Colony Bankcorp (NASDAQ:CBAN) Upgraded to “Buy” by StockNews.com

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

Colony Bankcorp Stock Performance

NASDAQ:CBAN opened at $10.80 on Monday. The business’s 50-day moving average price is $11.03 and its two-hundred day moving average price is $11.32. Colony Bankcorp has a twelve month low of $8.59 and a twelve month high of $13.58. The stock has a market cap of $189.65 million, a P/E ratio of 8.71 and a beta of 0.53. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.94.

Colony Bankcorp (NASDAQ:CBAN) last announced its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.31 earnings per share for the quarter. The company had revenue of $28.18 million for the quarter. Colony Bankcorp had a return on equity of 9.32% and a net margin of 13.55%.

Hedge Funds Weigh In On Colony Bankcorp

A number of large investors have recently modified their holdings of CBAN. Mendon Capital Advisors Corp purchased a new position in shares of Colony Bankcorp during the 4th quarter valued at about $1,862,000. Hillsdale Investment Management Inc. purchased a new position in shares of Colony Bankcorp during the 4th quarter valued at about $684,000. Pacific Ridge Capital Partners LLC raised its holdings in shares of Colony Bankcorp by 5.3% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 515,943 shares of the financial services provider’s stock valued at $5,157,000 after buying an additional 26,030 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Colony Bankcorp by 168.0% during the 4th quarter. Panagora Asset Management Inc. now owns 35,531 shares of the financial services provider’s stock valued at $473,000 after buying an additional 22,272 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Colony Bankcorp during the 3rd quarter worth approximately $192,000. 50.37% of the stock is 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.