Colony Bankcorp (NYSE:CBAN) Stock Rating Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Colony Bankcorp from “Buy” to “Hold.” Despite the cut, analysts’ consensus remains “Moderate Buy,” with an average price target of $23.00.
• Colony Bankcorp reported quarterly earnings of $0.52 per share, exceeding the $0.48 analyst estimate, while revenue of $42.03 million also topped expectations.
• CBAN shares opened at $20.35, with a market capitalization of approximately $431.9 million. Insiders bought 7,000 shares over the past 90 days, while institutional investors own 50.37% of the stock.

Colony Bankcorp (NYSE:CBAN - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

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

Colony Bankcorp Stock Performance

Shares of Colony Bankcorp stock opened at $20.35 on Friday. Colony Bankcorp has a 52 week low of $15.80 and a 52 week high of $22.46. The business's fifty day simple moving average is $20.79 and its 200-day simple moving average is $20.65. The firm has a market cap of $431.87 million, a PE ratio of 12.33 and a beta of 0.56. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.60.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.04. The company had revenue of $42.03 million for the quarter, compared to analysts' expectations of $40.90 million. Colony Bankcorp had a net margin of 15.42% and a return on equity of 10.40%. Equities analysts forecast that Colony Bankcorp will post 2.00 earnings per share for the current year.

Insider Transactions at Colony Bankcorp

In other news, insider Edward Canup purchased 2,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was bought at an average cost of $21.62 per share, for a total transaction of $43,240.00. Following the acquisition, the insider directly owned 39,702 shares of the company's stock, valued at $858,357.24. This represents a 5.30% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders purchased 7,000 shares of company stock worth $151,290. 3.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On Colony Bankcorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBAN. BlackRock Inc. purchased a new stake in Colony Bankcorp in the second quarter worth about $46,935,000. Dimensional Fund Advisors LP grew its stake in Colony Bankcorp by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 737,755 shares of the company's stock worth $14,732,000 after acquiring an additional 14,965 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Colony Bankcorp in the second quarter worth about $6,025,000. Hillsdale Investment Management Inc. raised its position in shares of Colony Bankcorp by 4.6% in the 1st quarter. Hillsdale Investment Management Inc. now owns 250,177 shares of the company's stock worth $4,996,000 after acquiring an additional 10,920 shares in the last quarter. Finally, Algert Global LLC lifted its holdings in shares of Colony Bankcorp by 44.6% during the 2nd quarter. Algert Global LLC now owns 227,476 shares of the company's stock valued at $4,570,000 after purchasing an additional 70,216 shares during the last quarter. 50.37% of the stock is owned by institutional investors.

Colony Bankcorp Company Profile

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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