Colony Bankcorp (NASDAQ:CBAN) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Colony Bankcorp (NASDAQ:CBAN) from a hold rating to a buy rating in a research report sent to investors on Thursday.

Colony Bankcorp Trading Up 0.1 %

NASDAQ CBAN opened at $17.63 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.80 and a current ratio of 0.81. Colony Bankcorp has a fifty-two week low of $10.33 and a fifty-two week high of $18.49. The stock has a market cap of $309.05 million, a P/E ratio of 14.10 and a beta of 0.57. The stock has a 50 day simple moving average of $15.98 and a two-hundred day simple moving average of $14.23.

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

Colony Bankcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th were given a dividend of $0.112 per share. The ex-dividend date was Wednesday, November 6th. This represents a $0.45 annualized dividend and a yield of 2.54%. Colony Bankcorp’s payout ratio is 36.00%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CBAN. Quadrature Capital Ltd bought a new position in Colony Bankcorp in the first quarter worth $123,000. Rothschild Investment LLC purchased a new position in Colony Bankcorp during the 2nd quarter valued at about $139,000. Ritholtz Wealth Management boosted its stake 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 acquiring an additional 2,193 shares in the last quarter. Empowered Funds LLC grew its holdings in Colony Bankcorp by 5.2% in the third quarter. Empowered Funds LLC now owns 35,478 shares of the financial services provider’s stock worth $551,000 after purchasing an additional 1,742 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Colony Bankcorp by 116.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,285 shares of the financial services provider’s stock valued at $579,000 after purchasing an additional 20,031 shares in the last quarter. Institutional investors own 50.37% of the company’s stock.

About Colony Bankcorp

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.