Lesa Sroufe & Co Takes Position in Grupo Cibest S.A. – Sponsored ADR $CIB

Lesa Sroufe & Co bought a new position in shares of Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) during the first quarter, Holdings Channel.com reports. The fund bought 66,628 shares of the bank’s stock, valued at approximately $4,851,000. Grupo Cibest accounts for 3.3% of Lesa Sroufe & Co’s investment portfolio, making the stock its 9th largest holding.

A number of other large investors also recently modified their holdings of CIB. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Grupo Cibest during the 3rd quarter valued at $44,920,000. Itau Unibanco Holding S.A. lifted its stake in shares of Grupo Cibest by 164.5% in the fourth quarter. Itau Unibanco Holding S.A. now owns 651,368 shares of the bank’s stock valued at $41,523,000 after buying an additional 405,098 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Grupo Cibest by 527.0% in the first quarter. Millennium Management LLC now owns 316,877 shares of the bank’s stock valued at $12,738,000 after buying an additional 266,341 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of Grupo Cibest by 8.8% during the fourth quarter. Earnest Partners LLC now owns 2,697,747 shares of the bank’s stock valued at $171,604,000 after buying an additional 218,359 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new position in shares of Grupo Cibest during the fourth quarter valued at about $12,761,000.

Analysts Set New Price Targets

CIB has been the subject of several recent research reports. Weiss Ratings downgraded shares of Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. Bank of America raised shares of Grupo Cibest from an “underperform” rating to a “neutral” rating and raised their price target for the company from $68.00 to $75.00 in a research report on Monday, June 1st. JPMorgan Chase & Co. lifted their price target on Grupo Cibest from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. Itau BBA Securities raised Grupo Cibest from a “strong sell” rating to a “market perform” rating in a report on Tuesday, May 26th. Finally, UBS Group increased their price objective on Grupo Cibest from $52.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Eight equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Grupo Cibest presently has an average rating of “Reduce” and a consensus price target of $72.20.

Grupo Cibest Price Performance

CIB opened at $79.10 on Friday. Grupo Cibest S.A. – Sponsored ADR has a 1 year low of $43.20 and a 1 year high of $87.68. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $18.77 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 0.90 and a beta of 0.67. The firm’s fifty day moving average price is $72.33 and its two-hundred day moving average price is $72.27.

Grupo Cibest (NYSE:CIB) last released its quarterly earnings results on Monday, May 4th. The bank reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.22). Grupo Cibest had a net margin of 8.41% and a return on equity of 21.07%. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $2.04 billion. As a group, analysts anticipate that Grupo Cibest S.A. – Sponsored ADR will post 8.87 earnings per share for the current fiscal year.

Grupo Cibest Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Tuesday, June 30th will be paid a $1.304 dividend. This is a positive change from Grupo Cibest’s previous quarterly dividend of $1.22. The ex-dividend date is Tuesday, June 30th. This represents a $5.22 annualized dividend and a yield of 6.6%. Grupo Cibest’s dividend payout ratio (DPR) is 145.00%.

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.