Colony Bankcorp (NYSE:CBAN) Upgraded at Wall Street Zen

Key Points

• Colony Bankcorp was upgraded by Wall Street Zen from “hold” to “buy”, adding to a string of recent positive analyst calls on the stock.
• Other firms have also turned more bullish: Hovde Group raised its price target to $23 with an outperform rating, while Zacks Research upgraded the shares to strong-buy. The consensus analyst view is now a Buy with an average target price of $23.00.
• The bank reported better-than-expected quarterly results, posting EPS of $0.52 versus estimates of $0.48 and revenue of $42.03 million versus $40.90 million. Shares opened at $21.79, near the stock’s 52-week high of $22.06.

Colony Bankcorp (NYSE:CBAN - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

A number of other equities research analysts also recently commented on the company. Hovde Group boosted their target price on Colony Bankcorp from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Weiss Ratings raised Colony Bankcorp from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, May 15th. Finally, Zacks Research raised Colony Bankcorp from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $23.00.

Colony Bankcorp Stock Performance

Shares of NYSE CBAN opened at $21.79 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.88 and a current ratio of 0.89. The company has a market cap of $461.06 million, a P/E ratio of 13.21 and a beta of 0.56. The firm's fifty day moving average is $20.33 and its two-hundred day moving average is $19.97. Colony Bankcorp has a 52-week low of $15.80 and a 52-week high of $22.06.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The business had revenue of $42.03 million during the quarter, compared to the consensus estimate of $40.90 million. Colony Bankcorp had a net margin of 15.42% and a return on equity of 10.67%. As a group, analysts anticipate that Colony Bankcorp will post 1.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Colony Bankcorp

A number of institutional investors and hedge funds have recently modified their holdings of CBAN. Public Employees Retirement System of Ohio bought a new position in shares of Colony Bankcorp during the 3rd quarter valued at approximately $44,000. BNP Paribas Financial Markets boosted its stake in Colony Bankcorp by 38.4% during the second quarter. BNP Paribas Financial Markets now owns 3,491 shares of the company's stock worth $57,000 after buying an additional 969 shares during the period. Russell Investments Group Ltd. boosted its stake in Colony Bankcorp by 83.0% during the third quarter. Russell Investments Group Ltd. now owns 3,593 shares of the company's stock worth $61,000 after buying an additional 1,630 shares during the period. NewEdge Advisors LLC bought a new position in Colony Bankcorp during the first quarter valued at $89,000. Finally, Rockefeller Capital Management L.P. increased its position in Colony Bankcorp by 49.7% during the fourth 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 during the last quarter. 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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