BanColombia S.A. (CIB) Announces Quarterly Dividend of $0.33
BanColombia S.A. (NYSE:CIB) announced a quarterly dividend on Friday, September 15th, Wall Street Journal reports. Stockholders of record on Thursday, September 28th will be paid a dividend of 0.3278 per share by the bank on Thursday, October 12th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, September 27th. This is a positive change from BanColombia’s previous quarterly dividend of $0.33.
BanColombia has decreased its dividend by an average of 10.8% per year over the last three years. BanColombia has a payout ratio of 31.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect BanColombia to earn $4.12 per share next year, which means the company should continue to be able to cover its $1.23 annual dividend with an expected future payout ratio of 29.9%.
BanColombia (CIB) traded up 0.15% during trading on Friday, reaching $47.47. 311,566 shares of the company traded hands. The company has a market cap of $11.41 billion, a PE ratio of 11.54 and a beta of 0.33. BanColombia has a 12 month low of $31.98 and a 12 month high of $48.74. The company’s 50-day moving average is $44.93 and its 200 day moving average is $42.56.
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Several equities research analysts have issued reports on CIB shares. Standpoint Research downgraded BanColombia from a “buy” rating to a “hold” rating in a report on Monday, May 22nd. Credit Suisse Group set a $45.00 price target on BanColombia and gave the company a “hold” rating in a report on Wednesday, May 24th. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $41.00 price target (down previously from $42.00) on shares of BanColombia in a report on Monday, June 5th. Zacks Investment Research downgraded BanColombia from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Finally, BidaskClub downgraded BanColombia from a “strong-buy” rating to a “buy” rating in a report on Friday, June 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $45.67.
Bancolombia SA (Bancolombia) is a financial institution engaged in providing a range of financial products and services to a diversified individual, corporate, and government customer base throughout Colombia, Latin America and the Caribbean region. The Bank operates through 10 segments: Banking Colombia, Banking Panama, Banking El Salvador, Leasing, Trust, Investment Banking, Brokerage, Off Shore and All other.
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