Bancolombia SA (NYSE:CIB) Plans Quarterly Dividend of $0.34

Bancolombia SA (NYSE:CIB) declared a quarterly dividend on Friday, March 29th, Wall Street Journal reports. Stockholders of record on Monday, April 8th will be given a dividend of 0.3423 per share by the bank on Friday, April 12th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, April 5th. This is an increase from Bancolombia’s previous quarterly dividend of $0.32.

Bancolombia has decreased its dividend payment by an average of 4.3% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Bancolombia has a dividend payout ratio of 35.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bancolombia to earn $5.04 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 25.4%.

Shares of Bancolombia stock opened at $53.08 on Friday. Bancolombia has a 1 year low of $35.52 and a 1 year high of $55.40. The company has a market cap of $12.76 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 0.93 and a beta of 0.67. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.12.

Bancolombia (NYSE:CIB) last announced its earnings results on Thursday, February 21st. The bank reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.36. Bancolombia had a net margin of 13.80% and a return on equity of 8.93%. The business had revenue of $1.28 billion during the quarter. Equities research analysts predict that Bancolombia will post 4.4 earnings per share for the current fiscal year.

Several brokerages have issued reports on CIB. ValuEngine lowered shares of Bancolombia from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Zacks Investment Research raised shares of Bancolombia from a “strong sell” rating to a “hold” rating in a research note on Friday, March 1st. Citigroup raised shares of Bancolombia from a “neutral” rating to a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. raised shares of Bancolombia from an “underweight” rating to a “neutral” rating in a research note on Monday, February 25th. Finally, Bank of America raised shares of Bancolombia from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $51.00.

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About Bancolombia

Bancolombia SA provides various banking products and services to individual, corporate, and government customers in Colombia, Latin America, and the Caribbean region. The company operates in nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, Off Shore, and All Other.

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Dividend History for Bancolombia (NYSE:CIB)

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