Key Points
- Insider buying: Edward Canup purchased 2,000 Colony Bankcorp shares for $43,600, increasing his direct stake by 5.76% to 36,702 shares.
- Quarterly performance: Colony Bankcorp reported adjusted earnings of $0.52 per share and revenue of $42.03 million, exceeding analyst estimates for both metrics.
- Investor outlook: The company declared a quarterly dividend of $0.12 per share, while analysts maintain a consensus “Buy” rating with an average price target of $23.00.
Colony Bankcorp, Inc. (NYSE:CBAN - Get Free Report) insider Edward Canup purchased 2,000 shares of the company's stock in a transaction dated Thursday, July 30th. The shares were purchased at an average cost of $21.80 per share, for a total transaction of $43,600.00. Following the transaction, the insider directly owned 36,702 shares in the company, valued at approximately $800,103.60. This represents a 5.76% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Colony Bankcorp Trading Down 0.1%
NYSE:CBAN opened at $21.89 on Tuesday. The firm has a market cap of $463.19 million, a P/E ratio of 13.27 and a beta of 0.55. Colony Bankcorp, Inc. has a one year low of $15.80 and a one year high of $22.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.88 and a current ratio of 0.89. The firm has a 50-day simple moving average of $20.61 and a 200-day simple moving average of $20.15.
Colony Bankcorp (NYSE:CBAN - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. The business had revenue of $42.03 million for the quarter, compared to analysts' expectations of $40.90 million. Colony Bankcorp had a return on equity of 10.67% and a net margin of 15.42%. Equities analysts anticipate that Colony Bankcorp, Inc. will post 1.92 EPS for the current fiscal year.
Colony Bankcorp Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, August 5th. Colony Bankcorp's dividend payout ratio (DPR) is 29.09%.
Institutional Trading of Colony Bankcorp
Several institutional investors and hedge funds have recently bought and sold shares of CBAN. Public Employees Retirement System of Ohio acquired a new position in Colony Bankcorp during the third quarter worth $44,000. BNP Paribas Financial Markets grew its position in Colony Bankcorp by 38.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,491 shares of the company's stock valued at $57,000 after acquiring an additional 969 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Colony Bankcorp by 83.0% during the third quarter. Russell Investments Group Ltd. now owns 3,593 shares of the company's stock worth $61,000 after purchasing an additional 1,630 shares during the period. Rockefeller Capital Management L.P. increased its stake in Colony Bankcorp by 49.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,500 shares of the company's stock worth $80,000 after purchasing an additional 1,494 shares during the period. Finally, NewEdge Advisors LLC acquired a new stake in shares of Colony Bankcorp during the first quarter worth about $89,000. 50.37% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have commented on CBAN shares. Zacks Research raised Colony Bankcorp from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Weiss Ratings upgraded 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 objective on shares of Colony Bankcorp from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Finally, Wall Street Zen upgraded Colony Bankcorp from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. One 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, the stock presently has a consensus rating of "Buy" and an average price target of $23.00.
Get Our Latest Analysis on Colony Bankcorp
Colony Bankcorp Company Profile
(
Get Free Report)
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.
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