Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB) Declares Quarterly Dividend of $1.22

Key Points

• Quarterly dividend of $1.2182 per ADR declared, payable April 13 to shareholders of record March 31 (ex-dividend date March 31), implying a 7.0% yield.
• The dividend appears reasonably covered with a payout ratio of 71.8%; analysts forecast $6.28 EPS next year, implying an expected payout ratio of about 74.4%.
• Shares traded at $69.95 (down 1.1%) with a $16.82B market cap, but analyst sentiment is weak—consensus rating "Reduce" and a $59.20 target amid mixed recent upgrades/downgrades.

Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Get Free Report) announced a quarterly dividend on Friday, March 20th. Shareholders of record on Tuesday, March 31st will be paid a dividend of 1.2182 per share by the bank on Monday, April 13th. This represents a c) dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Tuesday, March 31st.

Grupo Cibest has raised its dividend by an average of 0.2%annually over the last three years. Grupo Cibest has a payout ratio of 71.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Grupo Cibest to earn $6.28 per share next year, which means the company should continue to be able to cover its $4.67 annual dividend with an expected future payout ratio of 74.4%.

Grupo Cibest Trading Down 1.1%

Shares of CIB stock traded down $0.81 during trading hours on Friday, hitting $69.95. 325,632 shares of the company were exchanged, compared to its average volume of 578,768. The company has a 50 day simple moving average of $74.53 and a two-hundred day simple moving average of $65.05. The firm has a market cap of $16.82 billion, a P/E ratio of 19.11, a P/E/G ratio of 1.20 and a beta of 0.83. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. Grupo Cibest has a fifty-two week low of $35.44 and a fifty-two week high of $86.31.

Analyst Upgrades and Downgrades

CIB has been the subject of several research reports. Santander downgraded shares of Grupo Cibest to an "underperform" rating in a research report on Wednesday, December 17th. Itau BBA Securities lowered shares of Grupo Cibest from a "market perform" rating to an "underperform" rating and set a $68.00 price objective on the stock. in a research note on Thursday, February 26th. The Goldman Sachs Group lifted their price objective on shares of Grupo Cibest from $69.00 to $76.00 and gave the company a "neutral" rating in a report on Wednesday, February 25th. Weiss Ratings reissued a "buy (b-)" rating on shares of Grupo Cibest in a research report on Monday, December 29th. Finally, Zacks Research cut shares of Grupo Cibest from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Grupo Cibest currently has a consensus rating of "Reduce" and a consensus target price of $59.20.

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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