Edward Canup Purchases 2,000 Shares of Colony Bankcorp (NYSE:CBAN) Stock

Colony Bankcorp, Inc. (NYSE:CBAN) insider Edward Canup purchased 2,000 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were purchased at an average cost of $21.62 per share, for a total transaction of $43,240.00. Following the purchase, the insider directly owned 39,702 shares of the company’s stock, valued at $858,357.24. This trade represents a 5.30% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Colony Bankcorp Price Performance

Colony Bankcorp stock opened at $21.47 on Friday. The business’s 50-day simple moving average is $21.10 and its 200 day simple moving average is $20.44. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.60. The stock has a market cap of $455.59 million, a price-to-earnings ratio of 13.01 and a beta of 0.55. Colony Bankcorp, Inc. has a 12-month low of $15.80 and a 12-month high of $22.46.

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

Colony Bankcorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 5th. This represents a $0.48 annualized dividend and a dividend yield of 2.2%. Colony Bankcorp’s payout ratio is currently 29.09%.

Hedge Funds Weigh In On Colony Bankcorp

Several institutional investors have recently modified their holdings of the stock. Legal & General Group Plc acquired a new stake in shares of Colony Bankcorp in the 2nd quarter valued at approximately $42,000. Public Employees Retirement System of Ohio bought a new position in Colony Bankcorp during the 3rd quarter worth approximately $44,000. BNP Paribas Financial Markets grew its holdings in Colony Bankcorp by 38.4% during the second quarter. BNP Paribas Financial Markets now owns 3,491 shares of the company’s stock valued at $57,000 after purchasing an additional 969 shares during the period. Russell Investments Group Ltd. grew its holdings in Colony Bankcorp by 83.0% during the third quarter. Russell Investments Group Ltd. now owns 3,593 shares of the company’s stock valued at $61,000 after purchasing an additional 1,630 shares during the period. Finally, Rockefeller Capital Management L.P. increased its stake in 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 purchasing an additional 1,494 shares in the last quarter. 50.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CBAN has been the topic of several analyst reports. Hovde Group increased their price objective on shares of Colony Bankcorp from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Weiss Ratings lowered shares of Colony Bankcorp from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Zacks Research upgraded shares of Colony Bankcorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen downgraded Colony Bankcorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat, Colony Bankcorp has a consensus rating of “Buy” and a consensus target price of $23.00.

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.