Bancolombia (NYSE:CIB) Posts Quarterly Earnings Results, Beats Estimates By $0.22 EPS

Bancolombia (NYSE:CIB) released its earnings results on Thursday. The bank reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.22, Zacks reports. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.41 billion. Bancolombia had a net margin of 13.46% and a return on equity of 14.75%.

Bancolombia Trading Down 1.5 %

Shares of NYSE:CIB opened at $42.80 on Friday. The business has a 50 day moving average of $35.50 and a 200-day moving average of $33.46. The stock has a market cap of $10.29 billion, a PE ratio of 6.78, a P/E/G ratio of 2.36 and a beta of 1.22. Bancolombia has a 12-month low of $30.25 and a 12-month high of $44.25. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.34.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley upgraded Bancolombia from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $40.00 to $53.00 in a research note on Tuesday, January 28th.

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.