Colony Bankcorp (NASDAQ:CBAN) Upgraded at StockNews.com

StockNews.com upgraded shares of Colony Bankcorp (NASDAQ:CBAN) from a hold rating to a buy rating in a research report report published on Saturday morning.

Colony Bankcorp Price Performance

Shares of CBAN stock opened at $17.39 on Friday. Colony Bankcorp has a 12 month low of $10.33 and a 12 month high of $18.49. The company has a market capitalization of $304.85 million, a PE ratio of 13.91 and a beta of 0.61. The firm’s 50-day moving average is $16.26 and its two-hundred day moving average is $14.49. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.80.

Colony Bankcorp (NASDAQ:CBAN) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Colony Bankcorp had a net margin of 12.75% and a return on equity of 8.86%. The firm had revenue of $44.69 million during the quarter, compared to analysts’ expectations of $28.67 million. During the same quarter in the previous year, the business posted $0.34 earnings per share. Analysts predict that Colony Bankcorp will post 1.38 earnings per share for the current year.

Colony Bankcorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th were given a $0.112 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 2.58%. Colony Bankcorp’s dividend payout ratio (DPR) is presently 36.00%.

Hedge Funds Weigh In On Colony Bankcorp

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Colony Bankcorp by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 918,020 shares of the financial services provider’s stock valued at $10,557,000 after buying an additional 6,891 shares during the period. Bank of New York Mellon Corp grew its position in Colony Bankcorp by 15.4% during the second quarter. Bank of New York Mellon Corp now owns 58,044 shares of the financial services provider’s stock worth $711,000 after buying an additional 7,726 shares during the period. Panagora Asset Management Inc. lifted its position in shares of Colony Bankcorp by 19.3% during the 2nd quarter. Panagora Asset Management Inc. now owns 48,782 shares of the financial services provider’s stock valued at $598,000 after acquiring an additional 7,885 shares during the period. Rothschild Investment LLC purchased a new stake in shares of Colony Bankcorp during the 2nd quarter worth approximately $139,000. Finally, Ritholtz Wealth Management grew its holdings in shares of Colony Bankcorp by 8.9% in the 2nd quarter. Ritholtz Wealth Management now owns 26,753 shares of the financial services provider’s stock worth $328,000 after acquiring an additional 2,193 shares during the period. Institutional investors and hedge funds own 50.37% of the company’s stock.

Colony Bankcorp Company Profile

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.