Key Points
- Insider buying: Edward Canup purchased 1,000 Colony Bankcorp shares at $21.20 each, investing $21,200 and increasing his holdings by 2.46% to 41,702 shares.
- Financial performance: Colony Bankcorp exceeded quarterly earnings and revenue estimates, reporting $0.52 in EPS versus the $0.48 consensus and $42.03 million in revenue versus $40.90 million expected.
- Shareholder outlook: The company pays a $0.12 quarterly dividend, equivalent to a 2.3% yield, while analysts maintain an overall “Buy” rating with an average price target of $23.00.
Colony Bankcorp, Inc. (NYSE:CBAN - Get Free Report) insider Edward Canup bought 1,000 shares of the company's stock in a transaction dated Wednesday, August 26th. The stock was bought at an average cost of $21.20 per share, for a total transaction of $21,200.00. Following the acquisition, the insider owned 41,702 shares of the company's stock, valued at approximately $884,082.40. This trade represents a 2.46% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Colony Bankcorp Price Performance
Shares of NYSE CBAN opened at $21.11 on Thursday. The stock has a fifty day moving average price of $21.14 and a 200 day moving average price of $20.45. Colony Bankcorp, Inc. has a 1-year low of $15.80 and a 1-year high of $22.46. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $447.98 million, a PE ratio of 12.79 and a beta of 0.55.
Colony Bankcorp (NYSE:CBAN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.04. Colony Bankcorp had a net margin of 15.42% and a return on equity of 10.40%. The company had revenue of $42.03 million during the quarter, compared to the consensus estimate of $40.90 million. Sell-side analysts forecast that Colony Bankcorp, Inc. will post 1.92 EPS for the current year.
Colony Bankcorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 5th. This represents a $0.48 annualized dividend and a yield of 2.3%. Colony Bankcorp's payout ratio is presently 29.09%.
Hedge Funds Weigh In On Colony Bankcorp
Hedge funds have recently bought and sold shares of the stock. Quantinno Capital Management LP increased its position in Colony Bankcorp by 67.1% during the 1st quarter. Quantinno Capital Management LP now owns 64,827 shares of the company's stock worth $1,295,000 after purchasing an additional 26,031 shares in the last quarter. Nicholas Hoffman & Company LLC. acquired a new stake in shares of Colony Bankcorp during the 1st quarter worth about $1,068,000. Oppenheimer & Close LLC purchased a new stake in shares of Colony Bankcorp during the fourth quarter worth about $958,000. De Lisle Partners LLP acquired a new position in shares of Colony Bankcorp in the second quarter valued at approximately $935,000. Finally, Globeflex Capital L P acquired a new position in shares of Colony Bankcorp in the second quarter valued at approximately $885,000. Hedge funds and other institutional investors own 50.37% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on CBAN shares. Weiss Ratings downgraded Colony Bankcorp from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Zacks Research raised Colony Bankcorp from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Finally, Wall Street Zen lowered shares of Colony Bankcorp from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $23.00.
View 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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