Zacks: Brokerages Anticipate Bancolombia SA (CIB) Will Post Earnings of $1.02 Per Share

Brokerages expect that Bancolombia SA (NYSE:CIB) will post earnings per share of $1.02 for the current quarter, according to Zacks. Zero analysts have made estimates for Bancolombia’s earnings, with estimates ranging from $0.89 to $1.14. Bancolombia posted earnings of $1.57 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 35%. The firm is scheduled to announce its next earnings results on Tuesday, February 20th.

On average, analysts expect that Bancolombia will report full year earnings of $3.42 per share for the current year, with EPS estimates ranging from $3.30 to $3.53. For the next fiscal year, analysts expect that the company will post earnings of $4.13 per share, with EPS estimates ranging from $3.69 to $4.81. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Bancolombia.

A number of brokerages have recently weighed in on CIB. Zacks Investment Research lowered shares of Bancolombia from a “hold” rating to a “sell” rating in a report on Tuesday, November 21st. Deutsche Bank lowered shares of Bancolombia from a “buy” rating to a “hold” rating and dropped their price objective for the company from $52.00 to $45.00 in a report on Friday, October 27th. J P Morgan Chase & Co lowered shares of Bancolombia from a “neutral” rating to an “underweight” rating and set a $41.00 price objective on the stock. in a report on Wednesday, October 4th. Finally, Santander lowered shares of Bancolombia from a “hold” rating to an “underperform” rating in a report on Wednesday, September 20th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $46.00.

Shares of Bancolombia (CIB) traded down $0.10 on Monday, hitting $38.98. 381,019 shares of the stock were exchanged, compared to its average volume of 371,930. The stock has a market capitalization of $9,211.91, a price-to-earnings ratio of 9.63, a PEG ratio of 2.26 and a beta of 0.34. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.83. Bancolombia has a 12-month low of $35.52 and a 12-month high of $48.74.

A number of hedge funds and other institutional investors have recently bought and sold shares of CIB. Advisor Group Inc. lifted its position in Bancolombia by 1.6% during the second quarter. Advisor Group Inc. now owns 3,227 shares of the bank’s stock valued at $144,000 after purchasing an additional 52 shares during the period. Pinebridge Investments L.P. acquired a new position in Bancolombia during the second quarter valued at $223,000. High Pointe Capital Management LLC acquired a new position in Bancolombia during the second quarter valued at $228,000. First Trust Advisors LP acquired a new position in Bancolombia during the third quarter valued at $230,000. Finally, Citadel Advisors LLC acquired a new position in Bancolombia during the third quarter valued at $270,000. Institutional investors own 13.33% of the company’s stock.

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About Bancolombia

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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