of 8.41%.The business had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $2.04 billion. On average, analysts expect that Grupo Cibest S.A. - Sponsored ADR will post 9.07 earnings per share for the current year.

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 paid a dividend of $1.2182 per share. This represents a $4.87 annualized dividend and a yield of 7.5%. The ex-dividend date was Tuesday, March 31st. Grupo Cibest's payout ratio is currently 135.83%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Weiss Ratings downgraded shares of Grupo Cibest from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, April 24th. Itau BBA Securities downgraded 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 report on Thursday, February 26th. Zacks Research downgraded shares of Grupo Cibest from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 20th. The Goldman Sachs Group boosted their target price 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. Finally, Citigroup downgraded shares of Grupo Cibest from a "buy" rating to a "neutral" rating in a report on Wednesday, January 21st. Six analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, Grupo Cibest has an average rating of "Reduce" and a consensus price target of $66.00.

Grupo Cibest Company 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.

Want to see what other hedge funds are holding CIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Free Report).

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.