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

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

Colony Bankcorp Price Performance

Shares of NASDAQ CBAN opened at $17.57 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $308.00 million, a price-to-earnings ratio of 14.06 and a beta of 0.57. Colony Bankcorp has a twelve month low of $10.33 and a twelve month high of $18.03. The business has a 50 day simple moving average of $15.77 and a 200-day simple moving average of $14.01.

Colony Bankcorp (NASDAQ:CBAN) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.35 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 the consensus estimate of $28.67 million. Colony Bankcorp had a net margin of 12.75% and a return on equity of 8.86%. During the same quarter in the previous year, the company posted $0.34 earnings per share. As a group, equities research analysts expect that Colony Bankcorp will post 1.38 earnings per share for the current year.

Colony Bankcorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th were given a dividend of $0.112 per share. This represents a $0.45 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Wednesday, November 6th. Colony Bankcorp’s dividend payout ratio is presently 36.00%.

Institutional Investors Weigh In On Colony Bankcorp

Several large investors have recently added to or reduced their stakes in CBAN. Dimensional Fund Advisors LP grew its position in shares of Colony Bankcorp by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 508,394 shares of the financial services provider’s stock worth $6,228,000 after acquiring an additional 38,457 shares during the last quarter. De Lisle Partners LLP grew its position in Colony Bankcorp by 105.8% in the 3rd quarter. De Lisle Partners LLP now owns 68,087 shares of the financial services provider’s stock worth $1,058,000 after purchasing an additional 35,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Colony Bankcorp by 116.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,285 shares of the financial services provider’s stock valued at $579,000 after purchasing an additional 20,031 shares during the period. Barclays PLC raised its holdings in shares of Colony Bankcorp by 49.5% during the third quarter. Barclays PLC now owns 54,484 shares of the financial services provider’s stock valued at $845,000 after buying an additional 18,048 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Colony Bankcorp by 7.6% during the third quarter. State Street Corp now owns 253,507 shares of the financial services provider’s stock worth $3,934,000 after buying an additional 17,865 shares during the period. 50.37% of the stock is owned by institutional investors and hedge funds.

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.