Grupo Cibest (NYSE:CIB) Sets New 12-Month High - Here's What Happened

Key Points

• Grupo Cibest shares hit a new 52-week high of $87.69, continuing a strong run as the stock traded above its prior close.
• Several analysts have recently raised price targets on the stock, with the consensus rating remaining Hold and an average target of $73.20.
• The company recently increased its quarterly dividend to $1.304 per share, which translates to an annualized yield of about 6.0%, though its payout ratio is high at 147.78%.

Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Get Free Report) shares reached a new 52-week high on Friday . The company traded as high as $87.69 and last traded at $87.5730, with a volume of 57325 shares trading hands. The stock had previously closed at $86.79.

Analysts Set New Price Targets

CIB has been the topic of a number of recent analyst reports. UBS Group raised their price target on Grupo Cibest from $52.00 to $72.00 and gave the company a "neutral" rating in a report on Thursday, April 23rd. Itau BBA Securities upgraded Grupo Cibest from a "strong sell" rating to a "market perform" rating in a research note on Tuesday, May 26th. Bank of America raised shares of Grupo Cibest from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $68.00 to $75.00 in a report on Monday, June 1st. The Goldman Sachs Group upped their target price on shares of Grupo Cibest from $71.00 to $81.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Grupo Cibest from $65.00 to $70.00 and gave the company a "neutral" rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $73.20.

Grupo Cibest Trading Up 0.3%

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.98 and a current ratio of 0.98. The stock's fifty day moving average is $76.51 and its 200 day moving average is $74.15. The stock has a market cap of $20.67 billion, a P/E ratio of 24.21, a P/E/G ratio of 0.97 and a beta of 0.67.

Grupo Cibest (NYSE:CIB - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The bank reported $1.62 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.22). Grupo Cibest had a return on equity of 21.07% and a net margin of 8.41%.The company had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $2.04 billion. As a group, equities research analysts predict that Grupo Cibest S.A. - Sponsored ADR will post 8.87 earnings per share for the current fiscal year.

Grupo Cibest Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Tuesday, June 30th were issued a $1.304 dividend. This is a positive change from Grupo Cibest's previous quarterly dividend of $1.22. The ex-dividend date was Tuesday, June 30th. This represents a $5.22 dividend on an annualized basis and a dividend yield of 6.0%. Grupo Cibest's dividend payout ratio (DPR) is presently 147.78%.

Institutional Trading of Grupo Cibest

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ieq Capital LLC boosted its stake in Grupo Cibest by 2.6% during the fourth quarter. Ieq Capital LLC now owns 7,961 shares of the bank's stock worth $506,000 after buying an additional 205 shares during the period. Signaturefd LLC raised its stake in shares of Grupo Cibest by 5.3% in the fourth quarter. Signaturefd LLC now owns 4,905 shares of the bank's stock valued at $312,000 after acquiring an additional 248 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Grupo Cibest by 105.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank's stock worth $35,000 after acquiring an additional 280 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of Grupo Cibest by 2.1% in the 4th quarter. Ballentine Partners LLC now owns 16,229 shares of the bank's stock worth $1,032,000 after acquiring an additional 332 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Grupo Cibest by 89.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 753 shares of the bank's stock worth $48,000 after purchasing an additional 355 shares during the period.

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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