Bancolombia S.A. (NYSE:CIB) Increases Dividend to $3.81 Per Share

Bancolombia S.A. (NYSE:CIB - Get Free Report) declared a quarterly dividend on Monday, March 17th, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 35.78%. The ex-dividend date of this dividend is Monday, March 31st. This is a 373.9% increase from Bancolombia's previous quarterly dividend of $0.80.

Bancolombia has raised its dividend by an average of 141.9% per year 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 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 Down 0.1 %

Shares of CIB traded down $0.06 during mid-day trading on Friday, hitting $42.61. 595,290 shares of the company's stock were exchanged, compared to its average volume of 285,928. The company has a market cap of $10.25 billion, a PE ratio of 6.76, a P/E/G ratio of 2.47 and a beta of 1.22. Bancolombia has a 52 week low of $30.25 and a 52 week high of $44.25. The company has a 50-day simple moving average of $39.51 and a 200 day simple moving average of $34.76. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.05 and a quick ratio of 1.00.

Remove Ads

Bancolombia (NYSE:CIB - Get Free Report) last released its earnings results on Thursday, February 20th. The bank reported $1.57 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.41 billion. On average, research analysts forecast that Bancolombia will post 6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on CIB shares. Morgan Stanley raised shares of Bancolombia from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $40.00 to $53.00 in a research note on Tuesday, January 28th. The Goldman Sachs Group raised their target price on shares of Bancolombia from $31.00 to $35.00 and gave the company a "sell" rating in a research note on Monday, February 24th.

Bancolombia Company Profile

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.