Colony Bankcorp (NASDAQ:CBAN) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Colony Bankcorp (NASDAQ:CBAN) from a buy rating to a hold rating in a report issued on Wednesday morning.

Colony Bankcorp Stock Down 0.7 %

Shares of NASDAQ CBAN opened at $14.73 on Wednesday. Colony Bankcorp has a 52-week low of $9.35 and a 52-week high of $15.80. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.78 and a current ratio of 0.80. The business has a fifty day moving average of $13.87 and a two-hundred day moving average of $12.20. The stock has a market cap of $258.64 million, a PE ratio of 11.78 and a beta of 0.57.

Colony Bankcorp (NASDAQ:CBAN) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $42.83 million during the quarter, compared to analysts’ expectations of $28.97 million. Colony Bankcorp had a net margin of 13.03% and a return on equity of 9.09%. During the same quarter last year, the company posted $0.33 EPS. As a group, equities research analysts expect that Colony Bankcorp will post 1.33 earnings per share for the current fiscal year.

Colony Bankcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th were issued a $0.112 dividend. This represents a $0.45 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Wednesday, August 7th. Colony Bankcorp’s payout ratio is currently 36.00%.

Institutional Trading of Colony Bankcorp

Several large investors have recently made changes to their positions in CBAN. New York State Common Retirement Fund raised its holdings in shares of Colony Bankcorp by 725.7% in the fourth quarter. New York State Common Retirement Fund now owns 7,737 shares of the financial services provider’s stock valued at $103,000 after buying an additional 6,800 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Colony Bankcorp during the first quarter worth approximately $123,000. Rothschild Investment LLC bought a new stake in shares of Colony Bankcorp during the second quarter valued at approximately $139,000. BNP Paribas Financial Markets raised its position in Colony Bankcorp by 42.1% in the 4th quarter. BNP Paribas Financial Markets now owns 24,506 shares of the financial services provider’s stock worth $326,000 after purchasing an additional 7,261 shares during the last quarter. Finally, Ritholtz Wealth Management raised its position in shares of 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 during the last quarter. Institutional investors own 50.37% of the company’s stock.

Colony Bankcorp Company Profile

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.