Wall Street Zen Upgrades Colony Bankcorp (NYSE:CBAN) to "Buy"

Key Points

• Wall Street Zen upgraded Colony Bankcorp from “Hold” to “Buy,” while the broader analyst consensus remains “Moderate Buy” with a $23.00 price target.
• Colony Bankcorp reported quarterly earnings of $0.52 per share, exceeding the $0.48 consensus estimate, while revenue of $42.03 million also topped expectations.
• The stock opened at $20.69, with a market capitalization of approximately $439 million; insiders purchased 7,000 shares in the latest quarter, and institutional investors own 50.37% of the company.

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

A number of other equities analysts also recently issued reports on the company. Zacks Research downgraded Colony Bankcorp from a "strong-buy" rating to a "hold" rating in a report on Friday, September 11th. Weiss Ratings downgraded shares of Colony Bankcorp from a "buy (b+)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Colony Bankcorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.

Colony Bankcorp Price Performance

CBAN stock opened at $20.69 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.88 and a quick ratio of 0.88. Colony Bankcorp has a 1 year low of $15.80 and a 1 year high of $22.46. The firm has a 50-day moving average of $21.45 and a 200 day moving average of $20.58. The company has a market cap of $439.00 million, a P/E ratio of 12.54 and a beta of 0.54.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last posted its earnings results 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 firm had revenue of $42.03 million for the quarter, compared to the consensus estimate of $40.90 million. Colony Bankcorp had a return on equity of 10.40% and a net margin of 15.42%. On average, sell-side analysts forecast that Colony Bankcorp will post 2 EPS for the current year.

Insider Transactions at Colony Bankcorp

In other news, insider Edward Canup acquired 2,000 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The shares were bought at an average cost of $21.62 per share, with a total value of $43,240.00. Following the transaction, the insider owned 39,702 shares of the company's stock, valued at $858,357.24. This trade represents a 5.30% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have bought 7,000 shares of company stock valued at $151,290. Insiders own 3.92% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc purchased a new position in Colony Bankcorp in the 2nd quarter worth approximately $42,000. Rockefeller Capital Management L.P. increased its holdings in shares of Colony Bankcorp by 49.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,500 shares of the company's stock worth $80,000 after purchasing an additional 1,494 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of Colony Bankcorp in the 1st quarter worth $89,000. Versant Capital Management Inc raised its stake in shares of Colony Bankcorp by 762.5% in the second quarter. Versant Capital Management Inc now owns 5,175 shares of the company's stock worth $104,000 after purchasing an additional 4,575 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Colony Bankcorp in the first quarter worth $106,000. 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.

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