Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB) Declares Quarterly Dividend of $1.44

Key Points

• Grupo Cibest declared a quarterly dividend of $1.4438 per share, a 10.7% increase from $1.30. The dividend is payable October 13 to shareholders of record on September 30, with an annualized yield of approximately 6.0%.
• The bank reported quarterly EPS of $3.32, exceeding analyst estimates of $2.14, while revenue of $2.31 billion fell short of the $2.40 billion consensus.
• Shares rose 0.3% to $96.78, near the stock’s 52-week high of $100.74. Analysts expect $11.53 in EPS next year, implying an estimated dividend payout ratio of 46.1%.

Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Get Free Report) announced a quarterly dividend on Monday, August 17th. Shareholders of record on Wednesday, September 30th will be given a dividend of 1.4438 per share by the bank on Tuesday, October 13th. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a 10.7% increase from Grupo Cibest's previous quarterly dividend of $1.30.

Grupo Cibest has raised its dividend by an average of 0.2%per year over the last three years. Grupo Cibest has a dividend payout ratio of 81.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Research analysts expect Grupo Cibest to earn $11.53 per share next year, which means the company should continue to be able to cover its $5.31 annual dividend with an expected future payout ratio of 46.1%.

Grupo Cibest Stock Up 0.3%

Shares of NYSE:CIB traded up $0.24 during trading on Tuesday, hitting $96.78. 94,810 shares of the company were exchanged, compared to its average volume of 406,538. The stock has a market cap of $22.97 billion, a price-to-earnings ratio of 18.85, a P/E/G ratio of 0.74 and a beta of 0.67. Grupo Cibest has a fifty-two week low of $48.59 and a fifty-two week high of $100.74. The firm has a fifty day moving average price of $84.37 and a two-hundred day moving average price of $76.21. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.18.

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 analysts' consensus estimates of $2.14 by $1.18. The company had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.40 billion. Grupo Cibest had a net margin of 10.80% and a return on equity of 20.87%. As a group, research analysts anticipate that Grupo Cibest will post 10.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Arax Advisory Partners boosted its holdings in Grupo Cibest by 2,525.0% during the 4th quarter. Arax Advisory Partners now owns 525 shares of the bank's stock worth $33,000 after acquiring an additional 505 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of 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 acquiring an additional 280 shares in the last quarter. TD Waterhouse Canada Inc. purchased a new stake in shares of Grupo Cibest during the fourth quarter valued at approximately $43,000. Caitong International Asset Management Co. Ltd boosted its position in Grupo Cibest by 89.2% in the fourth 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 last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Grupo Cibest by 796.3% during 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 during the last quarter.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source