Colony Bankcorp, Inc. (NYSE:CBAN – Get Free Report)’s share price traded down 6.3% on Thursday . The stock traded as low as $19.83 and last traded at $19.95. 1,047,286 shares were traded during mid-day trading, an increase of 281% from the average session volume of 274,623 shares. The stock had previously closed at $21.28.
Wall Street Analysts Forecast Growth
CBAN has been the topic of a number of recent research reports. Zacks Research cut Colony Bankcorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Wall Street Zen cut Colony Bankcorp from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Hovde Group increased their target price on Colony Bankcorp from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Brean Capital upgraded Colony Bankcorp from a “neutral” rating to a “buy” rating in a research report on Monday, March 23rd. Finally, Weiss Ratings upgraded Colony Bankcorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, May 15th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.00.
Check Out Our Latest Research Report on CBAN
Colony Bankcorp Trading Up 1.8%
Colony Bankcorp (NYSE:CBAN – Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. The firm had revenue of $39.90 million for the quarter, compared to analyst estimates of $42.10 million. Colony Bankcorp had a return on equity of 10.23% and a net margin of 14.83%. As a group, equities research analysts expect that Colony Bankcorp, Inc. will post 1.91 earnings per share for the current fiscal year.
Colony Bankcorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, May 6th. Colony Bankcorp’s payout ratio is presently 30.00%.
Institutional Investors Weigh In On Colony Bankcorp
Several institutional investors and hedge funds have recently modified their holdings of the stock. Allen Mooney & Barnes Investment Advisors LLC bought a new position in Colony Bankcorp in the fourth quarter worth about $1,006,000. Thomasville National Bank bought a new stake in Colony Bankcorp during the 4th quarter valued at approximately $1,015,000. Segall Bryant & Hamill LLC purchased a new position in shares of Colony Bankcorp during the 3rd quarter worth approximately $1,583,000. Oppenheimer & Close LLC purchased a new position in shares of Colony Bankcorp during the 4th quarter worth approximately $958,000. Finally, Empowered Funds LLC raised its position in shares of Colony Bankcorp by 13.0% in the 4th quarter. Empowered Funds LLC now owns 67,396 shares of the company’s stock worth $1,201,000 after acquiring an additional 7,775 shares in the last quarter. 50.37% of the stock is owned by hedge funds and other institutional investors.
Colony Bankcorp Company Profile
Colony Bankcorp, Inc is a bank holding company headquartered in Baxley, Georgia, that operates through its primary subsidiary, The Colony Bank. The company’s core focus is on delivering community banking services tailored to individuals, small businesses and agricultural customers throughout Georgia and Florida. Colony Bankcorp’s structure supports a full suite of deposit and lending solutions designed to meet the needs of local markets.
The company offers a range of deposit products, including personal and business checking accounts, savings and money market accounts, and certificates of deposit.
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