Colony Bankcorp (NASDAQ:CBAN) Upgraded at StockNews.com

Colony Bankcorp (NASDAQ:CBAN) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Colony Bankcorp Price Performance

NASDAQ:CBAN traded down $0.15 during mid-day trading on Thursday, reaching $15.30. 33,212 shares of the stock were exchanged, compared to its average volume of 37,662. The business has a fifty day moving average price of $16.78 and a 200 day moving average price of $15.19. The firm has a market capitalization of $268.16 million, a PE ratio of 12.24 and a beta of 0.62. Colony Bankcorp has a 1-year low of $10.33 and a 1-year high of $18.49. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.90.

Colony Bankcorp (NASDAQ:CBAN) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $44.69 million for the quarter, compared to analysts’ expectations of $28.67 million. Colony Bankcorp had a return on equity of 8.86% and a net margin of 12.75%. During the same quarter last year, the business posted $0.34 EPS. Research analysts expect that Colony Bankcorp will post 1.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Colony Bankcorp

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in Colony Bankcorp by 137.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 28,103 shares of the financial services provider’s stock worth $436,000 after purchasing an additional 16,246 shares in the last quarter. Empowered Funds LLC boosted its position in Colony Bankcorp by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 35,478 shares of the financial services provider’s stock worth $551,000 after acquiring an additional 1,742 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Colony Bankcorp by 116.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,285 shares of the financial services provider’s stock valued at $579,000 after acquiring an additional 20,031 shares in the last quarter. Ritholtz Wealth Management increased its holdings in shares of Colony Bankcorp by 40.0% in the 3rd quarter. Ritholtz Wealth Management now owns 37,452 shares of the financial services provider’s stock valued at $581,000 after purchasing an additional 10,699 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Colony Bankcorp by 15.4% in the second quarter. Bank of New York Mellon Corp now owns 58,044 shares of the financial services provider’s stock worth $711,000 after purchasing an additional 7,726 shares in the last quarter. Hedge funds and other institutional investors own 50.37% of the company’s stock.

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.