Colony Bankcorp (NYSE:CBAN) Issues Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Key Points

• Q1 miss: Colony Bankcorp reported EPS of $0.45, missing the $0.53 consensus by $0.08, and posted revenue of $30.93 million versus an estimated $42.10 million.
• Dividend payout: The company disclosed a quarterly dividend of $0.12 per share (annualized $0.48), implying a 2.3% yield and a payout ratio of about 30.2%.
• Market and analyst reaction: Shares traded up 0.9% to $20.81 and analysts remain broadly positive with a consensus "Buy" rating and an average price target of $22.00 following several upgrades.

Colony Bankcorp (NYSE:CBAN - Get Free Report) announced its earnings results on Wednesday. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.08), FiscalAI reports. The firm had revenue of $30.93 million for the quarter, compared to the consensus estimate of $42.10 million. Colony Bankcorp had a return on equity of 10.08% and a net margin of 14.85%.

Colony Bankcorp Trading Up 0.9%

NYSE CBAN traded up $0.19 on Wednesday, hitting $20.81. 214,077 shares of the stock were exchanged, compared to its average volume of 197,334. Colony Bankcorp has a 52-week low of $14.63 and a 52-week high of $21.61. 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 has a market capitalization of $440.53 million, a price-to-earnings ratio of 13.09 and a beta of 0.61. The company's 50-day moving average price is $20.12 and its two-hundred day moving average price is $18.51.

Colony Bankcorp Increases Dividend

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Colony Bankcorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in CBAN. AQR Capital Management LLC grew its position 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 purchasing an additional 17,253 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Colony Bankcorp by 10.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 98,128 shares of the company's stock worth $1,585,000 after purchasing an additional 9,226 shares in the last quarter. Empowered Funds LLC grew its position in Colony Bankcorp by 28.8% during the 1st quarter. Empowered Funds LLC now owns 47,942 shares of the company's stock worth $774,000 after purchasing an additional 10,709 shares in the last quarter. Jane Street Group LLC grew its position in Colony Bankcorp by 46.8% during the 1st 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 in the last quarter. Finally, Geode Capital Management LLC grew its position in Colony Bankcorp by 3.0% during the 2nd 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 in the last quarter. 50.37% of the stock is currently owned by hedge funds and other 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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