Colony Bankcorp (NYSE:CBAN) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Colony Bankcorp (NYSE:CBAN) posted its quarterly earnings data on Wednesday. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04, FiscalAI reports. The firm had revenue of $42.03 million for the quarter, compared to analyst estimates of $40.90 million. Colony Bankcorp had a net margin of 14.83% and a return on equity of 10.23%.

Colony Bankcorp Price Performance

CBAN stock traded down $0.29 on Wednesday, reaching $20.56. 228,552 shares of the company’s stock were exchanged, compared to its average volume of 244,818. The stock has a fifty day moving average of $20.22 and a 200-day moving average of $19.91. The firm has a market cap of $435.05 million, a PE ratio of 12.85 and a beta of 0.56. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.68. Colony Bankcorp has a twelve month low of $15.80 and a twelve month high of $21.61.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CBAN shares. Hovde Group upped their price objective on shares of Colony Bankcorp from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Wall Street Zen downgraded 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. Finally, Zacks Research raised shares of Colony Bankcorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $23.00.

Hedge Funds Weigh In On Colony Bankcorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new position in shares of Colony Bankcorp in the 3rd quarter valued at about $44,000. BNP Paribas Financial Markets boosted 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 worth $57,000 after buying an additional 969 shares in the last quarter. Russell Investments Group Ltd. grew its position in Colony Bankcorp by 83.0% during the third quarter. Russell Investments Group Ltd. now owns 3,593 shares of the company’s stock worth $61,000 after buying an additional 1,630 shares during the period. Thrivent Financial for Lutherans acquired a new position in Colony Bankcorp during the second quarter worth about $203,000. Finally, Jump Financial LLC increased its holdings in Colony Bankcorp by 35.9% in the second quarter. Jump Financial LLC now owns 14,187 shares of the company’s stock valued at $234,000 after buying an additional 3,750 shares in the last quarter. 50.37% of the stock is owned by institutional investors and hedge funds.

About Colony Bankcorp

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.