Colony Bankcorp (NYSE:CBAN) Insider Acquires 1,000 Shares

Key Points

• Insider buying: Edward Canup purchased 1,000 Colony Bankcorp shares at $21.25 each, increasing his ownership by 2.52% to 40,702 shares.
• Financial performance: Colony Bankcorp reported quarterly earnings of $0.52 per share, exceeding estimates of $0.48, while revenue of $42.03 million also topped forecasts.
• Market outlook: Shares recently traded near $21.31, and analysts maintain a consensus “Buy” rating with an average price target of $23.00. The company pays a quarterly dividend of $0.12, yielding approximately 2.3% annually.

Colony Bankcorp, Inc. (NYSE:CBAN - Get Free Report) insider Edward Canup purchased 1,000 shares of the business's stock in a transaction on Thursday, August 20th. The stock was purchased at an average price of $21.25 per share, with a total value of $21,250.00. Following the purchase, the insider owned 40,702 shares of the company's stock, valued at approximately $864,917.50. The trade was a 2.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Colony Bankcorp Stock Performance

CBAN stock traded down $0.13 during trading hours on Thursday, hitting $21.31. 123,519 shares of the stock were exchanged, compared to its average volume of 237,548. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $452.20 million, a P/E ratio of 12.92 and a beta of 0.55. The company has a 50-day simple moving average of $21.08 and a two-hundred day simple moving average of $20.42. Colony Bankcorp, Inc. has a 12 month low of $15.80 and a 12 month high of $22.46.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last issued its quarterly 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 company had revenue of $42.03 million during 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%. On average, analysts forecast that Colony Bankcorp, Inc. will post 1.92 earnings per share for the current fiscal year.

Colony Bankcorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 5th. This represents a $0.48 annualized dividend and a yield of 2.3%. Colony Bankcorp's dividend payout ratio is presently 29.09%.

Analyst Upgrades and Downgrades

CBAN has been the subject of a number of analyst reports. Hovde Group raised their price target on Colony Bankcorp from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Wall Street Zen downgraded shares of Colony Bankcorp from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings cut shares of Colony Bankcorp from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Finally, Zacks Research upgraded shares of Colony Bankcorp from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $23.00.

Hedge Funds Weigh In On Colony Bankcorp

A number of institutional investors have recently bought and sold shares of the business. Man Group plc increased its holdings in Colony Bankcorp by 4.9% in the fourth quarter. Man Group plc now owns 18,793 shares of the company's stock valued at $335,000 after buying an additional 874 shares in the last quarter. BNP Paribas Financial Markets raised its position in Colony Bankcorp by 38.4% in the second quarter. BNP Paribas Financial Markets now owns 3,491 shares of the company's stock valued at $57,000 after purchasing an additional 969 shares during the period. PNC Financial Services Group Inc. increased its holdings in Colony Bankcorp by 15.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,694 shares of the company's stock valued at $174,000 after purchasing an additional 1,146 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Colony Bankcorp by 4.9% in the second quarter. Hsbc Holdings PLC now owns 29,374 shares of the company's stock valued at $484,000 after purchasing an additional 1,374 shares during the period. Finally, Rockefeller Capital Management L.P. raised its position in Colony Bankcorp by 49.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,500 shares of the company's stock valued at $80,000 after purchasing an additional 1,494 shares in the last quarter. 50.37% of the stock is owned by hedge funds and other institutional investors.

Colony Bankcorp Company Profile

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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