Bank of New York Mellon Corp Buys 7,726 Shares of Colony Bankcorp, Inc. (NASDAQ:CBAN)

Bank of New York Mellon Corp raised its stake in shares of Colony Bankcorp, Inc. (NASDAQ:CBAN) by 15.4% in the 2nd quarter, Holdings Channel reports. The firm owned 58,044 shares of the financial services provider’s stock after acquiring an additional 7,726 shares during the period. Bank of New York Mellon Corp’s holdings in Colony Bankcorp were worth $711,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Quadrature Capital Ltd bought a new position in shares of Colony Bankcorp during the 1st quarter valued at about $123,000. O Shaughnessy Asset Management LLC lifted its holdings in shares of Colony Bankcorp by 44.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 44,589 shares of the financial services provider’s stock valued at $513,000 after acquiring an additional 13,701 shares during the last quarter. Hillsdale Investment Management Inc. lifted its holdings in shares of Colony Bankcorp by 8.9% in the 1st quarter. Hillsdale Investment Management Inc. now owns 56,057 shares of the financial services provider’s stock valued at $645,000 after acquiring an additional 4,600 shares during the last quarter. 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 acquiring an additional 6,891 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Colony Bankcorp by 7.8% in the 1st quarter. Empowered Funds LLC now owns 31,396 shares of the financial services provider’s stock valued at $361,000 after acquiring an additional 2,275 shares during the last quarter. Institutional investors own 50.37% of the company’s stock.

Colony Bankcorp Price Performance

NASDAQ CBAN opened at $15.53 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.78 and a current ratio of 0.80. The firm’s 50 day moving average price is $14.44 and its 200-day moving average price is $12.50. Colony Bankcorp, Inc. has a 52-week low of $9.35 and a 52-week high of $15.96. The company has a market cap of $272.69 million, a PE ratio of 12.42 and a beta of 0.57.

Colony Bankcorp (NASDAQ:CBAN) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $42.83 million for the quarter, compared to the consensus estimate 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 last year, the firm earned $0.33 earnings per share. Sell-side analysts forecast that Colony Bankcorp, Inc. will post 1.33 EPS for the current fiscal year.

Colony Bankcorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.112 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.45 annualized dividend and a dividend yield of 2.88%. Colony Bankcorp’s payout ratio is currently 36.00%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Colony Bankcorp from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th.

Colony Bankcorp 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.