Grupo Cibest (NYSE:CIB) Hits New 52-Week High – Should You Buy?

Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) shares reached a new 52-week high on Monday . The stock traded as high as $87.68 and last traded at $84.1350, with a volume of 164647 shares traded. The stock had previously closed at $81.45.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CIB shares. Bank of America upgraded Grupo Cibest from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $68.00 to $75.00 in a report on Monday, June 1st. Itau BBA Securities upgraded Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. lifted their price target on Grupo Cibest from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, May 18th. Weiss Ratings cut Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. Finally, The Goldman Sachs Group increased their price objective on Grupo Cibest from $69.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Eight investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Grupo Cibest presently has an average rating of “Reduce” and an average target price of $72.20.

Grupo Cibest Stock Performance

The company has a market cap of $20.10 billion, a PE ratio of 23.49, a PEG ratio of 1.24 and a beta of 0.70. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.98 and a current ratio of 0.98. The firm’s 50 day moving average is $71.40 and its 200-day moving average is $71.21.

Grupo Cibest (NYSE:CIB) last issued its earnings results on Monday, May 4th. The bank reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.22). The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $2.04 billion. Grupo Cibest had a return on equity of 21.07% and a net margin of 8.41%. On average, research analysts anticipate that Grupo Cibest S.A. – Sponsored ADR will post 8.65 earnings per share for the current fiscal year.

Grupo Cibest Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Tuesday, June 30th will be given a dividend of $1.304 per share. The ex-dividend date is Tuesday, June 30th. This is a positive change from Grupo Cibest’s previous quarterly dividend of $1.22. This represents a $5.22 dividend on an annualized basis and a yield of 6.2%. Grupo Cibest’s dividend payout ratio (DPR) is 136.11%.

Institutional Trading of Grupo Cibest

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC raised its holdings in shares of 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 acquiring an additional 266,341 shares during the period. Goldman Sachs Group Inc. increased its position in Grupo Cibest by 62.3% during the first quarter. Goldman Sachs Group Inc. now owns 142,018 shares of the bank’s stock worth $5,709,000 after purchasing an additional 54,497 shares during the last quarter. Marshall Wace LLP increased its position in Grupo Cibest by 288.4% during the second quarter. Marshall Wace LLP now owns 40,269 shares of the bank’s stock worth $1,860,000 after purchasing an additional 29,902 shares during the last quarter. Cerity Partners LLC purchased a new position in Grupo Cibest during the second quarter worth about $349,000. Finally, Qube Research & Technologies Ltd raised its stake in Grupo Cibest by 158.7% during the second quarter. Qube Research & Technologies Ltd now owns 254,287 shares of the bank’s stock worth $11,746,000 after purchasing an additional 155,985 shares during the period.

Grupo Cibest Company 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.