Colony Bankcorp (NYSE:CBAN) Posts Earnings Results, Beats Estimates By $0.04 EPS

Colony Bankcorp (NYSE:CBAN) posted its quarterly earnings results on Wednesday. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04, FiscalAI reports. The business had revenue of $42.03 million during the quarter, compared to analyst estimates of $40.90 million. Colony Bankcorp had a net margin of 15.42% and a return on equity of 10.67%.

Colony Bankcorp Trading Up 4.7%

NYSE:CBAN opened at $21.52 on Friday. The stock’s 50 day moving average price is $20.28 and its 200 day moving average price is $19.95. Colony Bankcorp has a 52 week low of $15.80 and a 52 week high of $21.61. The company has a market capitalization of $455.32 million, a P/E ratio of 13.04 and a beta of 0.56. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.88 and a current ratio of 0.89.

Colony Bankcorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.48 annualized dividend and a dividend yield of 2.2%. Colony Bankcorp’s payout ratio is presently 30.00%.

Analyst Ratings Changes

Several research analysts have weighed in on CBAN shares. Wall Street Zen lowered shares of Colony Bankcorp from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. Weiss Ratings raised 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 target price on shares of Colony Bankcorp from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Zacks Research upgraded 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 MarketBeat.com, Colony Bankcorp has an average rating of “Buy” and a consensus price target of $23.00.

Institutional Trading of Colony Bankcorp

Large investors have recently added to or reduced their stakes in the business. Invesco Ltd. increased its stake in shares of Colony Bankcorp by 17.4% during the 4th quarter. Invesco Ltd. now owns 20,463 shares of the company’s stock worth $365,000 after purchasing an additional 3,036 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Colony Bankcorp by 27.8% in the 4th quarter. Mackenzie Financial Corp now owns 97,858 shares of the company’s stock valued at $1,746,000 after purchasing an additional 21,307 shares during the last quarter. Empowered Funds LLC boosted its holdings in Colony Bankcorp by 13.0% in the fourth quarter. Empowered Funds LLC now owns 67,396 shares of the company’s stock worth $1,201,000 after purchasing an additional 7,775 shares in the last quarter. Man Group plc boosted its holdings in Colony Bankcorp by 4.9% in the fourth quarter. Man Group plc now owns 18,793 shares of the company’s stock worth $335,000 after purchasing an additional 874 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its position in Colony Bankcorp by 4.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 146,059 shares of the company’s stock worth $2,603,000 after buying an additional 6,352 shares during the last quarter. 50.37% of the stock is owned by institutional investors.

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.