Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB) Short Interest Update

Key Points

• Short interest in Grupo Cibest fell 33.4% to 723,387 shares as of March 31, leaving a short-interest ratio of 1.6 days and just 0.3% of shares sold short.
• Analysts’ consensus is "Reduce" with an average target price of $59.20, materially below the recent share price near $77.53 and reflecting mostly Hold/Sell ratings.
• The company paid a quarterly dividend of $1.2182 (annualized $4.87) for a 6.3% yield, but the payout ratio is an elevated 133.88%, raising questions about dividend sustainability.

Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Get Free Report) was the target of a large decline in short interest in March. As of March 31st, there was short interest totaling 723,387 shares, a decline of 33.4% from the March 15th total of 1,085,549 shares. Based on an average daily trading volume, of 456,437 shares, the short-interest ratio is presently 1.6 days. Currently, 0.3% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Santander lowered shares of Grupo Cibest to an "underperform" rating in a research note on Wednesday, December 17th. Citigroup lowered shares of Grupo Cibest from a "buy" rating to a "neutral" rating in a research note on Wednesday, January 21st. Weiss Ratings lowered shares of Grupo Cibest from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday. Itau BBA Securities lowered shares of Grupo Cibest from a "market perform" rating to an "underperform" rating and set a $68.00 price objective for the company. in a research note on Thursday, February 26th. Finally, 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 research note on Wednesday, February 25th. Six investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $59.20.

Grupo Cibest Price Performance

Shares of CIB traded up $0.28 during mid-day trading on Tuesday, reaching $77.53. 297,348 shares of the stock traded hands, compared to its average volume of 351,570. The firm has a fifty day moving average price of $72.71 and a 200 day moving average price of $66.96. The company has a market cap of $18.64 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 1.33 and a beta of 0.80. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.41. Grupo Cibest has a 1 year low of $38.02 and a 1 year high of $86.31.

Grupo Cibest Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 13th. Stockholders of record on Tuesday, March 31st were given a dividend of $1.2182 per share. This represents a $4.87 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date was Tuesday, March 31st. Grupo Cibest's payout ratio is 133.88%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CIB. Millennium Management LLC grew its position in shares of Grupo Cibest by 527.0% during the 1st quarter. Millennium Management LLC now owns 316,877 shares of the bank's stock valued at $12,738,000 after purchasing an additional 266,341 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Grupo Cibest by 62.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 142,018 shares of the bank's stock valued at $5,709,000 after purchasing an additional 54,497 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Grupo Cibest by 288.4% during the 2nd 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 last quarter. Cerity Partners LLC bought a new stake in shares of Grupo Cibest during the 2nd quarter worth $349,000. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Grupo Cibest by 158.7% during the 2nd quarter. Qube Research & Technologies Ltd now owns 254,287 shares of the bank's stock worth $11,746,000 after acquiring an additional 155,985 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.

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