Key Points
- Insider Edward Canup bought 1,000 Colony Bankcorp shares at an average price of $19.89, spending $19,890. The purchase increased his holdings by 2.29% to 44,702 shares.
- Colony Bankcorp beat quarterly earnings expectations, reporting EPS of $0.54 versus the $0.52 consensus and revenue of $42.64 million versus $41.20 million expected.
- The company declared a quarterly dividend of $0.12 per share, equivalent to a 2.4% annualized yield. Analysts have a “Moderate Buy” consensus rating and a $23 average price target.
Colony Bankcorp, Inc. (NYSE:CBAN - Get Free Report) insider Edward Canup acquired 1,000 shares of the stock in a transaction dated Thursday, November 5th. The stock was acquired at an average cost of $19.89 per share, with a total value of $19,890.00. Following the transaction, the insider owned 44,702 shares of the company's stock, valued at approximately $889,122.78. This trade represents a 2.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Colony Bankcorp Stock Performance
Colony Bankcorp stock opened at $19.92 on Friday. The firm has a market capitalization of $422.77 million, a P/E ratio of 10.35 and a beta of 0.57. The stock has a fifty day moving average price of $20.59 and a 200 day moving average price of $20.42. Colony Bankcorp, Inc. has a 52 week low of $15.90 and a 52 week high of $22.46. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60.
Colony Bankcorp (NYSE:CBAN - Get Free Report) last released its earnings results on Wednesday, October 28th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. Colony Bankcorp had a return on equity of 10.73% and a net margin of 16.71%. The firm had revenue of $42.64 million for the quarter, compared to the consensus estimate of $41.20 million. Equities research analysts anticipate that Colony Bankcorp, Inc. will post 2.07 earnings per share for the current year.
Colony Bankcorp Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Wednesday, November 11th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.4%. Colony Bankcorp's dividend payout ratio is currently 26.37%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on CBAN shares. Zacks Research cut shares of Colony Bankcorp from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 11th. Wall Street Zen raised shares of Colony Bankcorp from a "hold" rating to a "buy" rating in a research report on Sunday, November 1st. Finally, Weiss Ratings lowered shares of Colony Bankcorp from a "buy (b+)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.
Get Our Latest Analysis on CBAN
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company acquired a new position in Colony Bankcorp in the second quarter valued at $6,025,000. Empowered Funds LLC purchased a new stake in Colony Bankcorp during the second quarter valued at about $1,569,000. Bank of New York Mellon Corp acquired a new stake in Colony Bankcorp during the second quarter worth about $1,343,000. Hsbc Holdings PLC acquired a new stake in Colony Bankcorp during the second quarter worth about $1,103,000. Finally, Quantinno Capital Management LP increased its stake in Colony Bankcorp by 67.1% during the first quarter. Quantinno Capital Management LP now owns 64,827 shares of the company's stock worth $1,295,000 after acquiring an additional 26,031 shares during the last quarter. 50.37% of the stock is owned by hedge funds and other institutional investors.
About Colony Bankcorp
(
Get Free Report)
Colony Bankcorp, Inc is a bank holding company headquartered in Fitzgerald, Georgia. Through its wholly owned subsidiary, Colony Bank, the company provides banking and financial services to individuals, families, businesses and institutions. Colony Bank has roots dating to 1935 and operates as a community-focused financial institution serving markets across Georgia and neighboring areas.
The bank offers a range of personal and business deposit accounts, consumer and commercial loans, mortgage lending, treasury management and other banking services.
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