Colony Bankcorp (NASDAQ:CBAN) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Colony Bankcorp (NASDAQ:CBAN) from a hold rating to a buy rating in a research report sent to investors on Thursday.

Colony Bankcorp Price Performance

Shares of NASDAQ:CBAN opened at $15.30 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.90. The stock has a market cap of $268.16 million, a PE ratio of 12.24 and a beta of 0.62. The stock’s fifty day simple moving average is $16.78 and its two-hundred day simple moving average is $15.19. Colony Bankcorp has a 1-year low of $10.33 and a 1-year high of $18.49.

Colony Bankcorp (NASDAQ:CBAN) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $28.67 million. During the same period last year, the firm earned $0.34 earnings per share. As a group, analysts forecast that Colony Bankcorp will post 1.38 EPS for the current fiscal year.

Colony Bankcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors 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 2.93%. The ex-dividend date was Wednesday, November 6th. Colony Bankcorp’s payout ratio is 36.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position in shares of Colony Bankcorp by 137.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,103 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 16,246 shares during the last quarter. Barclays PLC increased its holdings in Colony Bankcorp by 49.5% during the third quarter. Barclays PLC now owns 54,484 shares of the financial services provider’s stock worth $845,000 after buying an additional 18,048 shares during the last quarter. Geode Capital Management LLC raised its position in Colony Bankcorp by 2.2% in the third quarter. Geode Capital Management LLC now owns 363,547 shares of the financial services provider’s stock worth $5,643,000 after acquiring an additional 7,740 shares during the period. State Street Corp boosted its stake in Colony Bankcorp by 7.6% in the third quarter. State Street Corp now owns 253,507 shares of the financial services provider’s stock valued at $3,934,000 after acquiring an additional 17,865 shares during the last quarter. Finally, Martingale Asset Management L P grew its position in shares of Colony Bankcorp by 38.2% during the 3rd quarter. Martingale Asset Management L P now owns 47,490 shares of the financial services provider’s stock valued at $737,000 after acquiring an additional 13,119 shares during the period. 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.