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

Bancolombia S.A. (NYSE:CIB) announced a quarterly dividend on Tuesday, September 17th, Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 10.71%. The ex-dividend date is Friday, September 27th.

Bancolombia has raised its dividend 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 Bancolombia stock traded down $0.19 on Tuesday, reaching $31.58. 205,661 shares of the company were exchanged, compared to its average volume of 267,243. The stock has a fifty day moving average price of $32.89 and a 200-day moving average price of $33.63. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 5.00, a price-to-earnings-growth ratio of 3.16 and a beta of 1.23. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.40. Bancolombia has a fifty-two week low of $24.15 and a fifty-two week high of $37.85.

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 analysts’ consensus estimates of $1.43 by $0.01. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.82 billion. Bancolombia had a return on equity of 15.68% and a net margin of 13.73%. On average, analysts expect that Bancolombia will post 5.99 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on CIB shares. JPMorgan Chase & Co. dropped their price target on Bancolombia from $36.00 to $35.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. The Goldman Sachs Group lowered Bancolombia from a “neutral” rating to a “sell” rating and dropped their price target for the company from $34.00 to $32.00 in a research report on Tuesday, August 20th. Finally, Bank of America lowered Bancolombia from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $38.00 to $34.00 in a research report on Thursday, August 29th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price 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.