Bancolombia SA (CIB) To Go Ex-Dividend on June 26th

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Bancolombia SA (NYSE:CIB) declared a quarterly dividend on Thursday, June 13th, Wall Street Journal reports. Stockholders of record on Thursday, June 27th will be paid a dividend of 0.3339 per share by the bank on Friday, July 12th. This represents a $1.34 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Wednesday, June 26th.

Bancolombia has decreased its dividend by an average of 4.3% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Bancolombia has a payout ratio of 36.8% meaning its dividend is sufficiently covered by earnings. Research 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%.

Shares of NYSE:CIB opened at $50.78 on Monday. The company has a market capitalization of $12.21 billion, a PE ratio of 14.59 and a beta of 0.69. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.76. Bancolombia has a 12 month low of $35.52 and a 12 month high of $55.40.

Bancolombia (NYSE:CIB) last issued its earnings results on Thursday, May 9th. The bank reported $1.09 EPS for the quarter, beating the consensus estimate of $0.98 by $0.11. The company had revenue of $1.09 billion during the quarter. Bancolombia had a net margin of 15.03% and a return on equity of 11.81%. As a group, research analysts expect that Bancolombia will post 4.08 EPS for the current year.

Several brokerages have recently commented on CIB. ValuEngine upgraded shares of Bancolombia from a “hold” rating to a “buy” rating in a research report on Thursday, March 21st. Citigroup raised shares of Bancolombia from a “neutral” rating to a “buy” rating in a report on Wednesday, April 17th. Credit Suisse Group lowered shares of Bancolombia from a “neutral” rating to an “underperform” rating in a report on Tuesday, April 30th. Zacks Investment Research raised shares of Bancolombia from a “strong sell” rating to a “hold” rating in a report on Friday, March 1st. Finally, JPMorgan Chase & Co. raised shares of Bancolombia from an “underweight” rating to a “neutral” rating in a report on Monday, February 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $54.00.

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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Dividend History for Bancolombia (NYSE:CIB)

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