Colony Bankcorp (NYSE:CBAN) Stock Rating Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Colony Bankcorp (NYSE:CBAN) from a hold rating to a buy rating in a report released on Saturday,Wall Street Zen reports.

Several other analysts have also recently weighed in on CBAN. Weiss Ratings cut shares of Colony Bankcorp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Zacks Research lowered Colony Bankcorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 11th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Colony Bankcorp currently has an average rating of “Moderate Buy” and an average price target of $23.00.

Colony Bankcorp Stock Down 0.3%

NYSE:CBAN opened at $20.69 on Friday. The firm’s 50 day simple moving average is $21.45 and its 200 day simple moving average is $20.58. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.88 and a quick ratio of 0.88. Colony Bankcorp has a one year low of $15.80 and a one year high of $22.46. The company has a market cap of $439.02 million, a PE ratio of 12.54 and a beta of 0.54.

Colony Bankcorp (NYSE:CBAN) 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 firm had revenue of $42.03 million during the quarter, compared to analysts’ expectations of $40.90 million. Colony Bankcorp had a net margin of 15.42% and a return on equity of 10.40%. On average, research analysts anticipate that Colony Bankcorp will post 2 earnings per share for the current year.

Colony Bankcorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $0.48 annualized dividend and a dividend yield of 2.3%. Colony Bankcorp’s dividend payout ratio (DPR) is 29.09%.

Insider Activity at Colony Bankcorp

In other Colony Bankcorp news, insider Edward Canup bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were bought at an average price of $21.62 per share, for a total transaction of $43,240.00. Following the transaction, the insider directly owned 39,702 shares in the company, valued at approximately $858,357.24. This trade represents a 5.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders bought 7,000 shares of company stock worth $151,290. 3.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Colony Bankcorp

Several institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc acquired a new stake in shares of Colony Bankcorp during the 2nd quarter worth approximately $42,000. Rockefeller Capital Management L.P. lifted its position in shares of Colony Bankcorp by 49.7% during the 4th 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. NewEdge Advisors LLC acquired a new position in shares of Colony Bankcorp during the 1st quarter valued at $89,000. Versant Capital Management Inc boosted its stake in Colony Bankcorp by 762.5% during the second quarter. Versant Capital Management Inc now owns 5,175 shares of the company’s stock worth $104,000 after acquiring an additional 4,575 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Colony Bankcorp during the first quarter worth $106,000. 50.37% of the stock is owned by institutional investors and hedge funds.

Colony Bankcorp Company Profile

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.