Colony Bankcorp (NYSE:CBAN) Raised to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded Colony Bankcorp from a "hold" to a "strong-buy," joining other recent analyst upgrades and leaving the stock with a consensus rating of Buy and an average price target of $22.00.
• CBAN opened at $20.79, with a market capitalization of $439.94 million, a P/E of 13.07, 50- and 200-day moving averages of $20.11 and $18.40, and a 52-week range of $14.54 to $21.46.
• The company reported $0.48 EPS for the quarter (beating the $0.46 estimate), with a net margin of 14.85% and ROE of 10.08%, while institutional investors now own about 50.37% of the shares and Fourthstone LLC notably boosted its stake.

Colony Bankcorp (NYSE:CBAN - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Wednesday,Zacks.com reports.

Several other research analysts have also recently commented on the stock. Brean Capital upgraded shares of Colony Bankcorp from a "neutral" rating to a "buy" rating in a report on Monday, March 23rd. Wall Street Zen cut shares of Colony Bankcorp from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. Hovde Group boosted their price target on shares of Colony Bankcorp from $21.00 to $22.00 and gave the stock an "outperform" rating in a report on Monday, February 2nd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Colony Bankcorp in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. According to data from MarketBeat.com, Colony Bankcorp presently has a consensus rating of "Buy" and an average price target of $22.00.

Colony Bankcorp Stock Down 1.0%

CBAN stock opened at $20.79 on Wednesday. The company's 50 day moving average price is $20.11 and its 200 day moving average price is $18.40. The firm has a market capitalization of $439.94 million, a price-to-earnings ratio of 13.07 and a beta of 0.61. Colony Bankcorp has a fifty-two week low of $14.54 and a fifty-two week high of $21.46. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 0.88.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. Colony Bankcorp had a net margin of 14.85% and a return on equity of 10.08%. The company had revenue of $27.27 million during the quarter.

Institutional Trading of Colony Bankcorp

Several institutional investors have recently modified their holdings of the stock. Fourthstone LLC boosted its stake in Colony Bankcorp by 165.9% during the 4th quarter. Fourthstone LLC now owns 1,711,213 shares of the company's stock worth $30,494,000 after purchasing an additional 1,067,540 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in Colony Bankcorp during the 3rd quarter worth $3,148,000. Segall Bryant & Hamill LLC acquired a new stake in Colony Bankcorp during the 3rd quarter worth $1,583,000. Squarepoint Ops LLC acquired a new stake in Colony Bankcorp during the 3rd quarter worth $1,016,000. Finally, Thomasville National Bank acquired a new stake in Colony Bankcorp during the 4th quarter worth $1,015,000. Hedge funds and other 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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