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 note published on Tuesday.

Colony Bankcorp Price Performance

Shares of CBAN opened at $17.09 on Tuesday. The company has a 50 day moving average price of $15.51 and a 200-day moving average price of $13.75. Colony Bankcorp has a fifty-two week low of $10.33 and a fifty-two week high of $18.03. The stock has a market capitalization of $299.59 million, a PE ratio of 13.67 and a beta of 0.57. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.81.

Colony Bankcorp (NASDAQ:CBAN) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.35 earnings per share 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 firm had revenue of $44.69 million during the quarter, compared to analysts’ expectations of $28.67 million. During the same quarter in the prior year, the company earned $0.34 EPS. Equities analysts predict that Colony Bankcorp will post 1.33 earnings per share for the current fiscal year.

Colony Bankcorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th will be given a $0.112 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.45 annualized dividend and a dividend yield of 2.62%. Colony Bankcorp’s payout ratio is presently 36.00%.

Institutional Investors Weigh In On Colony Bankcorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd purchased a new stake in Colony Bankcorp during the first quarter valued at approximately $123,000. Rothschild Investment LLC purchased a new stake in Colony Bankcorp during the second quarter valued at approximately $139,000. Ritholtz Wealth Management lifted its position in Colony Bankcorp by 8.9% during the second 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 during the last quarter. Empowered Funds LLC lifted its position in Colony Bankcorp by 7.8% during the first 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. Finally, BNP Paribas Financial Markets lifted its position in Colony Bankcorp by 47.9% during the first quarter. BNP Paribas Financial Markets now owns 36,252 shares of the financial services provider’s stock valued at $417,000 after acquiring an additional 11,746 shares during the last quarter. Hedge funds and other institutional investors 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.