Colony Bankcorp, Inc. (NYSE:CBAN) Plans Quarterly Dividend of $0.12

Key Points

• Colony Bankcorp declared a quarterly dividend of $0.12 per share, payable on August 19 to shareholders of record as of August 5. The dividend implies an annualized yield of about 2.3%.
• The company’s latest earnings beat expectations, reporting $0.52 EPS versus the $0.48 consensus estimate, while revenue also came in above forecasts at $42.03 million.
• Analyst sentiment remains generally positive, with a Buy consensus and an average target price of $23.00. Recent rating changes included an upgrade from Zacks Research to strong-buy.

Colony Bankcorp, Inc. (NYSE:CBAN - Get Free Report) announced a quarterly dividend on Wednesday, July 22nd. Investors of record on Wednesday, August 5th will be paid a dividend of 0.12 per share on Wednesday, August 19th. This represents a c) annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, August 5th.

Colony Bankcorp has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 7 years.

Colony Bankcorp Trading Down 1.4%

Shares of NYSE CBAN opened at $20.56 on Thursday. The stock's 50 day moving average price is $20.24 and its two-hundred day moving average price is $19.93. Colony Bankcorp has a 52-week low of $15.80 and a 52-week high of $21.61. The stock has a market capitalization of $435.05 million, a P/E ratio of 12.85 and a beta of 0.56. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.68.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $0.52 EPS 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 the consensus estimate of $40.90 million. Colony Bankcorp had a return on equity of 10.23% and a net margin of 14.83%. On average, analysts anticipate that Colony Bankcorp will post 1.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Zacks Research upgraded Colony Bankcorp from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Hovde Group boosted their target price on shares of Colony Bankcorp from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Weiss Ratings raised shares of Colony Bankcorp from a "buy (b)" rating to a "buy (b+)" rating in a report on Friday, May 15th. Finally, Wall Street Zen cut shares of Colony Bankcorp from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $23.00.

About Colony Bankcorp

Colony Bankcorp, Inc is a bank holding company headquartered in Baxley, Georgia, that operates through its primary subsidiary, The Colony Bank. The company's core focus is on delivering community banking services tailored to individuals, small businesses and agricultural customers throughout Georgia and Florida. Colony Bankcorp's structure supports a full suite of deposit and lending solutions designed to meet the needs of local markets.

The company offers a range of deposit products, including personal and business checking accounts, savings and money market accounts, and certificates of deposit.

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