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

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

Colony Bankcorp Price Performance

CBAN stock opened at $16.14 on Wednesday. Colony Bankcorp has a 52-week low of $10.33 and a 52-week high of $18.49. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.90. The stock has a market cap of $282.89 million, a price-to-earnings ratio of 12.91 and a beta of 0.61. The business has a fifty day moving average of $16.59 and a two-hundred day moving average of $14.74.

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

Colony Bankcorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th were issued a $0.112 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.45 annualized dividend and a dividend yield of 2.78%. Colony Bankcorp’s dividend payout ratio is currently 36.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Colony Bankcorp by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 508,394 shares of the financial services provider’s stock valued at $6,228,000 after buying an additional 38,457 shares during the period. De Lisle Partners LLP increased its stake in Colony Bankcorp by 105.8% during the third 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 period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Colony Bankcorp by 116.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,285 shares of the financial services provider’s stock worth $579,000 after purchasing an additional 20,031 shares during the period. Barclays PLC lifted its position 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 worth $845,000 after purchasing an additional 18,048 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Colony Bankcorp by 7.6% in the third quarter. State Street Corp now owns 253,507 shares of the financial services provider’s stock valued at $3,934,000 after purchasing an additional 17,865 shares during the period. 50.37% of the stock is currently owned by hedge funds and other institutional investors.

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.