Grupo Cibest (NYSE:CIB) Hits New 12-Month High - Here's Why

Key Points

• Grupo Cibest shares reached a new 52-week high of $105.60, supported by recent analyst upgrades and price-target increases, including Goldman Sachs raising its target to $110.
• The bank reported quarterly EPS of $3.32, substantially exceeding the $2.14 consensus estimate, although revenue of $2.31 billion fell short of expectations.
• Grupo Cibest declared a special dividend of $1.6324 per share, payable September 15 to shareholders of record as of September 8; its current dividend payout ratio is 103.70%.

Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Get Free Report) shares reached a new 52-week high on Friday . The stock traded as high as $105.60 and last traded at $102.5810, with a volume of 15708 shares trading hands. The stock had previously closed at $103.12.

Analyst Ratings Changes

A number of analysts have issued reports on CIB shares. Citigroup upgraded shares of Grupo Cibest from a "hold" rating to a "buy" rating in a report on Thursday, August 13th. Zacks Research upgraded Grupo Cibest from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 17th. Itau BBA Securities raised Grupo Cibest from a "strong sell" rating to a "market perform" rating in a report on Tuesday, May 26th. The Goldman Sachs Group boosted their target price on Grupo Cibest from $98.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Finally, Royal Bank Of Canada set a $110.00 target price on Grupo Cibest in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Grupo Cibest currently has an average rating of "Hold" and a consensus target price of $90.83.

Grupo Cibest Price Performance

The company has a market cap of $24.27 billion, a P/E ratio of 19.90, a PEG ratio of 0.76 and a beta of 0.65. The firm's 50-day moving average is $91.66 and its two-hundred day moving average is $78.77. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.99 and a quick ratio of 0.99.

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

Grupo Cibest Dividend Announcement

The business also recently declared a special dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 8th will be given a $1.6324 dividend. The ex-dividend date is Tuesday, September 8th. Grupo Cibest's dividend payout ratio (DPR) is currently 103.70%.

Institutional Investors Weigh In On Grupo Cibest

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC lifted its stake in shares of Grupo Cibest by 29.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,230 shares of the bank's stock valued at $574,000 after purchasing an additional 1,644 shares during the last quarter. Nykredit A S bought a new position in shares of Grupo Cibest during the 2nd quarter valued at approximately $4,670,000. Corient Private Wealth LP purchased a new stake in Grupo Cibest during the 2nd quarter valued at $528,000. Public Employees Retirement System of Ohio purchased a new stake in Grupo Cibest during the 2nd quarter valued at $79,000. Finally, E. Ohman J or Asset Management AB lifted its position in Grupo Cibest by 12.3% in the second quarter. E. Ohman J or Asset Management AB now owns 14,600 shares of the bank's stock worth $1,160,000 after buying an additional 1,600 shares during the last quarter.

Grupo Cibest Company Profile

Grupo Cibest SA is a Colombian financial holding company formerly known as Bancolombia SA Through its subsidiaries, the group provides banking, payments, investment, insurance and other financial services to individuals, businesses and institutional customers.

Its principal banking operations are conducted through Bancolombia, which offers checking and savings accounts, consumer and commercial lending, mortgages, credit and debit cards, cash management, investment products and digital banking services.

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