Colony Bankcorp (NASDAQ:CBAN) Downgraded by StockNews.com

StockNews.com lowered shares of Colony Bankcorp (NASDAQ:CBAN) from a buy rating to a hold rating in a report released on Tuesday morning.

Colony Bankcorp Stock Performance

NASDAQ CBAN opened at $11.85 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.84. The company has a fifty day simple moving average of $11.13 and a 200 day simple moving average of $11.54. Colony Bankcorp has a 12-month low of $9.03 and a 12-month high of $13.58. The company has a market cap of $208.09 million, a P/E ratio of 9.48 and a beta of 0.54.

Colony Bankcorp (NASDAQ:CBAN) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.33 earnings per share for the quarter. Colony Bankcorp had a return on equity of 9.22% and a net margin of 13.17%. The company had revenue of $28.14 million for the quarter. Sell-side analysts predict that Colony Bankcorp will post 1.31 earnings per share for the current fiscal year.

Colony Bankcorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were issued a $0.112 dividend. This represents a $0.45 annualized dividend and a dividend yield of 3.78%. The ex-dividend date was Tuesday, May 7th. Colony Bankcorp’s dividend payout ratio is presently 36.00%.

Institutional Investors Weigh In On Colony Bankcorp

Hedge funds have recently modified their holdings of the stock. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Colony Bankcorp during the 4th quarter valued at $45,000. New York State Common Retirement Fund boosted its holdings in Colony Bankcorp by 725.7% in the 4th quarter. New York State Common Retirement Fund now owns 7,737 shares of the financial services provider’s stock worth $103,000 after buying an additional 6,800 shares during the period. SG Americas Securities LLC purchased a new position in shares of Colony Bankcorp in the fourth quarter valued at $119,000. Quadrature Capital Ltd bought a new stake in shares of Colony Bankcorp during the first quarter valued at about $123,000. Finally, Panagora Asset Management Inc. purchased a new stake in Colony Bankcorp in the 3rd quarter worth approximately $133,000. Institutional investors own 50.37% of the company’s stock.

About Colony Bankcorp

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.