Bancolombia (CIB) to Release Earnings on Wednesday

Bancolombia (NYSE:CIB) will be posting 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 issued its quarterly 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 business had revenue of $1.77 billion for 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 %

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

Bancolombia Cuts Dividend

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on Bancolombia from $36.00 to $35.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. The Goldman Sachs Group lowered Bancolombia from a “neutral” rating to a “sell” rating and lowered their target price for the stock 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 lowered their target price for the stock from $38.00 to $34.00 in a research report on Thursday, August 29th.

About Bancolombia

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.