Bancolombia (CIB) Scheduled to Post Earnings on Wednesday

Bancolombia (NYSE:CIB) will be announcing its 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 released its earnings results on Thursday, August 8th. The bank reported $1.44 EPS for the quarter, beating the consensus estimate of $1.43 by $0.01. Bancolombia had a return on equity of 15.68% and a net margin of 13.73%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.82 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

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

Bancolombia Cuts Dividend

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

Analyst Ratings Changes

Several research analysts recently commented on CIB shares. JPMorgan Chase & Co. reduced their price target 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 downgraded shares of 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 report on Tuesday, August 20th. Finally, Bank of America cut shares of Bancolombia from a “neutral” rating to an “underperform” rating and cut their price target for the company from $38.00 to $34.00 in a research note 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.