Bancolombia (NYSE:CIB) Releases Earnings Results, Beats Expectations By $0.22 EPS

Bancolombia (NYSE:CIB) posted its quarterly earnings results on Thursday. The bank reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.22, Zacks reports. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.41 billion. Bancolombia had a net margin of 13.46% and a return on equity of 14.75%.

Bancolombia Price Performance

NYSE CIB opened at $42.80 on Friday. The business has a 50 day simple moving average of $35.50 and a 200 day simple moving average of $33.46. Bancolombia has a 52-week low of $30.25 and a 52-week high of $44.25. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $10.29 billion, a price-to-earnings ratio of 6.78, a PEG ratio of 2.36 and a beta of 1.22.

Wall Street Analyst Weigh In

Separately, Morgan Stanley upgraded Bancolombia from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $53.00 in a report on Tuesday, January 28th.

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.