Colony Bankcorp (NASDAQ:CBAN) Stock Rating Lowered by StockNews.com

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

Colony Bankcorp Price Performance

Colony Bankcorp stock opened at $16.22 on Wednesday. The company has a market cap of $284.29 million, a P/E ratio of 12.98 and a beta of 0.61. Colony Bankcorp has a one year low of $10.33 and a one year high of $18.49. The business has a fifty day moving average of $16.57 and a two-hundred day moving average of $14.73. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.80 and a current ratio of 0.81.

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

Colony Bankcorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th were issued a $0.112 dividend. This represents a $0.45 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Wednesday, November 6th. Colony Bankcorp’s dividend payout ratio is currently 36.00%.

Hedge Funds Weigh In On Colony Bankcorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in Colony Bankcorp by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 46,458 shares of the financial services provider’s stock valued at $721,000 after purchasing an additional 1,500 shares during the last quarter. Empowered Funds LLC grew its stake in Colony Bankcorp by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 35,478 shares of the financial services provider’s stock valued at $551,000 after acquiring an additional 1,742 shares during the last quarter. Ritholtz Wealth Management grew its stake in Colony Bankcorp by 8.9% in the 2nd quarter. Ritholtz Wealth Management now owns 26,753 shares of the financial services provider’s stock valued at $328,000 after acquiring an additional 2,193 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Colony Bankcorp by 3.6% during the 2nd quarter. Renaissance Technologies LLC now owns 95,078 shares of the financial services provider’s stock valued at $1,165,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position 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 worth $711,000 after acquiring an additional 7,726 shares during the last quarter. 50.37% of the stock is owned by institutional investors and hedge funds.

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.