Bancolombia's earnings for the fourth quarter were better than expected, thanks to improved credit conditions that enhanced their financial outlook. The bank's loan portfolio saw significant growth from the last quarter, and they increased their forecast for net interest margins. Positive market sentiment, influenced by anticipated government changes, analyst price targets, and monetary policy, has led to a 34.2% rise in CIB's shares since mid-January.
Bancolombia S.A. (NYSE:CIB) will hold its Q4 2024 Earnings Conference Call on February 20, 2024, at 9:00 AM ET. The call will feature company representatives including CEO Juan Carlos Mora, Chief Economist Laura Clavijo, and CFO Mauricio Wolff. Participants from various financial institutions, such as Citi and Goldman Sachs, will also be joining the call.
Bancolombia, a top bank in Latin America, offers a 9% dividend yield, which is well-supported by its earnings and has shown consistent performance over the last three years. Its large presence in Colombia and strong positions in Central America give it considerable market power and opportunities for growth, even with some political and economic challenges. The planned reorganization into Grupo Cibest may create more value by improving visibility, allowing for spin-offs, and enabling share buybacks, which could benefit shareholders.
BROOKFIELD, Wis., Feb. 04, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of CIB Marine Bancshares, Inc. (the “Company” or “CIB Marine”) (OTCQX: CIBH), which is the parent company of CIBM Bank, has approved a share repurchase program for 2025, allowing for the buyback of up to $1 million of its common stock. This is the first time the Company has initiated a common stock repurchase since it finished buying back all its preferred stock in 2024.
BROOKFIELD, Wis., Jan. 24, 2025 (GLOBE NEWSWIRE) -- CIB Marine Bancshares, Inc. (the “Company” or “CIB Marine”) (OTCQX: CIBH), which owns CIBM Bank (the “Bank”), has released its unaudited financial results for the quarter and year ending December 31, 2024. The company's earnings increased by $4.6 million compared to 2023, and it fully redeemed its Preferred Stock in the fourth quarter. Additionally, the net interest margin has improved since late 2023, and the Mortgage Division had its best performance since 2021.
Investors interested in the foreign banking sector may want to look at Bancolombia (CIB) or DBS Group Holdings Ltd (DBSDY). However, which of these two stocks is more appealing for value investors?
Bancolombia S.A. (NYSE:CIB) will hold its Q3 2024 Earnings Conference Call on November 8, 2024, at 9:00 AM ET. The call will feature company representatives including CEO Juan Carlos Mora, Chief Economist Laura Clavijo, and CFO Mauricio Wolff, along with participants from various financial institutions. The operator will begin the call by welcoming everyone to the event.
BROOKFIELD, Wis., Oct. 31, 2024 (GLOBE NEWSWIRE) -- CIB Marine Bancshares, Inc. (referred to as “the Company” or “CIB Marine”) (OTCQX: CIBH) has successfully completed the redemption of all its preferred stock for a total of $13.4 million, paying $825 per share. As of October 31, 2024, CIB Marine has sent the required funds to its redemption agent, Computershare Trust Company, N.A., and all outstanding preferred shares have been redeemed according to the Notice of Redemption and Letter of Transmittal issued on October 17, 2024.
Bancolombia is currently valued at a low 5.5 times its future earnings and offers a 10% dividend yield, which makes it an attractive investment. The company is investing significantly in digital services, indicating strong innovation and growth potential in the Latin American banking market. As inflation trends improve in Colombia, Bancolombia could gain from possible interest rate cuts and a boost in economic activity, making it a good option for investors.
BROOKFIELD, Wis., July 16, 2024 (GLOBE NEWSWIRE) -- CIB Marine Bancshares, Inc. (the “Company” or “CIB Marine”) (OTCQX: CIBH), the holding company of CIBM Bank (the “Bank”), announced its unaudited results of operations and financial condition for the quarter and six months ended June 30, 2024. During the quarter, net interest income increased $0.2 million from the prior quarter, the Mortgage Division earned $0.2 million, and CIBM Bank completed a sale-leaseback transaction with a gross purchase price of $6.6 million and a net gain on sale of $4.5 million.