BanColombia S.A. (NYSE:CIB) declared a quarterly dividend on Friday, September 15th, Wall Street Journal reports. Investors 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 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% annually over the last three years. BanColombia has a payout ratio of 31.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect BanColombia to earn $4.33 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 28.4%.
BanColombia (CIB) opened at 47.47 on Friday. The company has a market cap of $11.41 billion, a P/E ratio of 11.54 and a beta of 0.33. BanColombia has a 52 week low of $31.98 and a 52 week high of $48.74. The company has a 50-day moving average of $45.03 and a 200-day moving average of $42.63.
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CIB has been the subject of several recent research reports. BidaskClub raised shares of BanColombia from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Standpoint Research cut shares of BanColombia from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. J P Morgan Chase & Co reissued a “neutral” rating and issued a $41.00 price target (down previously from $42.00) on shares of BanColombia in a research report on Monday, June 5th. Zacks Investment Research cut shares of BanColombia from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Finally, Credit Suisse Group set a $45.00 price objective on shares of BanColombia and gave the company a “hold” rating in a report on Wednesday, May 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $46.33.
BanColombia Company Profile
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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