Colony Bankcorp (NYSE:CBAN) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Colony Bankcorp (NYSE:CBAN) from a hold rating to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

Several other equities research analysts have also commented on the stock. Wall Street Zen lowered shares of Colony Bankcorp from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Weiss Ratings upgraded shares of Colony Bankcorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, May 15th. Hovde Group lifted 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. Finally, Brean Capital raised shares of Colony Bankcorp from a “neutral” rating to a “buy” rating in a research note on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $23.00.

Colony Bankcorp Stock Performance

Shares of Colony Bankcorp stock opened at $20.48 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.68. The stock’s fifty day moving average price is $20.11 and its 200-day moving average price is $19.82. The firm has a market cap of $433.46 million, a P/E ratio of 12.80 and a beta of 0.56. Colony Bankcorp has a 12 month low of $15.80 and a 12 month high of $21.61.

Colony Bankcorp (NYSE:CBAN) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. Colony Bankcorp had a net margin of 14.83% and a return on equity of 10.23%. The company had revenue of $39.90 million during the quarter, compared to analyst estimates of $42.10 million. On average, equities research analysts expect that Colony Bankcorp will post 1.92 earnings per share for the current fiscal year.

Colony Bankcorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.3%. The ex-dividend date was Wednesday, May 6th. Colony Bankcorp’s payout ratio is 30.00%.

Institutional Trading of Colony Bankcorp

Several hedge funds have recently modified their holdings of CBAN. Allen Mooney & Barnes Investment Advisors LLC purchased a new position in shares of Colony Bankcorp in the 4th quarter worth approximately $1,006,000. Thomasville National Bank purchased a new stake in Colony Bankcorp during the fourth quarter valued at approximately $1,015,000. Oppenheimer & Close LLC acquired a new stake in Colony Bankcorp in the fourth quarter valued at approximately $958,000. Nicholas Hoffman & Company LLC. acquired a new stake in Colony Bankcorp in the first quarter valued at approximately $1,068,000. Finally, PNC Financial Services Group Inc. boosted its stake in Colony Bankcorp by 15.2% in the first quarter. PNC Financial Services Group Inc. now owns 8,694 shares of the company’s stock valued at $174,000 after acquiring an additional 1,146 shares in the last quarter. 50.37% of the stock is owned by hedge funds and other institutional investors.

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.