Grupo Cibest (NYSE:CIB) Sets New 52-Week High – Should You Buy?

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) shares reached a new 52-week high on Thursday . The company traded as high as $91.60 and last traded at $89.4410, with a volume of 374913 shares. The stock had previously closed at $89.07.

Analyst Ratings Changes

Several equities research analysts recently commented on CIB shares. Itau BBA Securities raised Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research note on Tuesday, May 26th. The Goldman Sachs Group raised shares of Grupo Cibest from a “neutral” rating to a “buy” rating and raised their price objective for the company from $81.00 to $98.00 in a research report on Tuesday. Zacks Research upgraded shares of Grupo Cibest from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. JPMorgan Chase & Co. boosted their target price on shares of Grupo Cibest from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Grupo Cibest in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $76.60.

Grupo Cibest Stock Performance

The company has a market cap of $21.22 billion, a P/E ratio of 24.84, a P/E/G ratio of 1.02 and a beta of 0.67. The firm has a 50 day moving average price of $78.43 and a 200-day moving average price of $74.72. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.98 and a current ratio of 0.98.

Grupo Cibest (NYSE:CIB) last issued its quarterly earnings data on Monday, May 4th. The bank reported $1.62 EPS 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 company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $2.04 billion. On average, research analysts predict that Grupo Cibest S.A. – Sponsored ADR will post 8.87 EPS for the current year.

Grupo Cibest Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Tuesday, June 30th were given a dividend of $1.304 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This is an increase from Grupo Cibest’s previous quarterly dividend of $1.22. This represents a $5.22 dividend on an annualized basis and a yield of 5.8%. Grupo Cibest’s dividend payout ratio (DPR) is currently 147.78%.

Hedge Funds Weigh In On Grupo Cibest

A number of institutional investors have recently modified their holdings of CIB. 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 worth $41,523,000 after buying an additional 405,098 shares during the last quarter. Millennium Management LLC raised its holdings in 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. Earnest Partners LLC raised its holdings in Grupo Cibest by 8.8% in the 4th quarter. Earnest Partners LLC now owns 2,697,747 shares of the bank’s stock worth $171,604,000 after acquiring an additional 218,359 shares during the period. New York State Common Retirement Fund acquired a new position in Grupo Cibest during the 4th quarter worth $12,761,000. Finally, Sei Investments Co. lifted its position in Grupo Cibest by 29.8% during the 2nd quarter. Sei Investments Co. now owns 863,718 shares of the bank’s stock worth $39,895,000 after acquiring an additional 198,228 shares during the last quarter.

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.