Bancolombia S.A. (CIB) to Issue Quarterly Dividend of $3.81 on April 11th

Bancolombia S.A. (NYSE:CIB) announced a quarterly dividend on Monday, March 17th, Wall Street Journal reports. Shareholders of record on Monday, March 31st will be paid a dividend of 3.8119 per share by the bank on Friday, April 11th. This represents a $15.25 dividend on an annualized basis and a yield of 34.84%. The ex-dividend date 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 237.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Bancolombia to earn $6.28 per share next year, which means the company may not be able to cover its $15.25 annual dividend with an expected future payout ratio of 242.8%.

Bancolombia Stock Performance

NYSE CIB opened at $43.77 on Friday. The business’s 50 day moving average price is $40.66 and its 200-day moving average price is $35.14. Bancolombia has a fifty-two week low of $30.25 and a fifty-two week high of $44.93. The company has a market cap of $10.52 billion, a P/E ratio of 6.95, a P/E/G ratio of 2.47 and a beta of 1.22. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.05.

Bancolombia (NYSE:CIB) last posted its quarterly earnings data on Thursday, February 20th. The bank reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.22. Bancolombia had a net margin of 14.14% and a return on equity of 14.61%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Sell-side analysts predict that Bancolombia will post 6 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on CIB shares. Morgan Stanley upgraded Bancolombia from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $40.00 to $53.00 in a research report on Tuesday, January 28th. The Goldman Sachs Group boosted their price objective on 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.