Zacks: Analysts expect Bancolombia SA (NYSE:CIB) to post earnings of $1.33 per share

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Equity research analysts expect Bancolombia SA (NYSE:CIB – Get Rating) to report earnings per share (EPS) of $1.17 for the current quarter, according to Zacks. Analysts at Zero have made earnings estimates for Bancolombia, with the lowest EPS estimate being $1.27 and the highest estimate $1.39. Bancolombia posted earnings per share of $1.28 in the same quarter last year, which would indicate a negative growth rate of 8.6% year over year. The company is expected to release its next results after the market closes on Monday, January 1.

On average, analysts expect Bancolombia to report annual earnings of $5.60 per share for the current year, with EPS estimates ranging from $4.99 to $6.19. For the next fiscal year, analysts expect the company to 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 who provide coverage for Bancolombia.

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

Several equity analysts have recently weighed in on CIB shares. Bank of America upgraded Bancolombia shares from an “underperforming” rating to a “buy” rating in a Wednesday, Feb. 23 research report. Itau BBA Securities upgraded Bancolombia shares from a “market performance” rating to an “outperform” rating and set a price target of $47.00 on the stock in a Wednesday research report March 23. Citigroup upgraded Bancolombia’s shares from a “neutral” rating to a “buy” rating in a Tuesday, May 3 research report. Itaú Unibanco upgraded Bancolombia shares from a “market performer” rating to an “outperformer” rating and set a price target of $47.00 on the stock in a Wednesday 23 research report March. Finally, Goldman Sachs Group moved Bancolombia shares from a “sell” rating to a “buy” rating and raised its price target for the company from $27.00 to $45.00 in a report of research from Thursday, March 3. Three analysts have rated the stock with a hold rating and six have issued a buy rating for 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 changed their positions in the stock. Pinebridge Investments LP 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 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 worth $117,000 after acquiring 327 additional 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 worth $153,000 after acquiring 3,014 additional shares during the period. 3.72% of the shares are currently held by institutional investors and hedge funds.

CIB stock opened at $37.50 on Friday. The company has a debt ratio of 0.87, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization 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 company 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 company also recently announced a quarterly dividend, which was paid on Monday, April 11. Investors of record on Friday, April 1 received a dividend of $0.828 per share. The ex-dividend date was Thursday, March 31. This represents a dividend of $3.31 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 an evaluation)

Bancolombia SA provides various banking products and services to individuals and businesses in Colombia, Panama, Puerto Rico, El Salvador, Costa Rica and Guatemala. The Company operates through nine segments: Bank Colombia, Bank Panama, Bank El Salvador, Bank Guatemala, Trust, Investment Bank, Brokerage, International Bank and All Others.

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