Triasima Portfolio Management inc. Acquires 18,050 Shares of Grupo Cibest S.A. – Sponsored ADR $CIB

Triasima Portfolio Management inc. increased its holdings in shares of Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) by 14.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 141,201 shares of the bank’s stock after acquiring an additional 18,050 shares during the period. Grupo Cibest comprises about 1.7% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 15th biggest position. Triasima Portfolio Management inc. owned 0.06% of Grupo Cibest worth $13,111,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Amundi raised its position in Grupo Cibest by 26.7% in the first quarter. Amundi now owns 495,535 shares of the bank’s stock worth $36,080,000 after purchasing an additional 104,280 shares in the last quarter. Assetmark Inc. lifted its stake in Grupo Cibest by 46,580.9% during the first quarter. Assetmark Inc. now owns 95,229 shares of the bank’s stock worth $6,934,000 after purchasing an additional 95,025 shares during the period. Nykredit A S acquired a new stake in Grupo Cibest during the second quarter valued at approximately $5,589,000. Lesa Sroufe & Co acquired a new stake in Grupo Cibest during the first quarter valued at approximately $4,851,000. Finally, ABN Amro Investment Solutions boosted its holdings in Grupo Cibest by 36.3% during the first quarter. ABN Amro Investment Solutions now owns 249,345 shares of the bank’s stock valued at $18,155,000 after purchasing an additional 66,400 shares in the last quarter.

Grupo Cibest Stock Up 0.9%

CIB opened at $97.81 on Friday. The firm has a market cap of $23.21 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 0.74 and a beta of 0.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s 50-day simple moving average is $97.17 and its 200-day simple moving average is $83.46. Grupo Cibest S.A. – Sponsored ADR has a twelve month low of $53.34 and a twelve month high of $105.60.

Grupo Cibest (NYSE:CIB) last announced its quarterly earnings results on Monday, August 10th. The bank reported $3.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $1.18. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.40 billion. Grupo Cibest had a net margin of 10.80% and a return on equity of 20.87%. Equities research analysts anticipate that Grupo Cibest S.A. – Sponsored ADR will post 10.87 EPS for the current fiscal year.

Grupo Cibest Announces Dividend

The company also recently disclosed a special dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 8th were paid a dividend of $1.6324 per share. The ex-dividend date of this dividend was Tuesday, September 8th. Grupo Cibest’s dividend payout ratio is currently 106.24%.

Analyst Ratings Changes

CIB has been the subject of a number of recent research reports. Zacks Research cut Grupo Cibest from a “strong-buy” rating to a “hold” rating in a report on Monday. Weiss Ratings upgraded Grupo Cibest from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Citigroup upgraded Grupo Cibest from a “hold” rating to a “buy” rating in a research report on Thursday, August 13th. The Goldman Sachs Group boosted their price target on Grupo Cibest from $98.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $110.00 price target on shares of Grupo Cibest in a research report on Wednesday, September 16th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $90.83.

About Grupo Cibest

Grupo Cibest SA is a Colombia-based financial services holding company formerly known as Bancolombia SA The company operates through a diversified financial-services platform focused on serving individuals, businesses, corporations and institutional clients.

Its businesses include commercial and consumer banking, savings and checking accounts, lending, credit cards, payments, leasing, investment banking, brokerage, fiduciary services, asset management and insurance. Through its subsidiaries and digital channels, Grupo Cibest provides financial products and services to retail customers, small and midsize businesses, and large corporations.

The company has its principal operations in Colombia and a broader presence in Central America, including Panama, Guatemala and El Salvador.