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.
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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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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