Colony Bankcorp (NYSE:CBAN) Raised to Buy at Wall Street Zen

Colony Bankcorp (NYSE:CBAN) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts have also recently weighed in on CBAN. Zacks Research cut shares of Colony Bankcorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 11th. Weiss Ratings lowered Colony Bankcorp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Colony Bankcorp Price Performance

NYSE CBAN opened at $20.69 on Friday. Colony Bankcorp has a 12 month low of $15.80 and a 12 month high of $22.46. The stock has a market cap of $439.00 million, a price-to-earnings ratio of 12.54 and a beta of 0.54. The company’s 50 day moving average is $21.45 and its two-hundred day moving average is $20.58. 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) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $0.52 earnings per share 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 the consensus estimate of $40.90 million. Colony Bankcorp had a net margin of 15.42% and a return on equity of 10.40%. As a group, research analysts anticipate that Colony Bankcorp will post 2 earnings per share for the current year.

Insider Transactions at Colony Bankcorp

In related news, insider Edward Canup acquired 2,000 shares of Colony Bankcorp stock in a transaction dated Wednesday, August 19th. The shares were purchased at an average price of $21.62 per share, for a total transaction of $43,240.00. Following the completion of the transaction, the insider directly owned 39,702 shares in the company, valued at approximately $858,357.24. This represents a 5.30% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have purchased 7,000 shares of company stock worth $151,290. Company insiders own 3.92% of the company’s stock.

Hedge Funds Weigh In On Colony Bankcorp

A number of hedge funds and other institutional investors have recently modified their holdings of CBAN. BlackRock Inc. purchased a new stake in Colony Bankcorp in the 2nd quarter worth $46,935,000. Dimensional Fund Advisors LP grew its position in shares of Colony Bankcorp by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 737,755 shares of the company’s stock valued at $14,732,000 after purchasing an additional 14,965 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Colony Bankcorp during the second quarter valued at about $6,025,000. Hillsdale Investment Management Inc. increased its holdings in shares of Colony Bankcorp by 4.6% in the first quarter. Hillsdale Investment Management Inc. now owns 250,177 shares of the company’s stock worth $4,996,000 after purchasing an additional 10,920 shares during the last quarter. Finally, Algert Global LLC lifted its position in shares of Colony Bankcorp by 44.6% in the second quarter. Algert Global LLC now owns 227,476 shares of the company’s stock worth $4,570,000 after buying an additional 70,216 shares in the last quarter. Institutional investors own 50.37% of the company’s stock.

Colony Bankcorp Company Profile

Colony Bankcorp, Inc is a bank holding company headquartered in Fitzgerald, Georgia. Through its principal subsidiary, Colony Bank, the company provides community banking services to individuals, families, businesses and institutions.

Colony Bank offers deposit products, residential and commercial real estate lending, consumer loans, commercial and industrial financing, agricultural loans, treasury management and other business banking services. The company also provides mortgage banking and wealth management services, including investment and financial planning solutions.

Colony Bank serves customers through a network of banking offices and digital banking channels in Georgia and Alabama.