Colony Bankcorp (NASDAQ:CBAN) Lowered to “Hold” Rating by StockNews.com

Colony Bankcorp (NASDAQ:CBAN) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Colony Bankcorp Price Performance

Shares of Colony Bankcorp stock traded down $0.95 on Wednesday, hitting $16.22. The company’s stock had a trading volume of 54,716 shares, compared to its average volume of 41,043. The company has a market capitalization of $284.29 million, a P/E ratio of 12.98 and a beta of 0.61. Colony Bankcorp has a 52-week low of $10.33 and a 52-week high of $18.49. The firm has a fifty day moving average price of $16.57 and a 200-day moving average price of $14.73. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.90.

Colony Bankcorp (NASDAQ:CBAN) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Colony Bankcorp had a net margin of 12.75% and a return on equity of 8.86%. The company had revenue of $44.69 million for the quarter, compared to the consensus estimate of $28.67 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. On average, equities research analysts expect that Colony Bankcorp will post 1.38 earnings per share for the current fiscal year.

Institutional Trading of Colony Bankcorp

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in shares of Colony Bankcorp by 15.4% during the second quarter. Bank of New York Mellon Corp now owns 58,044 shares of the financial services provider’s stock worth $711,000 after buying an additional 7,726 shares in the last quarter. Panagora Asset Management Inc. grew its position in shares of Colony Bankcorp by 19.3% in the second quarter. Panagora Asset Management Inc. now owns 48,782 shares of the financial services provider’s stock valued at $598,000 after purchasing an additional 7,885 shares during the period. Rothschild Investment LLC acquired a new position in Colony Bankcorp in the second quarter valued at $139,000. Ritholtz Wealth Management lifted its position in Colony Bankcorp by 8.9% during the second quarter. Ritholtz Wealth Management now owns 26,753 shares of the financial services provider’s stock worth $328,000 after buying an additional 2,193 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Colony Bankcorp by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 508,394 shares of the financial services provider’s stock worth $6,228,000 after buying an additional 38,457 shares during the last quarter. 50.37% of the stock is currently owned by hedge funds and other institutional investors.

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.