Bancolombia (CIB) to Release Earnings on Wednesday

Bancolombia (NYSE:CIB) will post its quarterly earnings results after the market closes on Wednesday, November 6th. Analysts expect Bancolombia to post earnings of $1.45 per share for the quarter.

Bancolombia (NYSE:CIB) last released its quarterly earnings results on Thursday, August 8th. The bank reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.01. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.82 billion. Bancolombia had a return on equity of 15.68% and a net margin of 13.73%. On average, analysts expect Bancolombia to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Bancolombia Trading Up 1.4 %

CIB stock traded up $0.46 during mid-day trading on Tuesday, reaching $32.22. 142,263 shares of the company traded hands, compared to its average volume of 267,238. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.03 and a quick ratio of 1.03. Bancolombia has a fifty-two week low of $26.35 and a fifty-two week high of $37.85. The firm’s 50 day moving average price is $32.07 and its 200 day moving average price is $33.11.

Bancolombia Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a dividend of $0.8456 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.38 dividend on an annualized basis and a yield of 10.50%. Bancolombia’s dividend payout ratio (DPR) is currently 52.28%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Bank of America cut shares of Bancolombia from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $38.00 to $34.00 in a research report on Thursday, August 29th. The Goldman Sachs Group cut shares of Bancolombia from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $34.00 to $32.00 in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Bancolombia from $36.00 to $35.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th.

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.