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 report issued on Saturday morning.

Colony Bankcorp Stock Down 1.1 %

Shares of NASDAQ CBAN opened at $17.39 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.80. The company has a 50-day moving average price of $16.26 and a 200-day moving average price of $14.49. The stock has a market capitalization of $304.85 million, a P/E ratio of 13.91 and a beta of 0.61. Colony Bankcorp has a 1 year low of $10.33 and a 1 year high of $18.49.

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

Colony Bankcorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders 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 yield of 2.58%. The ex-dividend date of this dividend was Wednesday, November 6th. Colony Bankcorp’s payout ratio is currently 36.00%.

Hedge Funds Weigh In On Colony Bankcorp

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Colony Bankcorp by 0.8% during the first quarter. Vanguard Group Inc. now owns 918,020 shares of the financial services provider’s stock valued at $10,557,000 after purchasing an additional 6,891 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Colony Bankcorp by 15.4% in the 2nd 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. boosted its holdings in shares of Colony Bankcorp by 19.3% in the second quarter. Panagora Asset Management Inc. now owns 48,782 shares of the financial services provider’s stock valued at $598,000 after purchasing an additional 7,885 shares during the period. Rothschild Investment LLC purchased a new position in shares of Colony Bankcorp during the second quarter valued at $139,000. Finally, Ritholtz Wealth Management increased its position in Colony Bankcorp by 8.9% during the 2nd quarter. Ritholtz Wealth Management now owns 26,753 shares of the financial services provider’s stock valued at $328,000 after purchasing an additional 2,193 shares during the period. 50.37% of the stock is currently owned by institutional investors.

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.