Colony Bankcorp (NASDAQ:CBAN) Shares Pass Above 200 Day Moving Average – Here’s Why

Colony Bankcorp, Inc. (NASDAQ:CBAN) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.69 and traded as high as $17.50. Colony Bankcorp shares last traded at $17.31, with a volume of 41,610 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Colony Bankcorp from a “hold” rating to a “buy” rating in a report on Saturday, December 7th.

Colony Bankcorp Stock Performance

The company’s 50-day moving average price is $16.50 and its two-hundred day moving average price is $14.69. The company has a market cap of $303.39 million, a P/E ratio of 13.85 and a beta of 0.61. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.90.

Colony Bankcorp (NASDAQ:CBAN) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $44.69 million during the quarter, compared to analysts’ expectations of $28.67 million. Colony Bankcorp had a net margin of 12.75% and a return on equity of 8.86%. During the same period last year, the firm posted $0.34 earnings per share. As a group, equities analysts forecast that Colony Bankcorp, Inc. will post 1.38 earnings per share for the current year.

Colony Bankcorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th were given a dividend of $0.112 per share. This represents a $0.45 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date was Wednesday, November 6th. Colony Bankcorp’s dividend payout ratio (DPR) is presently 36.00%.

Hedge Funds Weigh In On Colony Bankcorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rothschild Investment LLC purchased a new stake in Colony Bankcorp during the second quarter valued at about $139,000. Ritholtz Wealth Management lifted its position 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 valued at $328,000 after acquiring an additional 2,193 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Colony Bankcorp by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 35,478 shares of the financial services provider’s stock valued at $551,000 after acquiring an additional 1,742 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Colony Bankcorp by 116.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,285 shares of the financial services provider’s stock worth $579,000 after purchasing an additional 20,031 shares during the period. Finally, Panagora Asset Management Inc. grew its position in 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 worth $598,000 after purchasing an additional 7,885 shares in the last quarter. Institutional investors and hedge funds own 50.37% of the company’s stock.

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.