Bancolombia S.A. (CIB) to Issue Quarterly Dividend of $3.81 on April 11th

Bancolombia S.A. (NYSE:CIB) declared a quarterly dividend on Monday, March 17th, Wall Street Journal reports. Investors of record on Monday, March 31st will be paid a dividend of 3.8119 per share by the bank on Friday, April 11th. This represents a $15.25 dividend on an annualized basis and a yield of 35.50%. The ex-dividend date of this dividend is Monday, March 31st. This is a 373.9% increase from Bancolombia’s previous quarterly dividend of $0.80.

Bancolombia has increased its dividend by an average of 141.9% per year over the last three years. Bancolombia has a payout ratio of 50.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bancolombia to earn $6.28 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 51.0%.

Bancolombia Trading Down 0.3 %

CIB traded down $0.13 during trading on Wednesday, reaching $42.96. The company had a trading volume of 469,698 shares, compared to its average volume of 284,735. Bancolombia has a 12-month low of $30.25 and a 12-month high of $44.25. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.05. The company has a market cap of $10.33 billion, a price-to-earnings ratio of 6.82, a PEG ratio of 2.47 and a beta of 1.22. The firm’s 50-day simple moving average is $38.90 and its 200 day simple moving average is $34.56.

Bancolombia (NYSE:CIB) last issued its quarterly earnings results on Thursday, February 20th. The bank reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.22. Bancolombia had a return on equity of 14.61% and a net margin of 14.14%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.41 billion. Equities research analysts anticipate that Bancolombia will post 6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Morgan Stanley upgraded shares of Bancolombia from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $40.00 to $53.00 in a report on Tuesday, January 28th. The Goldman Sachs Group boosted their target price on shares of Bancolombia from $31.00 to $35.00 and gave the stock a “sell” rating in a research report on Monday, February 24th.

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.