Bancolombia SA (NYSE:CIB) Expected to Announce Earnings of $0.95 Per Share

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Analysts predict that Bancolombia SA (NYSE:CIB) will report earnings of $0.95 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have made estimates for Bancolombia’s earnings. The lowest EPS estimate is $0.90 and the highest is $1.02. Bancolombia posted earnings per share of $0.84 in the same quarter last year, which suggests a positive year-over-year growth rate of 13.1%. The business is expected to issue its next earnings results 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 forecast that the business will report earnings of $4.91 per share, with EPS estimates ranging from $4.79 to $5.04. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Bancolombia.

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

CIB has been the subject of a number of analyst reports. Zacks Investment Research raised Bancolombia from a “strong sell” rating to a “hold” rating in a report on Friday, March 1st. Citigroup raised Bancolombia from a “neutral” rating to a “buy” rating in a report on Wednesday, April 17th. ValuEngine raised Bancolombia from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. Finally, Credit Suisse Group cut Bancolombia from a “neutral” rating to an “underperform” rating in a report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $54.00.

Several large investors have recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Bancolombia by 6.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 166,700 shares of the bank’s stock worth $8,512,000 after acquiring an additional 9,600 shares in the last quarter. First Trust Advisors LP acquired a new position in shares of Bancolombia in the first quarter worth about $426,000. FMR LLC raised its stake in Bancolombia by 249.7% during the first quarter. FMR LLC now owns 168,162 shares of the bank’s stock valued at $8,586,000 after buying an additional 120,074 shares in the last quarter. Lazard Asset Management LLC raised its stake 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 buying an additional 157,305 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its stake in Bancolombia by 113.3% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 89,800 shares of the bank’s stock valued at $4,585,000 after buying an additional 47,700 shares in the last quarter. 7.31% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE CIB traded up $0.08 during trading on Wednesday, reaching $51.35. The company had a trading volume of 7,466 shares, compared to its average volume of 313,892. Bancolombia has a twelve month low of $35.52 and a twelve month high of $55.40. The stock has a market capitalization of $12.40 billion, a PE ratio of 14.74 and a beta of 0.70. The business’s 50-day simple moving average is $48.03. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Thursday, June 27th will be given a $0.3339 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Wednesday, June 26th. Bancolombia’s dividend payout ratio is currently 36.78%.

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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