Grupo Cibest (NYSE:CIB) Sets New 52-Week High Following Earnings Beat

Key Points

• Grupo Cibest shares hit a new 52-week high of $100 after the bank reported quarterly EPS of $3.32, far exceeding the $2.14 consensus estimate. Revenue was $2.31 billion, slightly above analyst expectations.
• The company raised its quarterly dividend to $1.304 per share, equivalent to $5.22 annually and a 5.3% yield, though its payout ratio is elevated at 147.78%.
• Analyst sentiment has improved, with Goldman Sachs and JPMorgan upgrading the stock and setting targets of $98 and $110, respectively. Despite the upgrades, the overall consensus remains “Hold”, with an average price target of $88.83.

Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $100.00 and last traded at $99.1360, with a volume of 89938 shares traded. The stock had previously closed at $91.47.

The bank reported $3.32 earnings per share for the quarter, beating the consensus estimate of $2.14 by $1.18. Grupo Cibest had a return on equity of 21.07% and a net margin of 8.41%.The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.28 billion.

Grupo Cibest Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Tuesday, June 30th were issued a dividend of $1.304 per share. This is a boost from Grupo Cibest's previous quarterly dividend of $1.22. This represents a $5.22 annualized dividend and a yield of 5.3%. The ex-dividend date was Tuesday, June 30th. Grupo Cibest's dividend payout ratio is presently 147.78%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CIB shares. The Goldman Sachs Group upgraded Grupo Cibest from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $81.00 to $98.00 in a report on Tuesday, July 28th. Zacks Research raised Grupo Cibest from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 17th. JPMorgan Chase & Co. upgraded shares of Grupo Cibest from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $70.00 to $110.00 in a report on Tuesday. UBS Group lifted their price target on shares of Grupo Cibest from $52.00 to $72.00 and gave the company a "neutral" rating in a research note on Thursday, April 23rd. Finally, Itau BBA Securities upgraded shares of Grupo Cibest from a "strong sell" rating to a "market perform" rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Grupo Cibest currently has a consensus rating of "Hold" and a consensus price target of $88.83.

Hedge Funds Weigh In On Grupo Cibest

Several hedge funds have recently made changes to their positions in CIB. Arax Advisory Partners lifted 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 worth $33,000 after purchasing an additional 505 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Grupo Cibest by 105.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank's stock valued at $35,000 after purchasing an additional 280 shares in the last quarter. TD Waterhouse Canada Inc. acquired a new stake in Grupo Cibest in the 4th quarter valued at $43,000. Caitong International Asset Management Co. Ltd increased its stake 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 buying an additional 355 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Grupo Cibest by 796.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 977 shares of the bank's stock worth $45,000 after buying an additional 868 shares in the last quarter.

Grupo Cibest Stock Performance

The stock's 50 day moving average price is $81.93 and its 200 day moving average price is $75.68. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $23.39 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 1.01 and a beta of 0.67.

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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