Bancolombia SA (NYSE:CIB) declared a quarterly dividend on Thursday, June 13th, Wall Street Journal reports. Investors of record on Thursday, June 27th will be given a dividend of 0.3339 per share by the bank on Friday, July 12th. This represents a $1.34 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Wednesday, June 26th.

Bancolombia has decreased its dividend payment by an average of 4.3% per year over the last three years and has increased its dividend every year for the last 2 years. Bancolombia has a payout ratio of 36.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bancolombia to earn $4.91 per share next year, which means the company should continue to be able to cover its $1.34 annual dividend with an expected future payout ratio of 27.3%.

CIB stock traded up $0.20 during trading on Tuesday, reaching $51.77. The company had a trading volume of 450 shares, compared to its average volume of 306,212. Bancolombia has a 52 week low of $35.52 and a 52 week high of $55.40. The stock has a market cap of $12.21 billion, a P/E ratio of 14.82 and a beta of 0.69. The business’s 50 day moving average price is $47.97. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.10 and a current ratio of 1.10.

Bancolombia (NYSE:CIB) last released its quarterly earnings results on Thursday, May 9th. The bank reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.11. Bancolombia had a net margin of 15.03% and a return on equity of 11.81%. The company had revenue of $1.09 billion during the quarter. Analysts forecast that Bancolombia will post 4.08 earnings per share for the current year.

A number of equities analysts recently issued reports on CIB shares. Zacks Investment Research raised shares of Bancolombia from a “strong sell” rating to a “hold” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. raised shares of Bancolombia from an “underweight” rating to a “neutral” rating in a research note on Monday, February 25th. Credit Suisse Group downgraded shares of Bancolombia from a “neutral” rating to an “underperform” rating in a research note on Tuesday, April 30th. Citigroup raised shares of Bancolombia from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 17th. Finally, ValuEngine downgraded shares of Bancolombia from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $54.00.

About Bancolombia

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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Dividend History for Bancolombia (NYSE:CIB)

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