Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB) Short Interest Up 55.9% in July

Key Points

• Short interest increased 55.9% in July to 710,627 shares, representing approximately 0.3% of Grupo Cibest’s shares and 2.3 days of average trading volume.
• Analyst sentiment remains mixed, with an average rating of “Hold” and an average price target of $90.83; Goldman Sachs and RBC set targets of $110, while Citigroup upgraded the stock to “Buy.”
• Grupo Cibest reported quarterly EPS of $3.32, beating estimates by $1.18, and raised its quarterly dividend to $1.304, implying a 5.4% annualized yield.

Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Get Free Report) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 710,627 shares, an increase of 55.9% from the July 15th total of 455,922 shares. Based on an average trading volume of 307,428 shares, the days-to-cover ratio is currently 2.3 days. Approximately 0.3% of the company's stock are sold short.

Hedge Funds Weigh In On Grupo Cibest

Several institutional investors have recently bought and sold shares of the company. Millennium Management LLC lifted its stake in shares of Grupo Cibest by 527.0% in the 1st quarter. Millennium Management LLC now owns 316,877 shares of the bank's stock worth $12,738,000 after acquiring an additional 266,341 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Grupo Cibest by 62.3% during the first quarter. Goldman Sachs Group Inc. now owns 142,018 shares of the bank's stock worth $5,709,000 after acquiring an additional 54,497 shares during the period. Marshall Wace LLP increased its stake in shares of Grupo Cibest by 288.4% during the second quarter. Marshall Wace LLP now owns 40,269 shares of the bank's stock worth $1,860,000 after acquiring an additional 29,902 shares during the period. Cerity Partners LLC acquired a new position in shares of Grupo Cibest during the second quarter worth about $349,000. Finally, Qube Research & Technologies Ltd raised its holdings in Grupo Cibest by 158.7% during the second quarter. Qube Research & Technologies Ltd now owns 254,287 shares of the bank's stock worth $11,746,000 after purchasing an additional 155,985 shares in the last quarter.

Analysts Set New Price Targets

CIB has been the subject of several recent analyst reports. Royal Bank Of Canada set a $110.00 target price on Grupo Cibest in a research note on Tuesday, August 11th. Itau BBA Securities upgraded shares of Grupo Cibest from a "strong sell" rating to a "market perform" rating in a research note on Tuesday, May 26th. Citigroup upgraded shares of Grupo Cibest from a "hold" rating to a "buy" rating in a research note on Thursday. The Goldman Sachs Group raised their price objective on shares of Grupo Cibest from $98.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Grupo Cibest in a research report on Tuesday, July 21st. 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 given a Sell rating to the company's stock. According to MarketBeat.com, Grupo Cibest presently has an average rating of "Hold" and an average target price of $90.83.

Grupo Cibest Stock Down 0.0%

CIB opened at $96.34 on Tuesday. Grupo Cibest has a one year low of $48.59 and a one year high of $100.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $22.86 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 0.74 and a beta of 0.67. The business's 50-day simple moving average is $84.37 and its 200-day simple moving average is $76.21.

Grupo Cibest (NYSE:CIB - Get Free Report) last announced 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 firm 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%. Analysts anticipate that Grupo Cibest will post 10.87 EPS for the current year.

Grupo Cibest Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Tuesday, June 30th were paid a $1.304 dividend. This is a boost from Grupo Cibest's previous quarterly dividend of $1.22. This represents a $5.22 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date was Tuesday, June 30th. Grupo Cibest's dividend payout ratio (DPR) is presently 103.70%.

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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