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

Key Points

• Edward Canup, an insider at Colony Bankcorp, bought 1,000 shares on April 27 at an average price of $19.80, increasing his stake to 29,969 shares (a 3.45% rise), as disclosed in an SEC filing.
• The company declared a quarterly dividend of $0.12 per share (annualized $0.48, ~2.4% yield) with a record/ex-dividend date of May 6 and payment on May 20.
• CBAN trades near $19.66 with a P/E of 12.29 and moving averages of $20.09 (50-day) and $18.63 (200-day); analysts have an average price target of $23 and a consensus rating of "Buy."

Colony Bankcorp, Inc. (NYSE:CBAN - Get Free Report) insider Edward Canup bought 1,000 shares of Colony Bankcorp stock in a transaction that occurred on Monday, April 27th. The stock was bought at an average cost of $19.80 per share, with a total value of $19,800.00. Following the completion of the purchase, the insider owned 29,969 shares in the company, valued at approximately $593,386.20. This trade represents a 3.45% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Colony Bankcorp Stock Performance

Shares of NYSE:CBAN traded down $0.46 on Wednesday, reaching $19.66. 183,228 shares of the company's stock were exchanged, compared to its average volume of 210,077. The company has a fifty day moving average of $20.09 and a 200-day moving average of $18.63. Colony Bankcorp, Inc. has a twelve month low of $14.63 and a twelve month high of $21.61. The company has a market capitalization of $416.13 million, a price-to-earnings ratio of 12.29 and a beta of 0.61. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. Colony Bankcorp had a net margin of 14.83% and a return on equity of 10.68%. The business had revenue of $30.93 million for the quarter, compared to analyst estimates of $42.10 million. On average, research analysts predict that Colony Bankcorp, Inc. will post 1.91 EPS for the current fiscal year.

Colony Bankcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, May 6th. Colony Bankcorp's dividend payout ratio is presently 30.00%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CBAN. Zacks Research raised Colony Bankcorp from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 15th. Wall Street Zen downgraded Colony Bankcorp from a "buy" rating to a "hold" rating in a research note on Sunday, March 29th. Brean Capital upgraded Colony Bankcorp from a "neutral" rating to a "buy" rating in a research report on Monday, March 23rd. Hovde Group lifted their price objective on Colony Bankcorp from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Colony Bankcorp in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $23.00.

Institutional Investors Weigh In On Colony Bankcorp

A number of large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its stake in Colony Bankcorp by 153.9% in the 1st quarter. AQR Capital Management LLC now owns 28,466 shares of the company's stock worth $460,000 after purchasing an additional 17,253 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of 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 during the period. Empowered Funds LLC grew its stake in Colony Bankcorp by 28.8% during the 1st quarter. Empowered Funds LLC now owns 47,942 shares of the company's stock valued at $774,000 after acquiring an additional 10,709 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Colony Bankcorp by 46.8% in the 1st quarter. Jane Street Group LLC now owns 41,462 shares of the company's stock worth $670,000 after acquiring an additional 13,216 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Colony Bankcorp by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 367,897 shares of the company's stock valued at $6,060,000 after purchasing an additional 10,798 shares during the last quarter. Institutional investors own 50.37% of the company's stock.

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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