Colony Bankcorp (NYSE:CBAN) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded Colony Bankcorp from “Buy” to “Hold,” although the broader analyst consensus remains “Buy” with a $23.00 target price.
• Colony Bankcorp reported quarterly EPS of $0.52, beating estimates of $0.48, while revenue of $42.03 million also exceeded expectations.
• Shares opened at $21.98, near their 12-month high of $22.40. An insider purchased 2,000 shares, and 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 report issued on Saturday.

CBAN has been the topic of several other research reports. Zacks Research raised shares of Colony Bankcorp from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Weiss Ratings upgraded shares of Colony Bankcorp from a "buy (b)" rating to a "buy (b+)" rating in a research report on Friday, May 15th. Finally, Hovde Group boosted their price target on shares of Colony Bankcorp from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. According to MarketBeat.com, Colony Bankcorp has a consensus rating of "Buy" and a consensus target price of $23.00.

Colony Bankcorp Trading Down 0.2%

Shares of CBAN opened at $21.98 on Friday. 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 has a 12-month low of $15.80 and a 12-month high of $22.40. The firm has a market capitalization of $465.18 million, a PE ratio of 13.32 and a beta of 0.55. The stock's fifty day simple moving average is $20.79 and its 200-day simple moving average is $20.23.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.04. The firm had revenue of $42.03 million during the quarter, compared to analyst estimates of $40.90 million. Colony Bankcorp had a return on equity of 10.40% and a net margin of 15.42%. As a group, research analysts predict that Colony Bankcorp will post 1.92 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Edward G. Canup bought 2,000 shares of the business's stock in a transaction on Thursday, July 30th. The shares were purchased at an average price of $21.80 per share, with a total value of $43,600.00. Following the completion of the purchase, the insider owned 36,702 shares of the company's stock, valued at $800,103.60. This represents a 5.76% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.92% of the company's stock.

Institutional Trading of Colony Bankcorp

Institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC boosted its stake in Colony Bankcorp by 153.9% during the 1st quarter. AQR Capital Management LLC now owns 28,466 shares of the company's stock worth $460,000 after acquiring an additional 17,253 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Colony Bankcorp by 10.4% in the first quarter. Goldman Sachs Group Inc. now owns 98,128 shares of the company's stock valued at $1,585,000 after purchasing an additional 9,226 shares in the last quarter. Empowered Funds LLC increased its stake in Colony Bankcorp by 28.8% in the first quarter. Empowered Funds LLC now owns 47,942 shares of the company's stock valued at $774,000 after purchasing an additional 10,709 shares in the last quarter. Jane Street Group LLC raised its holdings in Colony Bankcorp by 46.8% in the first quarter. Jane Street Group LLC now owns 41,462 shares of the company's stock worth $670,000 after purchasing an additional 13,216 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Colony Bankcorp by 3.0% in the second quarter. Geode Capital Management LLC now owns 367,897 shares of the company's stock worth $6,060,000 after purchasing an additional 10,798 shares during the period. 50.37% of the stock is owned by institutional investors.

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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