Grupo Cibest S.A. – Sponsored ADR $CIB Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in shares of Grupo Cibest S.A. – Sponsored ADR (NYSE:CIB) by 3.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 363,061 shares of the bank’s stock after selling 11,699 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.15% of Grupo Cibest worth $26,464,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CIB. Vanguard Group Inc. increased its holdings in shares of Grupo Cibest by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 3,089,670 shares of the bank’s stock valued at $196,534,000 after purchasing an additional 67,986 shares during the period. Earnest Partners LLC lifted 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 worth $171,604,000 after purchasing an additional 218,359 shares during the period. Sei Investments Co. grew its position in Grupo Cibest by 29.8% in the 2nd quarter. Sei Investments Co. now owns 863,718 shares of the bank’s stock valued at $39,895,000 after buying an additional 198,228 shares during the last quarter. Itau Unibanco Holding S.A. grew its position in Grupo Cibest by 164.5% in the 4th quarter. Itau Unibanco Holding S.A. now owns 651,368 shares of the bank’s stock valued at $41,523,000 after buying an additional 405,098 shares during the last quarter. Finally, State Street Corp increased its stake in Grupo Cibest by 1.6% in the 4th quarter. State Street Corp now owns 597,639 shares of the bank’s stock valued at $38,016,000 after buying an additional 9,259 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. The Goldman Sachs Group upped their price objective on shares of Grupo Cibest from $71.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Weiss Ratings lowered shares of Grupo Cibest from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, April 24th. 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. Itau BBA Securities upgraded shares of Grupo Cibest from a “strong sell” rating to a “market perform” rating in a research report on Tuesday, May 26th. Finally, UBS Group lifted their price objective on Grupo Cibest from $52.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. Eight analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $73.20.

Grupo Cibest Price Performance

Shares of NYSE CIB opened at $80.89 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.98 and a current ratio of 0.98. Grupo Cibest S.A. – Sponsored ADR has a one year low of $43.20 and a one year high of $87.68. The firm has a market capitalization of $19.20 billion, a P/E ratio of 22.47, a PEG ratio of 0.92 and a beta of 0.67. The company’s fifty day moving average is $75.25 and its two-hundred day moving average is $73.69.

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

Grupo Cibest Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Tuesday, June 30th were issued a $1.304 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $5.22 dividend on an annualized basis and a dividend yield of 6.4%. This is an increase from Grupo Cibest’s previous quarterly dividend of $1.22. Grupo Cibest’s payout ratio is currently 147.78%.

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.