Ethic Inc. Decreases Holdings in Grupo Cibest S.A. – Sponsored ADR $CIB

Ethic Inc. cut its holdings in shares of Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) by 12.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,941 shares of the bank’s stock after selling 10,822 shares during the quarter. Ethic Inc.’s holdings in Grupo Cibest were worth $3,289,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. SVB Wealth LLC purchased a new stake in shares of Grupo Cibest during the 1st quarter valued at $45,000. Aberdeen Group plc purchased a new stake in shares of Grupo Cibest during the 1st quarter valued at $201,000. Malaga Cove Capital LLC purchased a new stake in shares of Grupo Cibest during the 1st quarter valued at $209,000. Aigen Investment Management LP purchased a new stake in shares of Grupo Cibest during the 1st quarter valued at $241,000. Finally, JBF Capital Inc. purchased a new stake in shares of Grupo Cibest during the 1st quarter valued at $241,000.

Grupo Cibest Trading Up 0.4%

Shares of CIB opened at $56.06 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $13.48 billion, a P/E ratio of 8.51, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94. Grupo Cibest S.A. – Sponsored ADR has a fifty-two week low of $30.68 and a fifty-two week high of $57.40. The business has a 50-day moving average of $52.24 and a 200 day moving average of $46.19.

Grupo Cibest (NYSE:CIB) last posted its earnings results on Thursday, August 7th. The bank reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.13. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.75 billion. Grupo Cibest had a return on equity of 19.77% and a net margin of 15.30%. As a group, research analysts forecast that Grupo Cibest S.A. – Sponsored ADR will post 6 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CIB. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Grupo Cibest in a research report on Tuesday, October 14th. Zacks Research raised Grupo Cibest from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 24th. Bank of America reissued an “underperform” rating on shares of Grupo Cibest in a report on Thursday, September 11th. Finally, Citigroup reissued a “buy” rating on shares of Grupo Cibest in a report on Monday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $43.75.

About Grupo Cibest

Bancolombia SA, together with its subsidiaries, provides banking products and services in Colombia and internationally. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.