Grupo Cibest (NYSE:CIB) Hits New 12-Month High – Here’s Why

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIBGet Free Report) shares hit a new 52-week high on Friday . The stock traded as high as $105.60 and last traded at $102.5810, with a volume of 15708 shares trading hands. The stock had previously closed at $103.12.

Wall Street Analysts Forecast Growth

CIB has been the subject of a number of recent analyst reports. Bank of America raised shares of Grupo Cibest from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $68.00 to $75.00 in a research note on Monday, June 1st. Royal Bank Of Canada set a $110.00 price objective on shares of Grupo Cibest in a research report on Tuesday, August 11th. JPMorgan Chase & Co. raised shares of Grupo Cibest from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $70.00 to $110.00 in a research note on Tuesday, August 11th. The Goldman Sachs Group boosted their target price on Grupo Cibest from $98.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, Itau BBA Securities raised Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Grupo Cibest presently has an average rating of “Hold” and a consensus target price of $90.83.

Read Our Latest Analysis on CIB

Grupo Cibest Price Performance

The stock has a market capitalization of $24.27 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 0.76 and a beta of 0.65. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average price is $91.66 and its 200-day moving average price is $78.77.

Grupo Cibest (NYSE:CIBGet Free Report) last posted its quarterly earnings results on Monday, August 10th. The bank reported $3.32 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $1.18. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Grupo Cibest had a net margin of 10.80% and a return on equity of 20.87%. As a group, equities analysts forecast that Grupo Cibest S.A. – Sponsored ADR will post 10.87 EPS for the current year.

Grupo Cibest Announces Dividend

The business also recently announced a special dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 8th will be paid a $1.6324 dividend. The ex-dividend date is Tuesday, September 8th. Grupo Cibest’s dividend payout ratio is currently 103.70%.

Hedge Funds Weigh In On Grupo Cibest

A number of institutional investors have recently modified their holdings of the stock. Arax Advisory Partners grew its stake in Grupo Cibest by 2,525.0% in the fourth quarter. Arax Advisory Partners now owns 525 shares of the bank’s stock worth $33,000 after purchasing an additional 505 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Grupo Cibest by 105.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 546 shares of the bank’s stock valued at $35,000 after purchasing an additional 280 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in Grupo Cibest by 89.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 753 shares of the bank’s stock valued at $48,000 after purchasing an additional 355 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Grupo Cibest by 796.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 977 shares of the bank’s stock valued at $45,000 after purchasing an additional 868 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Grupo Cibest in the 2nd quarter worth $79,000.

About Grupo Cibest

(Get Free Report)

Grupo Cibest SA is a Colombian financial holding company formerly known as Bancolombia SA Through its subsidiaries, the group provides banking, payments, investment, insurance and other financial services to individuals, businesses and institutional customers.

Its principal banking operations are conducted through Bancolombia, which offers checking and savings accounts, consumer and commercial lending, mortgages, credit and debit cards, cash management, investment products and digital banking services.

Further Reading

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