Bancolombia SA (NYSE:CIB) declared a quarterly dividend on Thursday, June 11th, Wall Street Journal reports. Stockholders of record on Tuesday, June 30th will be paid a dividend of 0.3179 per share by the bank on Monday, July 13th. This represents a $1.27 annualized dividend and a dividend yield of 4.82%. The ex-dividend date is Monday, June 29th.
Bancolombia has a dividend payout ratio of 56.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bancolombia to earn $3.04 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 53.9%.
Shares of Bancolombia stock opened at $26.39 on Friday. The business has a fifty day simple moving average of $26.40 and a 200-day simple moving average of $38.47. Bancolombia has a fifty-two week low of $16.27 and a fifty-two week high of $56.10. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 1.31 and a beta of 1.23. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.79.
CIB has been the topic of a number of research reports. Goldman Sachs Group initiated coverage on shares of Bancolombia in a report on Wednesday, June 17th. They issued a “sell” rating and a $27.00 target price on the stock. Credit Suisse Group cut Bancolombia from a “neutral” rating to an “underperform” rating in a report on Friday, March 13th. TheStreet downgraded Bancolombia from a “b” rating to a “c+” rating in a research report on Tuesday, March 17th. Zacks Investment Research upgraded Bancolombia from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, ValuEngine raised Bancolombia from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Bancolombia currently has a consensus rating of “Hold” and an average target price of $49.00.
Bancolombia Company Profile
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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