Colony Bankcorp (NASDAQ:CBAN) Cut to Hold at StockNews.com

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

Colony Bankcorp Stock Down 0.7 %

Shares of NASDAQ CBAN opened at $14.73 on Wednesday. The company has a market cap of $258.64 million, a price-to-earnings ratio of 11.78 and a beta of 0.58. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 1.01. Colony Bankcorp has a 12 month low of $9.35 and a 12 month high of $15.80. The stock has a 50-day moving average price of $13.87 and a two-hundred day moving average price of $12.20.

Colony Bankcorp (NASDAQ:CBAN) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $42.83 million during the quarter, compared to analysts’ expectations of $28.97 million. Colony Bankcorp had a net margin of 13.03% and a return on equity of 9.09%. During the same period in the prior year, the company earned $0.33 EPS. As a group, analysts forecast that Colony Bankcorp will post 1.33 earnings per share for the current fiscal year.

Colony Bankcorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 7th were issued a $0.112 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.45 dividend on an annualized basis and a yield of 3.04%. Colony Bankcorp’s payout ratio is presently 36.00%.

Institutional Trading of Colony Bankcorp

A number of hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund boosted its position in Colony Bankcorp by 725.7% during 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. BNP Paribas Financial Markets grew its stake in shares of Colony Bankcorp by 42.1% in the fourth quarter. BNP Paribas Financial Markets now owns 24,506 shares of the financial services provider’s stock worth $326,000 after purchasing an additional 7,261 shares during the last quarter. Panagora Asset Management Inc. raised its position in Colony Bankcorp by 168.0% during the 4th quarter. Panagora Asset Management Inc. now owns 35,531 shares of the financial services provider’s stock worth $473,000 after purchasing an additional 22,272 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in Colony Bankcorp during the 4th quarter worth about $684,000. Finally, Trexquant Investment LP grew its position in shares of Colony Bankcorp by 31.1% in the 4th quarter. Trexquant Investment LP now owns 27,777 shares of the financial services provider’s stock valued at $369,000 after buying an additional 6,586 shares during the last quarter. 50.37% of the stock is owned by institutional investors and hedge funds.

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.