Bancolombia (CIB) to Release Quarterly Earnings on Wednesday

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

Bancolombia Stock Performance

Shares of NYSE:CIB traded up $0.33 during trading on Tuesday, reaching $32.09. The company had a trading volume of 103,398 shares, compared to its average volume of 267,056. The company has a fifty day moving average of $32.07 and a two-hundred day moving average of $33.11. 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 12 month low of $26.35 and a 12 month high of $37.85.

Bancolombia Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.8456 dividend. The ex-dividend date was Friday, September 27th. This represents a $3.38 dividend on an annualized basis and a yield of 10.54%. Bancolombia’s dividend payout ratio is presently 52.28%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CIB. Bank of America cut Bancolombia from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $38.00 to $34.00 in a report on Thursday, August 29th. JPMorgan Chase & Co. lowered their price objective on shares of Bancolombia from $36.00 to $35.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Finally, The Goldman Sachs Group lowered shares of Bancolombia from a “neutral” rating to a “sell” rating and reduced their target price for the company from $34.00 to $32.00 in a report on Tuesday, August 20th.

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.