Bancolombia - CIB Stock Forecast, Price & News

Bancolombia S.A. provides banking products and services in Colombia, Panama, Puerto Rico, El Salvador, Costa Rica, 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. It offers checking and savings accounts, fixed term deposits, and investment products; trade financing, loans funded by domestic development banks, working capital loans, credit cards, personal and vehicle loans, payroll loans, and overdrafts; financial support to real estate developers and mortgages for individuals and companies; factoring; and financial and operating leasing services. The company also provides hedging instruments, including futures, forwards, options, and swaps; and brokerage, investment advisory, and private banking services, including selling and distributing equities, futures, foreign currencies, fixed income securities, mutual funds, and structured products. In addition, it offers cash management services; foreign currency transaction services; life, auto, commercial, and homeowner's insurance products; and online and computer banking services. Further, the company provides project and acquisition finance, debt and equity capital markets, principal investments, M&A, hedging strategies, restructurings, and structured financing; money market accounts, mutual and pension funds, private equity funds, payment and corporate trust, and custody; internet-based trading platform; inter-bank lending and repurchase agreements; managing escrow accounts, and investment and real estate funds; and transportation, securities brokerage, maintenance and remodeling, and outsourcing services. As of December 31, 2021, it operated 1,015 branches; 28,676 banking correspondents; 529 PAMs; 210 kiosks in El Salvador and 187 in Colombia; and 6,094 ATMs. Bancolombia S.A. was incorporated in 1945 and is headquartered in Medellín, Colombia.

Bancolombia Trading Up 2.6 %

Shares of NYSE:CIB opened at $32.84 on Friday. The stock has a market capitalization of $7.90 billion, a PE ratio of 5.73, a P/E/G ratio of 0.29 and a beta of 1.27. Bancolombia has a 1 year low of $26.27 and a 1 year high of $45.98. The firm has a fifty day moving average price of $32.26 and a 200 day moving average price of $36.50. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 0.61.

Bancolombia (NYSE:CIB - Get Rating) last issued its quarterly earnings data on Wednesday, May 11th. The bank reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.75. The firm had revenue of $1.35 billion during the quarter. Bancolombia had a net margin of 23.42% and a return on equity of 16.24%. Analysts expect that Bancolombia will post 6.39 EPS for the current fiscal year.

Bancolombia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 11th. Investors of record on Wednesday, June 29th were issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 10.05%. The ex-dividend date was Tuesday, June 28th. Bancolombia's dividend payout ratio is presently 45.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CIB shares. Credit Suisse Group upgraded Bancolombia from a "neutral" rating to an "outperform" rating and set a $35.00 target price for the company in a research report on Tuesday, August 2nd. Citigroup raised shares of Bancolombia from a "neutral" rating to a "buy" rating in a research note on Tuesday, May 3rd. Finally, TheStreet downgraded shares of Bancolombia from a "b-" rating to a "c+" rating in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $44.00.