Zacks: Analysts Predict Bancolombia SA (NYSE: CIB) to Report EPS of $ 0.92
Analysts expect Bancolombia SA (NYSE: CIB) to post earnings of $ 0.92 per share for the current fiscal quarter, Zacks reports. Analysts at Zero have released estimates for Bancolombia’s earnings, with the highest EPS estimate at $ 1.27 and the lowest estimate at $ 0.70. Bancolombia posted earnings of $ 0.30 per share in the same quarter last year, suggesting a positive year-over-year growth rate of 206.7%. The company is expected to release its next quarterly earnings report on Thursday, November 11.
According to Zacks, analysts expect Bancolombia to report annual profit of $ 3.42 per share for the current fiscal year, with EPS estimates ranging from $ 3.17 to $ 3.66. For the next fiscal year, analysts expect the company to report earnings of $ 3.87 per share, with EPS estimates ranging from $ 3.61 to $ 4.10. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research companies that track Bancolombia.
Bancolombia (NYSE: CIB) last released its quarterly results on Wednesday, August 11. The bank reported earnings per share of $ 1.28 for the quarter, beating consensus analysts’ estimates of $ 0.54 by $ 0.74. Bancolombia had a net margin of 8.29% and a return on equity of 5.32%. The company reported sales of $ 1.13 billion for the quarter.
The IBC has been the subject of several research reports. TheStreet upgraded Bancolombia from a “c +” rating to a “b-” rating in a report released on Wednesday, September 29. Zacks Investment Research downgraded Bancolombia from a “strong buy” rating to a “retained” rating in a report released on Tuesday, October 12. Credit Suisse Group upgraded Bancolombia from an “underperforming” rating to a “neutral” rating in a report published on Wednesday August 4th. Finally, Grupo Santander upgraded Bancolombia from an “underweight” rating to a “retained” rating and set a price target of $ 34.00 for the company in a report released on Monday, August 2. Five investment analysts rated the stock with a conservation rating. Based on MarketBeat data, Bancolombia currently has a consensus rating of “Hold” and an average target price of $ 34.50.
Shares of CIB traded down $ 0.15 at midday on Friday, reaching $ 35.59. The company had a trading volume of 256,371 shares, compared to an average volume of 244,462. The company’s 50-day simple moving average is $ 33.17 and its 200-day simple moving average is $ 31.33 . The company has a leverage ratio of 0.65, a quick ratio of 1.02, and a current ratio of 1.02. The company has a market cap of $ 8.56 billion, a price-to-earnings ratio of 18.83 and a beta of 1.40. Bancolombia has a one-year minimum at $ 24.18 and a one-year maximum at $ 42.00.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 12. Shareholders of record on Wednesday, September 29, received a dividend of $ 0.0672 per share. The ex-dividend date of this dividend was Tuesday, September 28. This represents an annualized dividend of $ 0.27 and a dividend yield of 0.76%. Bancolombia’s payout rate is currently 77.42%.
Several institutional investors have recently increased or reduced their holdings in CIB. Lazard Asset Management LLC strengthened its position in Bancolombia shares by 17.2% during the first quarter. Lazard Asset Management LLC now owns 2,921,155 shares of the bank valued at $ 93,447,000 after purchasing an additional 427,766 shares in the last quarter. INCA Investments LLC strengthened its position in Bancolombia shares by 86.9% during the second quarter. INCA Investments LLC now owns 777,200 shares of the bank valued at $ 22,383,000 after purchasing an additional 361,255 shares during the last quarter. JPMorgan Chase & Co. purchased a new equity stake in Bancolombia during the second quarter valued at $ 5,864,000. Invesco Ltd. strengthened its position in Bancolombia by 33.1% in the second quarter. Invesco Ltd. now owns 501,445 shares of the bank valued at $ 14,442,000 after purchasing an additional 124,820 shares in the last quarter. Finally, FMR LLC strengthened its position in Bancolombia by 249.7% in the first quarter. FMR LLC now owns 168,162 shares of the bank valued at $ 8,586,000 after purchasing an additional 120,074 shares during the last quarter. 5.05% of the shares are currently held by institutional investors.
Bancolombia Company Profile
Bancolombia SA provides various banking products and services to individuals, businesses and governments in Colombia, Latin America and the Caribbean region. It operates through the following operating segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment banking, Brokerage, Off Shore and others.
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