Patriot Financial Group Insurance Agency LLC Purchases 8,343 Shares of Grupo Cibest S.A. – Sponsored ADR $CIB

Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) by 101.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,572 shares of the bank’s stock after buying an additional 8,343 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Grupo Cibest were worth $1,207,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in Grupo Cibest in the 1st quarter worth about $131,000. E. Ohman J or Asset Management AB boosted its position in shares of Grupo Cibest by 17.1% during the 1st quarter. E. Ohman J or Asset Management AB now owns 13,000 shares of the bank’s stock valued at $947,000 after acquiring an additional 1,900 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Grupo Cibest by 688.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,140 shares of the bank’s stock valued at $200,000 after acquiring an additional 2,742 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Grupo Cibest during the fourth quarter worth about $439,000. Finally, Invesco Ltd. grew its holdings in shares of Grupo Cibest by 40.5% during the fourth quarter. Invesco Ltd. now owns 61,098 shares of the bank’s stock worth $3,886,000 after purchasing an additional 17,604 shares in the last quarter.

Grupo Cibest Stock Performance

NYSE:CIB opened at $79.85 on Tuesday. The company has a market capitalization of $18.95 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 0.91 and a beta of 0.70. The business has a 50 day moving average of $71.92 and a 200 day moving average of $71.91. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.98 and a quick ratio of 0.98. Grupo Cibest S.A. – Sponsored ADR has a 1-year low of $43.20 and a 1-year high of $87.68.

Grupo Cibest (NYSE:CIB) last issued its quarterly earnings results on Monday, May 4th. The bank reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.22). The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $2.04 billion. Grupo Cibest had a net margin of 8.41% and a return on equity of 21.07%. On average, sell-side analysts predict that Grupo Cibest S.A. – Sponsored ADR will post 8.87 earnings per share for the current fiscal year.

Grupo Cibest Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Tuesday, June 30th will be issued a dividend of $1.304 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $5.22 annualized dividend and a dividend yield of 6.5%. This is an increase from Grupo Cibest’s previous quarterly dividend of $1.22. Grupo Cibest’s payout ratio is 136.11%.

Wall Street Analysts Forecast Growth

CIB has been the topic of a number of recent analyst reports. Itau BBA Securities raised shares of Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. increased their price target on shares of Grupo Cibest from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. Bank of America upgraded shares of Grupo Cibest from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $68.00 to $75.00 in a research report on Monday, June 1st. Weiss Ratings downgraded shares of Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, April 24th. Finally, UBS Group upped their target price on shares of Grupo Cibest from $52.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Eight analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Grupo Cibest presently has a consensus rating of “Reduce” and an average price target of $72.20.

Grupo Cibest Profile

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.