Colony Bankcorp (NYSE:CBAN) Insider Edward Canup Buys 1,000 Shares

Key Points

• Insider buying: Edward Canup purchased 1,000 Colony Bankcorp shares at $22 each for $22,000, increasing his holdings by 2.72% to 37,702 shares.
• Solid quarterly results: Colony Bankcorp reported quarterly EPS of $0.52, beating estimates of $0.48, while revenue of $42.03 million also exceeded expectations.
• Dividend and analyst outlook: The company pays a quarterly dividend of $0.12 per share, equating to a 2.3% yield. Analysts give the stock an average “Buy” rating with a $23 price target, compared with a recent share price of $21.31.

Colony Bankcorp, Inc. (NYSE:CBAN - Get Free Report) insider Edward Canup acquired 1,000 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was acquired at an average cost of $22.00 per share, for a total transaction of $22,000.00. Following the completion of the acquisition, the insider owned 37,702 shares of the company's stock, valued at $829,444. This trade represents a 2.72% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Colony Bankcorp Price Performance

Shares of Colony Bankcorp stock traded down $0.13 on Thursday, reaching $21.31. The company's stock had a trading volume of 123,519 shares, compared to its average volume of 237,548. The company has a market capitalization of $452.20 million, a P/E ratio of 12.92 and a beta of 0.55. Colony Bankcorp, Inc. has a 52-week low of $15.80 and a 52-week high of $22.46. The stock has a 50-day moving average price of $21.08 and a 200-day moving average price of $20.42. 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 announced its earnings results on Wednesday, July 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. Colony Bankcorp had a return on equity of 10.40% and a net margin of 15.42%.The firm had revenue of $42.03 million for the quarter, compared to analyst estimates of $40.90 million. Analysts expect that Colony Bankcorp, Inc. will post 1.92 EPS for the current year.

Colony Bankcorp Announces Dividend

The business 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. This represents a $0.48 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, August 5th. Colony Bankcorp's dividend payout ratio (DPR) is presently 29.09%.

Analysts Set New Price Targets

Several brokerages recently commented on CBAN. Hovde Group boosted their price target on Colony Bankcorp from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Weiss Ratings lowered Colony Bankcorp from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Wall Street Zen cut shares of Colony Bankcorp from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Zacks Research raised shares of Colony Bankcorp from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat, Colony Bankcorp has an average rating of "Buy" and an average price target of $23.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CBAN. Man Group plc grew its position in shares of 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 purchasing an additional 874 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Colony Bankcorp by 38.4% during the second quarter. BNP Paribas Financial Markets now owns 3,491 shares of the company's stock worth $57,000 after buying an additional 969 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Colony Bankcorp by 15.2% during the first quarter. PNC Financial Services Group Inc. now owns 8,694 shares of the company's stock worth $174,000 after buying an additional 1,146 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Colony Bankcorp by 4.9% during the second quarter. Hsbc Holdings PLC now owns 29,374 shares of the company's stock worth $484,000 after buying an additional 1,374 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in Colony Bankcorp by 49.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,500 shares of the company's stock worth $80,000 after buying an additional 1,494 shares during the last quarter. 50.37% of the stock is currently owned by institutional investors and hedge funds.

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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