Bancolombia SA (NYSE:CIB) Raises Dividend to $0.46 Per Share

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Bancolombia SA (NYSE:CIB) declared a — dividend on Monday, March 23rd, Wall Street Journal reports. Shareholders of record on Monday, March 30th will be paid a dividend of 0.4632 per share by the bank on Monday, April 13th. This represents a yield of 7.4%. The ex-dividend date of this dividend is Friday, March 27th. This is a positive change from Bancolombia’s previous — dividend of $0.32.

Bancolombia has decreased its dividend payment by an average of 1.9% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Bancolombia has a payout ratio of 26.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Bancolombia to earn $5.03 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 23.9%.

NYSE CIB opened at $22.36 on Thursday. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 4.38, a PEG ratio of 0.24 and a beta of 0.90. The firm has a 50 day simple moving average of $41.98 and a 200-day simple moving average of $49.54. Bancolombia has a one year low of $16.27 and a one year high of $56.10. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.11.

Bancolombia (NYSE:CIB) last announced its earnings results on Thursday, February 20th. The bank reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.27). The business had revenue of $1.23 billion during the quarter. Bancolombia had a net margin of 14.84% and a return on equity of 11.50%. Equities analysts predict that Bancolombia will post 4.51 EPS for the current fiscal year.

A number of equities research analysts have commented on the company. TheStreet cut Bancolombia from a “b” rating to a “c+” rating in a report on Tuesday, March 17th. HSBC upgraded Bancolombia from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Credit Suisse Group downgraded Bancolombia from a “neutral” rating to an “underperform” rating in a research note on Friday, March 13th. BTIG Research cut shares of Bancolombia from a “buy” rating to a “neutral” rating in a research report on Friday, February 21st. Finally, ValuEngine downgraded shares of Bancolombia from a “hold” rating to a “sell” rating in a research report on Friday, March 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $56.33.

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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