Bancolombia S.A. (NYSE:CIB – Get Free Report) announced a quarterly dividend on Thursday, June 6th, Zacks reports. Investors of record on Thursday, June 27th will be given a dividend of 0.898 per share by the bank on Friday, July 12th. This represents a $3.59 dividend on an annualized basis and a yield of 10.84%. The ex-dividend date is Thursday, June 27th. This is an increase from Bancolombia’s previous quarterly dividend of $0.81.
Bancolombia has raised its dividend by an average of 41.0% per year over the last three years. Bancolombia has a payout ratio of 57.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bancolombia to earn $6.21 per share next year, which means the company should continue to be able to cover its $3.59 annual dividend with an expected future payout ratio of 57.8%.
Bancolombia Trading Up 1.7 %
Shares of CIB opened at $33.15 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.39. The stock has a fifty day moving average price of $34.18 and a two-hundred day moving average price of $32.96. Bancolombia has a 52-week low of $24.15 and a 52-week high of $37.85.
Wall Street Analyst Weigh In
CIB has been the subject of a number of research analyst reports. Bank of America started coverage on shares of Bancolombia in a research note on Thursday, May 2nd. They issued a “neutral” rating and a $38.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of Bancolombia from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.12.
Read Our Latest Research Report on Bancolombia
About Bancolombia
Bancolombia SA, together with its subsidiaries, provides banking products and services in Colombia and internationally. 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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