Bancolombia S.A. Declares Quarterly Dividend of $0.85 (NYSE:CIB)

Bancolombia S.A. (NYSE:CIB) announced a quarterly dividend on Monday, September 16th, Wall Street Journal reports. Shareholders of record on Friday, September 27th will be paid a dividend of 0.8456 per share by the bank on Friday, October 11th. This represents a $3.38 annualized dividend and a yield of 10.71%. The ex-dividend date is Friday, September 27th.

Bancolombia has increased its dividend payment by an average of 41.0% per year over the last three years. Bancolombia has a dividend payout ratio of 58.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bancolombia to earn $6.08 per share next year, which means the company should continue to be able to cover its $3.59 annual dividend with an expected future payout ratio of 59.0%.

Bancolombia Trading Down 0.6 %

Shares of CIB opened at $31.57 on Wednesday. Bancolombia has a 52-week low of $24.15 and a 52-week high of $37.85. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.40. The firm’s fifty day moving average is $32.85 and its two-hundred day moving average is $33.63. The stock has a market cap of $7.59 billion, a PE ratio of 4.96, a price-to-earnings-growth ratio of 3.16 and a beta of 1.23.

Bancolombia (NYSE:CIB) last announced its earnings results on Thursday, August 8th. The bank reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.01. Bancolombia had a net margin of 13.73% and a return on equity of 15.68%. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Research analysts forecast that Bancolombia will post 5.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CIB has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of Bancolombia from $36.00 to $35.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Bank of America lowered Bancolombia from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $38.00 to $34.00 in a report on Thursday, August 29th. Finally, The Goldman Sachs Group lowered Bancolombia from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $34.00 to $32.00 in a report on Tuesday, August 20th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat, Bancolombia presently has a consensus rating of “Reduce” and a consensus price target of $32.40.

Bancolombia Company Profile

Bancolombia SA, together with its subsidiaries, provides banking products and services in Colombia and internationally. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.