Colony Bankcorp (NYSE:CBAN) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Colony Bankcorp (NYSE:CBAN) from a buy rating to a hold rating in a research report report published on Saturday morning.

CBAN has been the subject of a number of other reports. Hovde Group increased their price objective on shares of Colony Bankcorp from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Zacks Research raised Colony Bankcorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings upgraded Colony Bankcorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat, Colony Bankcorp currently has an average rating of “Buy” and an average target price of $23.00.

Colony Bankcorp Price Performance

Shares of CBAN opened at $21.98 on Friday. The stock has a market capitalization of $465.18 million, a P/E ratio of 13.32 and a beta of 0.55. Colony Bankcorp has a twelve month low of $15.80 and a twelve month high of $22.40. The company has a 50 day moving average of $20.79 and a 200-day moving average of $20.23. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.60.

Colony Bankcorp (NYSE:CBAN) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. Colony Bankcorp had a net margin of 15.42% and a return on equity of 10.40%. The company had revenue of $42.03 million for the quarter, compared to the consensus estimate of $40.90 million. As a group, equities research analysts forecast that Colony Bankcorp will post 1.92 EPS for the current fiscal year.

Colony Bankcorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, August 5th. This represents a $0.48 annualized dividend and a yield of 2.2%. Colony Bankcorp’s dividend payout ratio (DPR) is 29.09%.

Insider Activity

In other news, insider Edward G. Canup acquired 2,000 shares of Colony Bankcorp stock in a transaction dated Thursday, July 30th. The stock was bought at an average price of $21.80 per share, for a total transaction of $43,600.00. Following the completion of the acquisition, the insider directly owned 36,702 shares in the company, valued at approximately $800,103.60. The trade was a 5.76% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Colony Bankcorp

Several institutional investors have recently added to or reduced their stakes in CBAN. Public Employees Retirement System of Ohio acquired a new position in Colony Bankcorp in the 3rd quarter valued at $44,000. BNP Paribas Financial Markets lifted its holdings in shares of Colony Bankcorp by 38.4% during the second quarter. BNP Paribas Financial Markets now owns 3,491 shares of the company’s stock worth $57,000 after buying an additional 969 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Colony Bankcorp by 83.0% in the third quarter. Russell Investments Group Ltd. now owns 3,593 shares of the company’s stock valued at $61,000 after acquiring an additional 1,630 shares during the period. 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 valued at $80,000 after acquiring an additional 1,494 shares during the period. Finally, NewEdge Advisors LLC acquired a new position in shares of Colony Bankcorp in the first quarter valued at about $89,000. 50.37% of the stock is currently owned by institutional investors.

About Colony Bankcorp

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.