Grupo Cibest (NYSE:CIB) Issues Quarterly Earnings Results, Beats Estimates By $1.18 EPS

Grupo Cibest (NYSE:CIBGet Free Report) posted its earnings results on Monday. The bank reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $1.18, Zacks reports. Grupo Cibest had a return on equity of 21.07% and a net margin of 8.41%.

Grupo Cibest Price Performance

Grupo Cibest stock opened at $91.63 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.20. Grupo Cibest has a 52-week low of $46.93 and a 52-week high of $94.21. The firm has a market cap of $21.74 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 1.01 and a beta of 0.67. The company’s 50 day moving average is $81.93 and its two-hundred day moving average is $75.68.

Grupo Cibest Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Tuesday, June 30th were issued a dividend of $1.304 per share. This is a boost from Grupo Cibest’s previous quarterly dividend of $1.22. The ex-dividend date was Tuesday, June 30th. This represents a $5.22 dividend on an annualized basis and a yield of 5.7%. Grupo Cibest’s dividend payout ratio (DPR) is currently 147.78%.

Institutional Trading of Grupo Cibest

A number of large investors have recently modified their holdings of the stock. Itau Unibanco Holding S.A. raised 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 acquiring an additional 405,098 shares in the last quarter. Millennium Management LLC grew its stake in Grupo Cibest by 527.0% during the 1st quarter. Millennium Management LLC now owns 316,877 shares of the bank’s stock worth $12,738,000 after purchasing an additional 266,341 shares in the last quarter. Earnest Partners LLC increased its holdings in Grupo Cibest by 8.8% during the 4th quarter. Earnest Partners LLC now owns 2,697,747 shares of the bank’s stock worth $171,604,000 after purchasing an additional 218,359 shares during the period. New York State Common Retirement Fund purchased a new stake in Grupo Cibest during the 4th quarter worth about $12,761,000. Finally, Sei Investments Co. raised its position in Grupo Cibest by 29.8% in the 2nd quarter. Sei Investments Co. now owns 863,718 shares of the bank’s stock valued at $39,895,000 after purchasing an additional 198,228 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Zacks Research upgraded Grupo Cibest from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. The Goldman Sachs Group upgraded shares of Grupo Cibest from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $81.00 to $98.00 in a report on Tuesday, July 28th. Itau BBA Securities raised shares of Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research report on Tuesday, May 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Grupo Cibest in a research note on Tuesday, July 21st. Finally, UBS Group lifted their price target on shares of Grupo Cibest from $52.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $82.17.

Get Our Latest Stock Report on CIB

About Grupo Cibest

(Get Free Report)

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.

Further Reading

Earnings History for Grupo Cibest (NYSE:CIB)

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