Bancolombia S.A. (NYSE:CIB) Announces Quarterly Dividend of $3.81

Bancolombia S.A. (NYSE:CIB) announced a quarterly dividend on Monday, March 17th, Wall Street Journal reports. Investors of record on Monday, March 31st will be given a dividend of 3.8119 per share by the bank on Friday, April 11th. This represents a $15.25 annualized dividend and a dividend yield of 35.50%. The ex-dividend date of this dividend is Monday, March 31st. This is a 373.9% increase from Bancolombia’s previous quarterly dividend of $0.80.

Bancolombia has increased its dividend by an average of 141.9% annually over the last three years. Bancolombia has a payout ratio of 50.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bancolombia to earn $6.28 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 51.0%.

Bancolombia Price Performance

Shares of Bancolombia stock traded down $0.13 during trading on Wednesday, hitting $42.96. 469,698 shares of the company’s stock traded hands, compared to its average volume of 284,735. The company has a market cap of $10.33 billion, a PE ratio of 6.82, a PEG ratio of 2.47 and a beta of 1.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.05 and a quick ratio of 1.00. Bancolombia has a twelve month low of $30.25 and a twelve month high of $44.25. The firm’s fifty day moving average price is $38.90 and its 200 day moving average price is $34.56.

Bancolombia (NYSE:CIB) last announced its quarterly earnings results on Thursday, February 20th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.22. Bancolombia had a net margin of 14.14% and a return on equity of 14.61%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.41 billion. Analysts forecast that Bancolombia will post 6 earnings per share for the current year.

Wall Street Analyst Weigh In

CIB has been the subject of several analyst reports. Morgan Stanley raised shares of Bancolombia from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $40.00 to $53.00 in a report on Tuesday, January 28th. The Goldman Sachs Group lifted their price target on shares of Bancolombia from $31.00 to $35.00 and gave the company a “sell” rating in a report on Monday, February 24th.

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.