Zacks: Analysts Anticipate Bancolombia SA (CIB) to Announce $0.91 Earnings Per Share

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Equities analysts predict that Bancolombia SA (NYSE:CIB) will post earnings per share of $0.91 for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Bancolombia’s earnings, with the highest EPS estimate coming in at $0.96 and the lowest estimate coming in at $0.86. Bancolombia reported earnings per share of $0.78 during the same quarter last year, which would indicate a positive year over year growth rate of 16.7%. The company is expected to announce its next quarterly earnings results on Tuesday, May 21st.

According to Zacks, analysts expect that Bancolombia will report full-year earnings of $4.40 per share for the current year, with EPS estimates ranging from $4.08 to $4.86. For the next fiscal year, analysts forecast that the firm will report earnings of $5.04 per share, with EPS estimates ranging from $4.86 to $5.21. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Bancolombia.

Bancolombia (NYSE:CIB) last issued its earnings results on Thursday, February 21st. The bank reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.36. The firm had revenue of $1.28 billion during the quarter. Bancolombia had a net margin of 13.80% and a return on equity of 8.93%.

Several analysts recently weighed in on CIB shares. ValuEngine upgraded Bancolombia from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. Bank of America upgraded Bancolombia from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 22nd. JPMorgan Chase & Co. upgraded Bancolombia from an “underweight” rating to a “neutral” rating in a research report on Monday, February 25th. Zacks Investment Research lowered Bancolombia from a “hold” rating to a “sell” rating in a research report on Monday, December 24th. Finally, Citigroup upgraded Bancolombia from a “neutral” rating to a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $51.00.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CIB. Candriam Luxembourg S.C.A. purchased a new stake in shares of Bancolombia in the fourth quarter valued at approximately $241,000. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Bancolombia by 16.5% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 79,672 shares of the bank’s stock worth $3,035,000 after buying an additional 11,296 shares during the period. Vanguard Group Inc. boosted its holdings in Bancolombia by 0.4% in the third quarter. Vanguard Group Inc. now owns 3,754,870 shares of the bank’s stock valued at $156,653,000 after purchasing an additional 13,683 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in Bancolombia in the fourth quarter valued at about $3,179,000. Finally, Newfoundland Capital Management purchased a new position in Bancolombia in the fourth quarter valued at about $351,000. 6.40% of the stock is currently owned by institutional investors.

Shares of CIB traded up $0.52 during trading hours on Friday, reaching $52.58. 1,934 shares of the company traded hands, compared to its average volume of 362,165. The firm has a market capitalization of $12.62 billion, a P/E ratio of 14.34, a P/E/G ratio of 0.92 and a beta of 0.67. Bancolombia has a 12-month low of $35.52 and a 12-month high of $55.40. The company has a current ratio of 1.11, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, April 8th were given a dividend of $0.3423 per share. This represents a $1.37 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend was Friday, April 5th. This is a positive change from Bancolombia’s previous quarterly dividend of $0.32.

Bancolombia Company Profile

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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