Colony Bankcorp (NASDAQ:CBAN) Downgraded to “Hold” at StockNews.com

Colony Bankcorp (NASDAQ:CBAN) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Colony Bankcorp Price Performance

NASDAQ:CBAN traded down $0.06 during trading hours on Wednesday, reaching $14.88. 34,163 shares of the company were exchanged, compared to its average volume of 43,363. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 1.01. The stock’s 50-day moving average is $13.76 and its 200-day moving average is $12.16. The firm has a market cap of $261.28 million, a PE ratio of 11.90 and a beta of 0.58. Colony Bankcorp has a twelve month low of $9.35 and a twelve month high of $15.80.

Colony Bankcorp (NASDAQ:CBAN) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $42.83 million during the quarter, compared to analysts’ expectations of $28.97 million. Colony Bankcorp had a net margin of 13.03% and a return on equity of 9.09%. During the same period in the prior year, the business posted $0.33 earnings per share. On average, sell-side analysts anticipate that Colony Bankcorp will post 1.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Colony Bankcorp

A number of hedge funds have recently modified their holdings of the business. Ritholtz Wealth Management raised its position in shares of Colony Bankcorp by 8.9% in the second quarter. Ritholtz Wealth Management now owns 26,753 shares of the financial services provider’s stock valued at $328,000 after buying an additional 2,193 shares during the last quarter. Empowered Funds LLC raised its position in shares of Colony Bankcorp by 7.8% in the first quarter. Empowered Funds LLC now owns 31,396 shares of the financial services provider’s stock valued at $361,000 after buying an additional 2,275 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Colony Bankcorp by 3.6% in the second quarter. Renaissance Technologies LLC now owns 95,078 shares of the financial services provider’s stock valued at $1,165,000 after buying an additional 3,300 shares during the last quarter. Hillsdale Investment Management Inc. raised its position in shares of Colony Bankcorp by 8.9% in the first quarter. Hillsdale Investment Management Inc. now owns 56,057 shares of the financial services provider’s stock valued at $645,000 after buying an additional 4,600 shares during the last quarter. Finally, Trexquant Investment LP raised its position in shares of Colony Bankcorp by 31.1% in the fourth quarter. Trexquant Investment LP now owns 27,777 shares of the financial services provider’s stock valued at $369,000 after buying an additional 6,586 shares during the last quarter. 50.37% of the stock is currently owned by institutional investors and hedge funds.

About Colony Bankcorp

Colony Bankcorp, Inc operates as the bank holding company for Colony Bank that provides various banking products and services to commercial and consumer customers. The company offers deposit products, including demand, savings, and time deposits. It also provides loans to small and medium-sized businesses; residential and commercial construction, and land development loans; commercial real estate loans; commercial loans; agri-business and production loans; residential mortgage loans; home equity loans; and consumer loans.