Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB – Get Free Report) declared a quarterly dividend on Tuesday, June 16th. Stockholders of record on Tuesday, June 30th will be given a dividend of 1.304 per share by the bank on Monday, July 13th. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a 7.0% increase from Grupo Cibest’s previous quarterly dividend of $1.22.
Grupo Cibest has raised its dividend by an average of 0.2%annually over the last three years. Grupo Cibest has a payout ratio of 75.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Grupo Cibest to earn $9.14 per share next year, which means the company should continue to be able to cover its $4.89 annual dividend with an expected future payout ratio of 53.5%.
Grupo Cibest Stock Up 2.0%
Shares of NYSE:CIB traded up $1.55 on Wednesday, reaching $80.80. The company had a trading volume of 179,027 shares, compared to its average volume of 433,734. The firm has a market capitalization of $19.17 billion, a PE ratio of 22.44, a PEG ratio of 1.22 and a beta of 0.70. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.20. The firm’s 50 day simple moving average is $70.97 and its 200-day simple moving average is $70.82. Grupo Cibest has a 52-week low of $42.08 and a 52-week high of $86.31.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its stake in Grupo Cibest by 9.1% during the first quarter. Bank of America Corp DE now owns 516,834 shares of the bank’s stock worth $37,631,000 after purchasing an additional 43,126 shares during the period. Strategic Investment Advisors MI acquired a new position in shares of Grupo Cibest during the 1st quarter worth about $134,000. Amundi increased its stake in Grupo Cibest by 26.7% in the first quarter. Amundi now owns 495,535 shares of the bank’s stock valued at $36,080,000 after purchasing an additional 104,280 shares during the last quarter. Royal Bank of Canada raised its stake in Grupo Cibest by 25.4% during the 1st quarter. Royal Bank of Canada now owns 19,893 shares of the bank’s stock worth $1,449,000 after acquiring an additional 4,034 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Grupo Cibest by 7.5% in the 1st quarter. Quantinno Capital Management LP now owns 39,989 shares of the bank’s stock valued at $2,912,000 after purchasing an additional 2,777 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.
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