Colony Bankcorp (NYSE:CBAN) Releases Earnings Results, Meets Expectations

Key Points

• Colony Bankcorp reported Q results with earnings per share of $0.45, matching consensus, but revenue of $30.93 million missed analysts' $42.10 million estimate; net margin was 14.85% and ROE 10.08%.
• The company paid a quarterly dividend of $0.12 per share (annualized $0.48), implying a yield of 2.3% and a payout ratio of 30.19%.
• Shares opened at $20.81 (up 0.9%), the firm has a market cap of about $440.5 million, and analysts' consensus is a Buy with an average target price of $22.00 following several upgrades.

Colony Bankcorp (NYSE:CBAN - Get Free Report) released its quarterly earnings data on Wednesday. The company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45, FiscalAI reports. Colony Bankcorp had a net margin of 14.85% and a return on equity of 10.08%. The business had revenue of $30.93 million for the quarter, compared to analyst estimates of $42.10 million.

Colony Bankcorp Stock Up 0.9%

Colony Bankcorp stock opened at $20.81 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.85. The company's 50-day moving average is $20.12 and its 200-day moving average is $18.52. The firm has a market capitalization of $440.53 million, a PE ratio of 13.09 and a beta of 0.61. Colony Bankcorp has a fifty-two week low of $14.63 and a fifty-two week high of $21.61.

Colony Bankcorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, February 11th. This represents a $0.48 annualized dividend and a dividend yield of 2.3%. This is a boost from Colony Bankcorp's previous quarterly dividend of $0.12. Colony Bankcorp's dividend payout ratio (DPR) is presently 30.19%.

Analyst Ratings Changes

Several equities research analysts have commented on CBAN shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Colony Bankcorp in a research note on Friday, March 27th. Hovde Group boosted their price target on shares of Colony Bankcorp from $21.00 to $22.00 and gave the company an "outperform" rating in a report on Monday, February 2nd. Brean Capital upgraded shares of Colony Bankcorp from a "neutral" rating to a "buy" rating in a research report on Monday, March 23rd. Zacks Research raised Colony Bankcorp from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 15th. Finally, Wall Street Zen lowered Colony Bankcorp from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $22.00.

Institutional Trading of Colony Bankcorp

A number of 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% during the 4th quarter. Man Group plc now owns 18,793 shares of the company's stock worth $335,000 after purchasing an additional 874 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of 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 buying an additional 969 shares in 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 buying an additional 1,374 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Colony Bankcorp by 83.0% in the third quarter. Russell Investments Group Ltd. now owns 3,593 shares of the company's stock valued at $61,000 after buying an additional 1,630 shares during the period. Finally, Barclays PLC grew its position in Colony Bankcorp by 2.7% during the third quarter. Barclays PLC now owns 68,334 shares of the company's stock worth $1,162,000 after buying an additional 1,778 shares in the last quarter. 50.37% of the stock is 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.