Wall Street Zen upgraded shares of Colony Bankcorp (NYSE:CBAN – Free Report) from a hold rating to a buy rating in a research note published on Saturday,Wall Street Zen reports.
Several other research analysts also recently issued reports on the company. Weiss Ratings downgraded Colony Bankcorp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Zacks Research cut Colony Bankcorp from a “strong-buy” rating to a “hold” rating in a report on Friday, September 11th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.00.
Check Out Our Latest Report on CBAN
Colony Bankcorp Stock Performance
Colony Bankcorp (NYSE:CBAN – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $42.03 million for the quarter, compared to the consensus estimate of $40.90 million. Colony Bankcorp had a net margin of 15.42% and a return on equity of 10.40%. As a group, research analysts expect that Colony Bankcorp will post 2 earnings per share for the current fiscal year.
Colony Bankcorp Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, August 5th. Colony Bankcorp’s payout ratio is presently 29.09%.
Insiders Place Their Bets
In other Colony Bankcorp news, insider Edward Canup purchased 2,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was bought at an average cost of $21.62 per share, for a total transaction of $43,240.00. Following the acquisition, the insider owned 39,702 shares of the company’s stock, valued at approximately $858,357.24. The trade was a 5.30% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders acquired 7,000 shares of company stock valued at $151,290. Insiders own 3.92% of the company’s stock.
Institutional Trading of Colony Bankcorp
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc acquired a new position in shares of Colony Bankcorp during the 2nd quarter valued at about $42,000. Rockefeller Capital Management L.P. boosted its position in shares of Colony Bankcorp by 49.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,500 shares of the company’s stock worth $80,000 after acquiring an additional 1,494 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in Colony Bankcorp in the first quarter valued at approximately $89,000. Versant Capital Management Inc grew its holdings in Colony Bankcorp by 762.5% in the second quarter. Versant Capital Management Inc now owns 5,175 shares of the company’s stock valued at $104,000 after purchasing an additional 4,575 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Colony Bankcorp during the first quarter worth approximately $106,000. Hedge funds and other institutional investors own 50.37% of the company’s stock.
About Colony Bankcorp
Colony Bankcorp, Inc is a bank holding company headquartered in Fitzgerald, Georgia. Through its principal subsidiary, Colony Bank, the company provides community banking services to individuals, families, businesses and institutions.
Colony Bank offers deposit products, residential and commercial real estate lending, consumer loans, commercial and industrial financing, agricultural loans, treasury management and other business banking services. The company also provides mortgage banking and wealth management services, including investment and financial planning solutions.
Colony Bank serves customers through a network of banking offices and digital banking channels in Georgia and Alabama.
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