Bancolombia S.A. (CIB) to Issue Quarterly Dividend of $0.80 on January 13th

Bancolombia S.A. (NYSE:CIB) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Investors of record on Monday, December 30th will be given a dividend of 0.8044 per share by the bank on Monday, January 13th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 9.81%. The ex-dividend date of this dividend is Monday, December 30th.

Bancolombia has increased its dividend payment by an average of 41.0% annually over the last three years. Bancolombia has a payout ratio of 55.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bancolombia to earn $5.93 per share next year, which means the company should continue to be able to cover its $3.22 annual dividend with an expected future payout ratio of 54.3%.

Bancolombia Stock Up 0.2 %

Bancolombia stock opened at $32.81 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50-day moving average price of $32.03 and a two-hundred day moving average price of $33.06. Bancolombia has a 52-week low of $27.43 and a 52-week high of $37.85.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Bank of America lowered shares of Bancolombia from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $38.00 to $34.00 in a research note on Thursday, August 29th. JPMorgan Chase & Co. reduced their price target on shares of Bancolombia from $36.00 to $35.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Finally, The Goldman Sachs Group lowered shares of Bancolombia from a “neutral” rating to a “sell” rating and cut their price target for the company from $34.00 to $32.00 in a report on Tuesday, August 20th.

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.