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 Thursday.

Colony Bankcorp Stock Down 4.6 %

CBAN opened at $14.66 on Thursday. Colony Bankcorp has a 1 year low of $10.33 and a 1 year high of $18.49. The firm has a 50 day moving average price of $16.77 and a 200 day moving average price of $15.23. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.80 and a current ratio of 0.81. The company has a market cap of $256.95 million, a PE ratio of 11.73 and a beta of 0.62.

Colony Bankcorp (NASDAQ:CBAN) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.35 earnings per share (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 company had revenue of $44.69 million during the quarter, compared to analyst estimates of $28.67 million. During the same quarter in the prior year, the business earned $0.34 earnings per share. Sell-side analysts expect that Colony Bankcorp will post 1.38 earnings per share for the current year.

Colony Bankcorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th were issued a $0.112 dividend. This represents a $0.45 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Wednesday, November 6th. Colony Bankcorp’s dividend payout ratio is presently 36.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CBAN. JPMorgan Chase & Co. increased its stake in Colony Bankcorp by 137.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,103 shares of the financial services provider’s stock worth $436,000 after buying an additional 16,246 shares during the period. Empowered Funds LLC grew its stake in Colony Bankcorp by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 35,478 shares of the financial services provider’s stock valued at $551,000 after purchasing an additional 1,742 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Colony Bankcorp by 116.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,285 shares of the financial services provider’s stock valued at $579,000 after purchasing an additional 20,031 shares in the last quarter. Ritholtz Wealth Management raised its position in shares of Colony Bankcorp by 40.0% in the 3rd quarter. Ritholtz Wealth Management now owns 37,452 shares of the financial services provider’s stock valued at $581,000 after purchasing an additional 10,699 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Colony Bankcorp by 15.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 58,044 shares of the financial services provider’s stock valued at $711,000 after buying an additional 7,726 shares during the last quarter. 50.37% of the stock is owned by institutional investors and hedge funds.

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.