Bancolombia (CIB) to Release Earnings on Thursday

Bancolombia (NYSE:CIB) will be releasing its earnings data after the market closes on Thursday, May 9th. Analysts expect Bancolombia to post earnings of $1.47 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Bancolombia (NYSE:CIB) last posted its quarterly earnings results on Tuesday, February 20th. The bank reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.26. Bancolombia had a net margin of 13.51% and a return on equity of 18.46%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.68 billion. On average, analysts expect Bancolombia to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Bancolombia Price Performance

CIB stock traded down $0.01 during trading on Tuesday, hitting $34.26. 58,279 shares of the company’s stock traded hands, compared to its average volume of 288,751. The business has a fifty day simple moving average of $33.70 and a two-hundred day simple moving average of $31.04. Bancolombia has a 1 year low of $23.12 and a 1 year high of $37.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.05 and a current ratio of 1.05.

Bancolombia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were paid a $0.8118 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $3.25 annualized dividend and a dividend yield of 9.48%. Bancolombia’s dividend payout ratio is presently 59.34%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. HSBC lowered shares of Bancolombia from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Bank of America initiated coverage on Bancolombia in a research note on Thursday, May 2nd. They issued a “neutral” rating and a $38.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of Bancolombia from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, Bancolombia has an average rating of “Hold” and a consensus target price of $33.12.

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.