Bancolombia (NYSE:CIB) Posts Quarterly Earnings Results, Beats Expectations By $0.33 EPS

Bancolombia (NYSE:CIB - Get Free Report) announced its earnings results on Thursday. The bank reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.33, Zacks reports. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $1.81 billion. Bancolombia had a net margin of 13.51% and a return on equity of 18.46%. During the same period in the previous year, the firm posted $1.54 earnings per share.

Bancolombia Trading Up 0.6 %

Bancolombia stock traded up $0.19 during midday trading on Friday, hitting $34.26. 206,170 shares of the stock were exchanged, compared to its average volume of 289,681. Bancolombia has a 52 week low of $23.12 and a 52 week high of $37.15. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $8.24 billion, a PE ratio of 5.61, a P/E/G ratio of 5.20 and a beta of 1.23. The company has a fifty day simple moving average of $33.79 and a two-hundred day simple moving average of $31.14.

Bancolombia Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were paid a $0.8118 dividend. The ex-dividend date was Thursday, March 28th. This represents a $3.25 dividend on an annualized basis and a dividend yield of 9.48%. Bancolombia's dividend payout ratio (DPR) is presently 59.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CIB shares. Bank of America assumed coverage on Bancolombia in a research note on Thursday, May 2nd. They issued a "neutral" rating and a $38.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on Bancolombia from $30.00 to $35.00 and gave the stock an "underweight" rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, Bancolombia has a consensus rating of "Hold" and a consensus price target of $33.12.

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.