Grupo Cibest (NYSE:CIB) Hits New 1-Year High - Here's Why

Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $103.50 and last traded at $100.91, with a volume of 233498 shares trading hands. The stock had previously closed at $103.26.

Analysts Set New Price Targets

CIB has been the topic of a number of research analyst reports. Royal Bank Of Canada set a $110.00 price target on Grupo Cibest in a research note on Tuesday, August 11th. Citigroup raised Grupo Cibest from a "hold" rating to a "buy" rating in a report on Thursday, August 13th. The Goldman Sachs Group boosted their price target on Grupo Cibest from $98.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Itau BBA Securities raised shares of Grupo Cibest from a "strong sell" rating to a "market perform" rating in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. raised Grupo Cibest from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $70.00 to $110.00 in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Grupo Cibest currently has an average rating of "Hold" and a consensus target price of $90.83.

Grupo Cibest Stock Performance

The company has a market capitalization of $23.95 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67. 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's 50 day moving average price is $87.41 and its 200 day moving average price is $77.16.

Grupo Cibest (NYSE:CIB - Get Free Report) last issued its earnings results on Monday, August 10th. The bank reported $3.32 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $1.18. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.40 billion. Grupo Cibest had a return on equity of 20.87% and a net margin of 10.80%. As a group, equities analysts expect that Grupo Cibest S.A. - Sponsored ADR will post 10.87 EPS for the current year.

Grupo Cibest Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Wednesday, September 30th will be issued a $1.4438 dividend. The ex-dividend date is Wednesday, September 30th. This is a positive change from Grupo Cibest's previous quarterly dividend of $1.30. This represents a $5.78 dividend on an annualized basis and a yield of 5.7%. Grupo Cibest's dividend payout ratio is 103.70%.

Hedge Funds Weigh In On Grupo Cibest

Several large investors have recently added to or reduced their stakes in the business. Arax Advisory Partners lifted its holdings 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 valued at $33,000 after purchasing an additional 505 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Grupo Cibest by 105.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank's stock worth $35,000 after buying an additional 280 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Grupo Cibest by 796.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 977 shares of the bank's stock valued at $45,000 after buying an additional 868 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Grupo Cibest by 89.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 753 shares of the bank's stock valued at $48,000 after acquiring an additional 355 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Grupo Cibest in the 2nd quarter worth $79,000.

About Grupo Cibest

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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