Bancolombia SA (NYSE:CIB) declared a quarterly dividend on Thursday, June 13th, Wall Street Journal reports. Investors of record on Thursday, June 27th will be paid a dividend of 0.3339 per share by the bank on Friday, July 12th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Wednesday, June 26th.
Bancolombia has decreased its dividend payment by an average of 4.3% annually over the last three years and has increased its dividend every year for the last 2 years. Bancolombia has a dividend payout ratio of 35.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Bancolombia to earn $4.90 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 26.1%.
Shares of CIB stock opened at $49.20 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $11.81 billion, a P/E ratio of 14.14 and a beta of 0.70. Bancolombia has a fifty-two week low of $35.52 and a fifty-two week high of $55.40.
Bancolombia (NYSE:CIB) last announced its quarterly earnings data on Thursday, May 9th. The bank reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.11. The firm had revenue of $1.09 billion during the quarter. Bancolombia had a net margin of 15.03% and a return on equity of 11.81%. As a group, research analysts predict that Bancolombia will post 4.07 EPS for the current year.
Several research firms have commented on CIB. Zacks Investment Research cut shares of Bancolombia from a “buy” rating to a “hold” rating in a report on Monday, May 13th. ValuEngine cut shares of Bancolombia from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Credit Suisse Group cut shares of Bancolombia from a “neutral” rating to an “underperform” rating in a report on Tuesday, April 30th. Citigroup upgraded shares of Bancolombia from a “neutral” rating to a “buy” rating in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. upgraded shares of Bancolombia from an “underweight” rating to a “neutral” rating in a report on Monday, February 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $54.00.
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Bancolombia Company Profile
Bancolombia SA provides various banking products and services to individual, corporate, and government customers in Colombia, Latin America, and the Caribbean region. The company operates in nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, Off Shore, and All Other.
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