Bancolombia (NYSE:CIB) Posts Earnings Results, Beats Expectations By $0.22 EPS

Bancolombia (NYSE:CIB) issued its quarterly earnings results on Thursday. The bank reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.22, Zacks reports. Bancolombia had a return on equity of 14.75% and a net margin of 13.46%.

Bancolombia Price Performance

NYSE:CIB traded up $1.53 during trading hours on Thursday, hitting $43.05. 846,156 shares of the stock were exchanged, compared to its average volume of 424,466. The company has a market cap of $10.35 billion, a P/E ratio of 6.83, a P/E/G ratio of 2.34 and a beta of 1.22. The firm’s fifty day moving average price is $35.10 and its 200 day moving average price is $33.31. Bancolombia has a 52-week low of $30.25 and a 52-week high of $44.25. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.34.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley upgraded Bancolombia from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $40.00 to $53.00 in a research report on Tuesday, January 28th.

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.