Colony Bankcorp (NYSE:CBAN) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Colony Bankcorp (NYSE:CBAN) from a hold rating to a buy rating in a report published on Saturday morning.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings upgraded shares of Colony Bankcorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, May 15th. Hovde Group upped their price target on Colony Bankcorp from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Zacks Research upgraded Colony Bankcorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $23.00.

Colony Bankcorp Stock Performance

Shares of CBAN opened at $21.79 on Friday. 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 52-week low of $15.80 and a 52-week high of $22.06. The company has a 50-day simple moving average of $20.33 and a 200-day simple moving average of $19.97. The company has a market capitalization of $461.06 million, a PE ratio of 13.21 and a beta of 0.56.

Colony Bankcorp (NYSE:CBAN) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Colony Bankcorp had a net margin of 15.42% and a return on equity of 10.67%. The firm had revenue of $42.03 million for the quarter, compared to the consensus estimate of $40.90 million. Equities research analysts predict that Colony Bankcorp will post 1.92 earnings per share for the current fiscal year.

Colony Bankcorp Announces Dividend

The firm also recently disclosed 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. This represents a $0.48 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, August 5th. Colony Bankcorp’s dividend payout ratio is presently 29.09%.

Hedge Funds Weigh In On Colony Bankcorp

Several hedge funds have recently added to or reduced their stakes in the business. Man Group plc lifted its stake in Colony Bankcorp by 4.9% in the 4th quarter. Man Group plc now owns 18,793 shares of the company’s stock valued at $335,000 after buying an additional 874 shares in the last quarter. BNP Paribas Financial Markets increased its position 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. PNC Financial Services Group Inc. raised its holdings in shares of Colony Bankcorp by 15.2% in the first quarter. PNC Financial Services Group Inc. now owns 8,694 shares of the company’s stock worth $174,000 after acquiring an additional 1,146 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Colony Bankcorp by 4.9% in the second quarter. Hsbc Holdings PLC now owns 29,374 shares of the company’s stock worth $484,000 after acquiring an additional 1,374 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Colony Bankcorp by 49.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,500 shares of the company’s stock valued at $80,000 after acquiring an additional 1,494 shares in the last quarter. 50.37% of the stock is currently 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.