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 report published on Thursday.

Colony Bankcorp Stock Performance

Shares of NASDAQ CBAN opened at $17.62 on Thursday. The firm has a fifty day moving average price of $15.90 and a 200-day moving average price of $14.15. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market cap of $308.88 million, a PE ratio of 14.10 and a beta of 0.57. Colony Bankcorp has a 1 year low of $10.33 and a 1 year high of $18.42.

Colony Bankcorp (NASDAQ:CBAN) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $44.69 million during the quarter, compared to analysts’ expectations of $28.67 million. Colony Bankcorp had a net margin of 12.75% and a return on equity of 8.86%. During the same period in the prior year, the company posted $0.34 earnings per share. Equities analysts anticipate that Colony Bankcorp will post 1.38 earnings per share for the current fiscal year.

Colony Bankcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th were paid a $0.112 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 2.54%. Colony Bankcorp’s dividend payout ratio (DPR) is presently 36.00%.

Hedge Funds Weigh In On Colony Bankcorp

Several institutional investors have recently bought and sold shares of CBAN. Vanguard Group Inc. grew its stake in Colony Bankcorp by 0.8% during the first quarter. Vanguard Group Inc. now owns 918,020 shares of the financial services provider’s stock valued at $10,557,000 after acquiring an additional 6,891 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Colony Bankcorp during the first quarter valued at $123,000. Bank of New York Mellon Corp grew its stake in 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 valued at $711,000 after acquiring an additional 7,726 shares in the last quarter. Panagora Asset Management Inc. grew its stake in Colony Bankcorp by 19.3% during the second quarter. Panagora Asset Management Inc. now owns 48,782 shares of the financial services provider’s stock valued at $598,000 after acquiring an additional 7,885 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new position in Colony Bankcorp during the second quarter valued at $139,000. 50.37% of the stock is owned by hedge funds and other institutional investors.

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.