Bancolombia S.A. Announces Quarterly Dividend of $0.81 (NYSE:CIB)

Bancolombia S.A. (NYSE:CIB) announced a quarterly dividend on Thursday, March 21st, Wall Street Journal reports. Investors of record on Monday, April 1st will be given a dividend of 0.8118 per share by the bank on Thursday, April 11th. This represents a $3.25 dividend on an annualized basis and a yield of 9.25%. The ex-dividend date of this dividend is Thursday, March 28th.

Bancolombia has raised its dividend payment by an average of 39.9% per year over the last three years. Bancolombia has a dividend payout ratio of 53.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bancolombia to earn $6.01 per share next year, which means the company should continue to be able to cover its $3.25 annual dividend with an expected future payout ratio of 54.1%.

Bancolombia Stock Up 2.0 %

CIB opened at $35.09 on Wednesday. Bancolombia has a 12-month low of $22.95 and a 12-month high of $35.31. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.03 and a quick ratio of 1.02. The firm has a 50 day moving average of $32.37 and a two-hundred day moving average of $29.44.

Bancolombia (NYSE:CIB) last posted its quarterly earnings results on Tuesday, February 20th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.26. Bancolombia had a net margin of 13.51% and a return on equity of 18.46%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.68 billion. On average, equities research analysts expect that Bancolombia will post 5.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bancolombia

Several institutional investors and hedge funds have recently added to or reduced their stakes in CIB. Advisor Group Holdings Inc. boosted its stake in Bancolombia by 12.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,173 shares of the bank’s stock worth $221,000 after purchasing an additional 553 shares during the last quarter. American Century Companies Inc. boosted its stake in Bancolombia by 14.2% during the 1st quarter. American Century Companies Inc. now owns 16,862 shares of the bank’s stock worth $719,000 after purchasing an additional 2,099 shares during the last quarter. US Bancorp DE boosted its stake in Bancolombia by 7.7% during the 1st quarter. US Bancorp DE now owns 8,982 shares of the bank’s stock worth $383,000 after purchasing an additional 643 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Bancolombia by 13.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,719 shares of the bank’s stock worth $117,000 after purchasing an additional 327 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of Bancolombia by 25.1% during the 1st quarter. BlackRock Inc. now owns 2,227,183 shares of the bank’s stock valued at $95,011,000 after acquiring an additional 446,778 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, HSBC lowered shares of Bancolombia from a “buy” rating to a “hold” rating in a report on Monday, January 8th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $30.65.

About Bancolombia

Bancolombia SA provides banking products and services in Colombia, Panama, Puerto Rico, El Salvador, Bermuda, and Guatemala. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.