Zacks: Brokerages Expect Bancolombia SA (NYSE:CIB) to Post $0.95 EPS

Wall Street brokerages expect that Bancolombia SA (NYSE:CIB) will report earnings per share of $0.95 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Bancolombia’s earnings. The highest EPS estimate is $1.02 and the lowest is $0.90. Bancolombia posted earnings per share of $0.84 in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.1%. The company is scheduled to report its next earnings report after the market closes on Monday, August 5th.

On average, analysts expect that Bancolombia will report full year earnings of $4.08 per share for the current year, with EPS estimates ranging from $3.93 to $4.36. For the next financial year, analysts anticipate that the business will report earnings of $4.91 per share, with EPS estimates ranging from $4.79 to $5.04. Zacks’ EPS averages are an average based on a survey of sell-side research firms that cover Bancolombia.

Bancolombia (NYSE:CIB) last posted its quarterly earnings data on Thursday, May 9th. The bank reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.11. The company had revenue of $1.09 billion for the quarter. Bancolombia had a net margin of 15.03% and a return on equity of 11.81%.

A number of research firms recently issued reports on CIB. ValuEngine raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Credit Suisse Group raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and set a $75.00 price target on the stock in a report on Tuesday, April 30th. Zacks Investment Research raised shares of Gerdau from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Finally, Citigroup lowered their price target on shares of UnitedHealth Group from $288.00 to $247.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $54.00.

A number of large investors have recently modified their holdings of the business. Lazard Asset Management LLC lifted its holdings in Bancolombia by 5.6% during the first quarter. Lazard Asset Management LLC now owns 2,971,359 shares of the bank’s stock valued at $151,717,000 after purchasing an additional 157,305 shares in the last quarter. Genesis Asset Managers LLP lifted its holdings in shares of Bancolombia by 8.3% in the first quarter. Genesis Asset Managers LLP now owns 2,442,880 shares of the bank’s stock worth $124,733,000 after buying an additional 187,128 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Bancolombia by 29.9% in the first quarter. Wells Fargo & Company MN now owns 1,513,332 shares of the bank’s stock worth $77,271,000 after buying an additional 348,265 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Bancolombia by 50.1% in the first quarter. Baillie Gifford & Co. now owns 845,117 shares of the bank’s stock worth $43,152,000 after buying an additional 282,223 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Bancolombia in the fourth quarter worth $22,577,000. 7.31% of the stock is currently owned by institutional investors and hedge funds.

Shares of CIB traded down $0.26 on Friday, reaching $51.45. The company’s stock had a trading volume of 185,100 shares, compared to its average volume of 316,311. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $12.29 billion, a PE ratio of 14.78 and a beta of 0.73. The company’s 50 day moving average price is $49.20. Bancolombia has a 12-month low of $35.52 and a 12-month high of $55.40.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Thursday, June 27th will be issued a dividend of $0.3339 per share. This represents a $1.34 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Wednesday, June 26th. Bancolombia’s dividend payout ratio is currently 35.92%.

Bancolombia Company Profile

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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