Grupo Cibest (NYSE:CIB) Posts Quarterly Earnings Results, Beats Expectations By $997.16 EPS

Key Points

• EPS surprise: Grupo Cibest reported quarterly earnings of $999.00 per share, beating analysts' consensus of $1.84 by $997.16, and posted a net margin of 8.53% and a return on equity of 23.40%.
• The company paid a quarterly dividend of $1.2182 (annualized $4.87), implying a 7.5% yield but a high payout ratio of 133.61%.
• Shares fell $2 to $65.04 (market cap $15.64B) with a P/E of 17.77, and analysts hold a consensus "Reduce" rating with a $66.00 price target.

Grupo Cibest (NYSE:CIB - Get Free Report) announced its quarterly earnings data on Monday. The bank reported $999.00 earnings per share for the quarter, beating analysts' consensus estimates of $1.84 by $997.16, Zacks reports. Grupo Cibest had a net margin of 8.53% and a return on equity of 23.40%.

Grupo Cibest Stock Performance

Shares of NYSE:CIB traded down $2.00 during trading on Monday, hitting $65.04. 243,511 shares of the stock traded hands, compared to its average volume of 445,160. The company has a fifty day moving average price of $71.24 and a two-hundred day moving average price of $68.58. Grupo Cibest has a 52-week low of $40.07 and a 52-week high of $86.31. The company has a market cap of $15.64 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 1.16 and a beta of 0.71. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 13th. Stockholders of record on Tuesday, March 31st were issued a dividend of $1.2182 per share. This represents a $4.87 annualized dividend and a dividend yield of 7.5%. The ex-dividend date of this dividend was Tuesday, March 31st. Grupo Cibest's payout ratio is 133.61%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Earnest Partners LLC grew its position in shares of Grupo Cibest by 8.8% during the 4th quarter. Earnest Partners LLC now owns 2,697,747 shares of the bank's stock valued at $171,604,000 after acquiring an additional 218,359 shares during the period. Sei Investments Co. grew its holdings in Grupo Cibest by 29.8% in the second quarter. Sei Investments Co. now owns 863,718 shares of the bank's stock valued at $39,895,000 after purchasing an additional 198,228 shares during the period. Itau Unibanco Holding S.A. increased its position in shares of Grupo Cibest by 164.5% in the fourth quarter. Itau Unibanco Holding S.A. now owns 651,368 shares of the bank's stock valued at $41,523,000 after buying an additional 405,098 shares in the last quarter. State Street Corp raised its stake in shares of Grupo Cibest by 1.6% during the 4th quarter. State Street Corp now owns 597,639 shares of the bank's stock worth $38,016,000 after buying an additional 9,259 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Grupo Cibest by 4.6% during the 3rd quarter. Bank of America Corp DE now owns 478,464 shares of the bank's stock valued at $24,851,000 after buying an additional 20,863 shares in the last quarter.

Analyst Ratings Changes

CIB has been the subject of a number of research reports. Citigroup cut Grupo Cibest from a "buy" rating to a "neutral" rating in a research report on Wednesday, January 21st. The Goldman Sachs Group upped their target price on Grupo Cibest from $69.00 to $76.00 and gave the company a "neutral" rating in a research report on Wednesday, February 25th. Zacks Research lowered shares of Grupo Cibest from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 20th. Weiss Ratings cut shares of Grupo Cibest from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, April 24th. Finally, UBS Group increased their price objective on shares of Grupo Cibest from $52.00 to $72.00 and gave the stock a "neutral" rating in a research note on Thursday, April 23rd. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $66.00.

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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