Bancolombia (CIB) Set to Announce Earnings on Wednesday

by · The Markets Daily

Bancolombia (NYSE:CIBGet Free Report) is set to post its quarterly earnings results after the market closes on Wednesday, November 6th. Analysts expect Bancolombia to post earnings of $1.45 per share for the quarter.

Bancolombia (NYSE:CIBGet Free Report) last announced its earnings results on Thursday, August 8th. The bank reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.01. Bancolombia had a net margin of 13.73% and a return on equity of 15.68%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.82 billion. On average, analysts expect Bancolombia to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Bancolombia Price Performance

Shares of CIB stock traded up $0.46 during midday trading on Tuesday, reaching $32.22. 142,263 shares of the company were exchanged, compared to its average volume of 267,238. The company’s 50 day moving average price is $32.07 and its two-hundred day moving average price is $33.11. Bancolombia has a 12 month low of $26.35 and a 12 month high of $37.85. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.40.

Bancolombia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.8456 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.38 annualized dividend and a yield of 10.50%. Bancolombia’s dividend payout ratio (DPR) is 52.28%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CIB. The Goldman Sachs Group cut Bancolombia from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $34.00 to $32.00 in a research report on Tuesday, August 20th. Bank of America downgraded shares of Bancolombia from a “neutral” rating to an “underperform” rating and cut their price target for the company from $38.00 to $34.00 in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Bancolombia from $36.00 to $35.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th.

Get Our Latest Analysis on CIB

About Bancolombia

(Get Free Report)

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.

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