Bancolombia (CIB) Expected to Post Earnings of $0.91 Per Share
Wall Street brokerages expect that Bancolombia (NYSE:CIB) will announce $0.91 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Bancolombia’s earnings. The lowest EPS estimate is $0.83 and the highest is $0.96. Bancolombia posted earnings per share of $0.88 during the same quarter last year, which suggests a positive year-over-year growth rate of 3.4%. The firm is expected to issue its next quarterly earnings results on Tuesday, May 22nd.
On average, analysts expect that Bancolombia will report full year earnings of $3.96 per share for the current financial year, with EPS estimates ranging from $3.68 to $4.18. For the next financial year, analysts forecast that the firm will post earnings of $4.64 per share, with EPS estimates ranging from $4.42 to $4.86. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Bancolombia.
A number of equities analysts have recently commented on the company. Standpoint Research raised Bancolombia from a “hold” rating to an “accumulate” rating in a report on Wednesday, March 7th. UBS raised Bancolombia from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Zacks Investment Research raised Bancolombia from a “sell” rating to a “hold” rating in a report on Friday, February 9th. ValuEngine raised Bancolombia from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 14th. Finally, Citigroup cut Bancolombia from a “neutral” rating to a “sell” rating in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $44.75.
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 12th. Stockholders of record on Tuesday, March 27th were issued a dividend of $0.3585 per share. The ex-dividend date of this dividend was Monday, March 26th. This represents a $1.43 dividend on an annualized basis and a dividend yield of 2.92%. This is a boost from Bancolombia’s previous quarterly dividend of $0.32. Bancolombia’s payout ratio is 40.11%.
A number of hedge funds have recently modified their holdings of the stock. Guggenheim Capital LLC grew its position in Bancolombia by 432.0% during the 4th quarter. Guggenheim Capital LLC now owns 65,101 shares of the bank’s stock worth $2,581,000 after acquiring an additional 52,864 shares during the last quarter. Jefferies Group LLC grew its position in Bancolombia by 28.8% during the 4th quarter. Jefferies Group LLC now owns 8,995 shares of the bank’s stock worth $357,000 after acquiring an additional 2,010 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in Bancolombia during the 4th quarter worth $682,000. AXA grew its position in Bancolombia by 21.6% during the 4th quarter. AXA now owns 9,000 shares of the bank’s stock worth $357,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in Bancolombia by 2.3% during the 4th quarter. Lazard Asset Management LLC now owns 1,643,311 shares of the bank’s stock worth $65,173,000 after acquiring an additional 37,283 shares during the last quarter. Institutional investors and hedge funds own 12.47% of the company’s stock.
Bancolombia SA provides various banking products and services to individual, corporate, and government customers throughout Colombia, Latin America, and the Caribbean region. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, Off Shore, and All Other.
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