Bancolombia S.A. (NYSE:CIB) Announces $0.83 Quarterly Dividend

Bancolombia S.A. (NYSE:CIBGet Rating) announced a quarterly dividend on Wednesday, June 8th, Zacks reports. Investors of record on Wednesday, June 29th will be given a dividend of 0.825 per share by the bank on Monday, July 11th. This represents a $3.30 annualized dividend and a yield of 8.04%. The ex-dividend date is Tuesday, June 28th.

Bancolombia has a payout ratio of 53.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bancolombia to earn $6.26 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 47.9%.

Bancolombia stock opened at $41.07 on Friday. The firm has a 50 day moving average price of $40.58 and a 200 day moving average price of $36.83. The company has a market capitalization of $9.88 billion, a PE ratio of 7.17, a price-to-earnings-growth ratio of 0.43 and a beta of 1.23. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.04. Bancolombia has a fifty-two week low of $27.64 and a fifty-two week high of $45.98.

Bancolombia (NYSE:CIBGet Rating) last posted its quarterly earnings results on Wednesday, May 11th. The bank reported $1.92 EPS for the quarter, topping the consensus estimate of $1.17 by $0.75. The business had revenue of $1.35 billion during the quarter. Bancolombia had a net margin of 22.87% and a return on equity of 14.28%. As a group, equities research analysts forecast that Bancolombia will post 5.98 earnings per share for the current year.

CIB has been the subject of several research reports. Itau BBA Securities upgraded shares of Bancolombia from a “market perform” rating to an “outperform” rating and set a $47.00 price target for the company in a research note on Wednesday, March 23rd. Citigroup raised Bancolombia from a “neutral” rating to a “buy” rating in a report on Tuesday, May 3rd. Itaú Unibanco upgraded Bancolombia from a “market perform” rating to an “outperform” rating and set a $47.00 price target on the stock in a research note on Wednesday, March 23rd. Bank of America upgraded Bancolombia from an “underperform” rating to a “buy” rating in a research note on Wednesday, February 23rd. Finally, The Goldman Sachs Group upgraded Bancolombia from a “sell” rating to a “buy” rating and raised their price target for the company from $27.00 to $45.00 in a research note on Thursday, March 3rd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Bancolombia currently has a consensus rating of “Buy” and a consensus target price of $43.67.

Institutional investors and hedge funds have recently bought and sold shares of the company. Marshall Wace LLP purchased a new position in shares of Bancolombia during the fourth quarter worth about $33,000. PNC Financial Services Group Inc. grew its holdings in shares of Bancolombia by 13.7% during the first quarter. PNC Financial Services Group Inc. now owns 2,719 shares of the bank’s stock worth $117,000 after buying an additional 327 shares during the last quarter. Geode Capital Management LLC purchased a new position in shares of Bancolombia during the third quarter worth about $202,000. Advisor Group Holdings Inc. boosted its holdings in Bancolombia by 12.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 5,173 shares of the bank’s stock valued at $221,000 after purchasing an additional 553 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Bancolombia in the 1st quarter valued at approximately $311,000. Institutional investors and hedge funds own 3.72% of the company’s stock.

About Bancolombia (Get Rating)

Bancolombia SA provides banking products and services in Colombia, Panama, Puerto Rico, El Salvador, Costa Rica, and Guatemala. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.

See Also

Dividend History for Bancolombia (NYSE:CIB)

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