Zacks: Analysts Anticipate Bancolombia S.A. (NYSE:CIB) Will Post Earnings of $1.33 Per Share

Equities research analysts expect that Bancolombia S.A. (NYSE:CIB – Get Rating) will announce $1.17 earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have made estimates for Bancolombia’s earnings, with the lowest EPS estimate coming in at $1.27 and the highest estimate coming in at $1.39. Bancolombia posted earnings per share of $1.28 during the same quarter last year, which would indicate a negative year-over-year growth rate of 8.6%. The business is scheduled to issue its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Bancolombia will report full year earnings of $5.60 per share for the current year, with EPS estimates ranging from $4.99 to $6.19. For the next financial year, analysts expect that the firm will post earnings of $6.20 per share, with EPS estimates ranging from $5.24 to $6.88. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Bancolombia.

Bancolombia (NYSE:CIB – Get Rating) last posted its quarterly earnings results on Tuesday, February 22nd. The bank reported $1.51 EPS for the quarter, topping the consensus estimate of $0.90 by $0.61. The business had revenue of $1.25 billion during the quarter. Bancolombia had a net margin of 18.80% and a return on equity of 11.51%.

Several equities analysts recently weighed in on CIB shares. Bank of America raised shares of Bancolombia from an “underperform” rating to a “buy” rating in a research report on Wednesday, February 23rd. Itau BBA Securities raised shares of Bancolombia from a “market perform” rating to an “outperform” rating and set a $47.00 price objective on the stock in a research report on Wednesday, March 23rd. Citigroup raised shares of Bancolombia from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 3rd. Itaú Unibanco raised shares of Bancolombia from a “market perform” rating to an “outperform” rating and set a $47.00 price objective on the stock in a research report on Wednesday, March 23rd. Finally, The Goldman Sachs Group raised shares of Bancolombia from a “sell” rating to a “buy” rating and raised their price objective for the company from $27.00 to $45.00 in a research report on Thursday, March 3rd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $43.00.

Hedge funds have recently made changes to their positions in the stock. Pinebridge Investments L.P. bought a new position in Bancolombia during the first quarter worth $26,000. Trustcore Financial Services LLC increased its position in Bancolombia by 135.7% during the first quarter. Trustcore Financial Services LLC now owns 660 shares of the bank’s stock worth $28,000 after acquiring an additional 380 shares during the period. Marshall Wace LLP bought a new position in Bancolombia during the fourth quarter worth $33,000. PNC Financial Services Group Inc. increased its position in Bancolombia by 13.7% during the first quarter. PNC Financial Services Group Inc. now owns 2,719 shares of the bank’s stock worth $117,000 after acquiring an additional 327 shares during the period. Finally, Atlas Capital Advisors LLC increased its position in Bancolombia by 530.6% during the first quarter. Atlas Capital Advisors LLC now owns 3,582 shares of the bank’s stock worth $153,000 after acquiring an additional 3,014 shares during the period. 3.72% of the stock is currently owned by institutional investors and hedge funds.

CIB stock opened at $37.50 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market cap of $9.02 billion, a P/E ratio of 8.48, a P/E/G ratio of 0.43 and a beta of 1.25. The firm has a 50 day simple moving average of $40.35 and a 200 day simple moving average of $35.96. Bancolombia has a 52 week low of $27.64 and a 52 week high of $44.33.

The business also recently announced a quarterly dividend, which was paid on Monday, April 11th. Investors of record on Friday, April 1st were given a dividend of $0.828 per share. The ex-dividend date of this dividend was Thursday, March 31st. This represents a $3.31 dividend on an annualized basis and a yield of 8.83%. This is a positive change from Bancolombia’s previous quarterly dividend of $0.07. Bancolombia’s payout ratio is 67.87%.

Bancolombia Company Profile (Get Rating)

Bancolombia S. A. provides various banking products and services to individual and corporate customers 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.

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