Colony Bankcorp (NYSE:CBAN) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Colony Bankcorp from “hold” to “strong-buy,” adding to a generally positive analyst outlook. MarketBeat shows a consensus rating of “Buy” with a target price of $23.00.
• The stock has been moving near its highs, opening at $20.48 with a 52-week range of $15.80 to $21.61. Its recent trading levels are close to both the 50-day and 200-day moving averages.
• Latest earnings were in line with expectations: Colony Bankcorp reported EPS of $0.45, matching estimates, though revenue of $39.90 million came in below forecasts. Analysts currently expect full-year EPS of 1.92.

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

CBAN has been the topic of several other reports. Brean Capital upgraded Colony Bankcorp from a "neutral" rating to a "buy" rating in a research report on Monday, March 23rd. Wall Street Zen lowered Colony Bankcorp from a "buy" rating to a "hold" rating in a research report on Sunday, March 29th. Hovde Group boosted their target price on shares of Colony Bankcorp from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Finally, Weiss Ratings raised shares of Colony Bankcorp from a "buy (b)" rating to a "buy (b+)" rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $23.00.

Colony Bankcorp Stock Performance

Shares of CBAN opened at $20.48 on Tuesday. The company has a 50-day simple moving average of $20.11 and a two-hundred day simple moving average of $19.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market capitalization of $433.46 million, a PE ratio of 12.80 and a beta of 0.56. Colony Bankcorp has a one year low of $15.80 and a one year high of $21.61.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $0.45 earnings per share for the quarter, hitting analysts' consensus estimates of $0.45. Colony Bankcorp had a return on equity of 10.23% and a net margin of 14.83%.The firm had revenue of $39.90 million for the quarter, compared to the consensus estimate of $42.10 million. On average, analysts anticipate that Colony Bankcorp will post 1.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Colony Bankcorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new position in shares of Colony Bankcorp in the third quarter worth approximately $44,000. BNP Paribas Financial Markets raised its holdings in Colony Bankcorp by 38.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,491 shares of the company's stock worth $57,000 after acquiring an additional 969 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Colony Bankcorp by 83.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,593 shares of the company's stock worth $61,000 after acquiring an additional 1,630 shares during the last quarter. NewEdge Advisors LLC bought a new position in Colony Bankcorp in the 1st quarter valued at approximately $89,000. Finally, Rockefeller Capital Management L.P. lifted its position in Colony Bankcorp by 49.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,500 shares of the company's stock valued at $80,000 after acquiring an additional 1,494 shares in the last quarter. 50.37% of the stock is currently owned by 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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