Grupo Cibest (NYSE:CIB) Issues Quarterly Earnings Results

Grupo Cibest (NYSE:CIB) issued 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 net margin of 10.80% and a return on equity of 22.21%. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.40 billion.

Grupo Cibest Stock Up 7.1%

Shares of CIB stock opened at $97.98 on Wednesday. The stock’s fifty day moving average price is $82.42 and its 200 day moving average price is $75.81. Grupo Cibest has a 1-year low of $47.90 and a 1-year high of $100.74. The company has a market cap of $23.25 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 1.04 and a beta of 0.67. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Tuesday, June 30th were given a $1.304 dividend. This represents a $5.22 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Tuesday, June 30th. This is a positive change from Grupo Cibest’s previous quarterly dividend of $1.22. Grupo Cibest’s payout ratio is 147.78%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CIB shares. Royal Bank Of Canada set a $110.00 price objective on shares of Grupo Cibest in a report on Tuesday. UBS Group boosted their price target on Grupo Cibest from $52.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Bank of America upgraded Grupo Cibest from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $68.00 to $75.00 in a research note on Monday, June 1st. Itau BBA Securities upgraded shares of Grupo Cibest from a “strong sell” rating to a “market perform” rating in a report on Tuesday, May 26th. Finally, The Goldman Sachs Group raised shares of Grupo Cibest from a “neutral” rating to a “buy” rating and increased their price target for the company from $81.00 to $98.00 in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $88.83.

Institutional Investors Weigh In On Grupo Cibest

Several institutional investors have recently added to or reduced their stakes in the business. Earnest Partners LLC increased its holdings in shares of Grupo Cibest by 8.8% during the fourth quarter. Earnest Partners LLC now owns 2,697,747 shares of the bank’s stock valued at $171,604,000 after acquiring an additional 218,359 shares in the last quarter. Sei Investments Co. boosted its stake in Grupo Cibest by 29.8% in the 2nd quarter. Sei Investments Co. now owns 863,718 shares of the bank’s stock worth $39,895,000 after purchasing an additional 198,228 shares in the last quarter. Itau Unibanco Holding S.A. grew its position in Grupo Cibest by 164.5% during the 4th quarter. Itau Unibanco Holding S.A. now owns 651,368 shares of the bank’s stock worth $41,523,000 after purchasing an additional 405,098 shares during the last quarter. State Street Corp grew its position in Grupo Cibest by 1.6% during the 4th quarter. State Street Corp now owns 597,639 shares of the bank’s stock worth $38,016,000 after purchasing an additional 9,259 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Grupo Cibest by 4.6% during the 3rd quarter. Bank of America Corp DE now owns 478,464 shares of the bank’s stock valued at $24,851,000 after purchasing an additional 20,863 shares in the last quarter.

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.