Bancolombia S.A. (NYSE:CIB) Announces Dividend of $0.57

Bancolombia S.A. (NYSE:CIB) declared a dividend on Friday, April 18th, investing.com reports. Stockholders of record on Tuesday, April 29th will be given a dividend of 0.5745 per share by the bank on Friday, May 9th. This represents a dividend yield of 17.13%. The ex-dividend date of this dividend is Monday, April 28th. This is a 94.1% increase from Bancolombia’s previous dividend of $0.30.

Bancolombia has increased its dividend payment by an average of 141.9% annually over the last three years. Bancolombia has a dividend payout ratio of 233.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Bancolombia to earn $6.28 per share next year, which means the company may not be able to cover its $14.85 annual dividend with an expected future payout ratio of 236.5%.

Bancolombia Stock Down 0.3 %

NYSE CIB opened at $39.54 on Friday. Bancolombia has a twelve month low of $30.25 and a twelve month high of $44.93. The stock has a market cap of $9.51 billion, a PE ratio of 6.28, a PEG ratio of 2.47 and a beta of 0.85. The firm has a 50-day simple moving average of $41.16 and a 200 day simple moving average of $35.89. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.05.

Bancolombia (NYSE:CIB) last announced its quarterly earnings data on Thursday, February 20th. The bank reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.22. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.41 billion. Bancolombia had a return on equity of 14.61% and a net margin of 14.14%. On average, research analysts forecast that Bancolombia will post 6 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CIB shares. The Goldman Sachs Group lifted their target price on shares of Bancolombia from $31.00 to $35.00 and gave the company a “sell” rating in a research report on Monday, February 24th. Morgan Stanley raised Bancolombia from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $53.00 in a report on Tuesday, January 28th.

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.