Grupo Cibest (NYSE:CIB) Sets New 1-Year High - Time to Buy?

Key Points

• Grupo Cibest reached a new 52-week high, trading as high as $100.93 and closing near $100.37. Its shares have risen well above the 50-day and 200-day moving averages.
• Analyst sentiment has improved, with Goldman Sachs raising its price target to $110 and Citigroup upgrading the stock to “buy.” However, the overall consensus remains “Hold,” with a target price of $90.83—below the current share price.
• The bank beat quarterly EPS estimates by $1.18, reporting $3.32 per share, and increased its quarterly dividend to $1.4438. The annualized dividend yield is approximately 5.7%, though the payout ratio is high at 103.7%.

Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $100.93 and last traded at $100.37, with a volume of 16736 shares changing hands. The stock had previously closed at $98.65.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Bank of America raised shares of Grupo Cibest from an "underperform" rating to a "neutral" rating and raised their price target for the company from $68.00 to $75.00 in a research note on Monday, June 1st. Zacks Research raised Grupo Cibest from a "hold" rating to a "strong-buy" rating in a report on Friday, July 17th. Weiss Ratings upgraded Grupo Cibest from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday. The Goldman Sachs Group lifted their price target on Grupo Cibest from $98.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Finally, Citigroup upgraded Grupo Cibest from a "hold" rating to a "buy" rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $90.83.

Grupo Cibest Stock Performance

The stock has a market cap of $24.08 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 0.76 and a beta of 0.67. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a fifty day moving average of $85.65 and a 200 day moving average of $76.54.

Grupo Cibest (NYSE:CIB - Get Free Report) last issued its earnings results on Monday, August 10th. The bank reported $3.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $1.18. The company had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.40 billion. Grupo Cibest had a return on equity of 20.87% and a net margin of 10.80%. As a group, sell-side analysts forecast that Grupo Cibest S.A. - Sponsored ADR will post 10.87 EPS for the current year.

Grupo Cibest Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Wednesday, September 30th will be paid a $1.4438 dividend. This is a positive change from Grupo Cibest's previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $5.78 annualized dividend and a dividend yield of 5.7%. Grupo Cibest's dividend payout ratio is currently 103.70%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Arax Advisory Partners grew its stake 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 worth $33,000 after acquiring an additional 505 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Grupo Cibest by 105.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank's stock worth $35,000 after purchasing an additional 280 shares during the period. TD Waterhouse Canada Inc. purchased a new stake in Grupo Cibest during the 4th quarter worth about $43,000. Tower Research Capital LLC TRC raised its position in Grupo Cibest by 796.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 977 shares of the bank's stock valued at $45,000 after purchasing an additional 868 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake 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 buying an additional 355 shares during the period.

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.

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