Grupo Cibest (NYSE:CIB) Announces Quarterly Earnings Results

Key Points

• Grupo Cibest reported quarterly EPS of $3.32, exceeding analysts’ consensus estimate of $2.14 by $1.18. The bank posted a 21.07% return on equity and an 8.41% net margin.
• The company increased its quarterly dividend to $1.304 per share, or $5.22 annualized, implying a 5.7% yield; its payout ratio stands at 147.5%.
• CIB shares rose to $91.63, near their 12-month high of $94.21, while analysts maintained a consensus “Hold” rating with a $76.60 price target despite some recent upgrades.

Grupo Cibest (NYSE:CIB - Get Free Report) posted its quarterly earnings data on Monday. The bank reported $3.32 EPS for the quarter, beating analysts' consensus estimates of $2.14 by $1.18, Zacks reports. Grupo Cibest had a return on equity of 21.07% and a net margin of 8.41%.

Grupo Cibest Price Performance

NYSE CIB traded up $2.78 during mid-day trading on Monday, hitting $91.63. The stock had a trading volume of 265,671 shares, compared to its average volume of 408,904. The firm's 50 day moving average is $81.57 and its 200 day moving average is $75.58. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $21.74 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 1.01 and a beta of 0.67. Grupo Cibest has a twelve month low of $46.93 and a twelve month high of $94.21.

Grupo Cibest Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Tuesday, June 30th were given a dividend of $1.304 per share. The ex-dividend date was Tuesday, June 30th. This is a positive change from Grupo Cibest's previous quarterly dividend of $1.22. This represents a $5.22 annualized dividend and a dividend yield of 5.7%. Grupo Cibest's dividend payout ratio (DPR) is presently 147.50%.

Institutional Investors Weigh In On Grupo Cibest

A number of large investors have recently modified their holdings of the business. Arax Advisory Partners raised its position in shares of Grupo Cibest by 2,525.0% in the fourth quarter. Arax Advisory Partners now owns 525 shares of the bank's stock valued at $33,000 after buying an additional 505 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Grupo Cibest by 105.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank's stock valued at $35,000 after acquiring an additional 280 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Grupo Cibest by 796.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 977 shares of the bank's stock valued at $45,000 after acquiring an additional 868 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in 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 acquiring an additional 355 shares during the last quarter. Finally, State of Wyoming raised its holdings in Grupo Cibest by 17.6% in the 4th quarter. State of Wyoming now owns 3,140 shares of the bank's stock valued at $200,000 after acquiring an additional 470 shares during the last quarter.

Wall Street Analysts Forecast Growth

CIB has been the topic of a number of recent analyst reports. Zacks Research upgraded Grupo Cibest from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 17th. JPMorgan Chase & Co. boosted their price target on shares of Grupo Cibest from $65.00 to $70.00 and gave the stock a "neutral" rating in a report on Monday, May 18th. Weiss Ratings restated a "hold (c)" rating on shares of Grupo Cibest in a research report on Tuesday, July 21st. Bank of America raised shares of Grupo Cibest from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $68.00 to $75.00 in a report on Monday, June 1st. Finally, UBS Group lifted their target price on shares of Grupo Cibest from $52.00 to $72.00 and gave the company a "neutral" rating in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $76.60.

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.

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