Edward Canup Buys 2,000 Shares of Colony Bankcorp (NYSE:CBAN) Stock

Key Points

• Insider purchase: Edward Canup bought 2,000 Colony Bankcorp shares at an average price of $21.80, investing $43,600 and increasing his stake by 5.76% to 36,702 shares.
• Solid quarterly results: Colony Bankcorp reported quarterly EPS of $0.52, surpassing the $0.48 consensus estimate, while revenue of $42.03 million also exceeded expectations.
• Positive investor outlook: Analysts maintain a consensus “Buy” rating with an average $23 price target. The company also declared a $0.12 quarterly dividend, equivalent to a 2.2% annual yield.

Colony Bankcorp, Inc. (NYSE:CBAN - Get Free Report) insider Edward Canup purchased 2,000 shares of Colony Bankcorp stock in a transaction on Thursday, July 30th. The stock was bought at an average price of $21.80 per share, for a total transaction of $43,600.00. Following the completion of the acquisition, the insider owned 36,702 shares in the company, valued at $800,103.60. The trade was a 5.76% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Colony Bankcorp Price Performance

CBAN stock traded down $0.03 during mid-day trading on Monday, hitting $21.89. The company had a trading volume of 355,088 shares, compared to its average volume of 246,740. The company has a market capitalization of $463.19 million, a price-to-earnings ratio of 13.27 and a beta of 0.56. Colony Bankcorp, Inc. has a 12-month low of $15.80 and a 12-month high of $22.29. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average price of $20.56 and a 200 day moving average price of $20.12.

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. Colony Bankcorp had a net margin of 15.42% and a return on equity of 10.67%. The business had revenue of $42.03 million during the quarter, compared to the consensus estimate of $40.90 million. On average, research analysts anticipate that Colony Bankcorp, Inc. will post 1.92 earnings per share for the current year.

Colony Bankcorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, August 5th. Colony Bankcorp's dividend payout ratio (DPR) is currently 29.09%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CBAN. Wall Street Zen raised Colony Bankcorp from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. Zacks Research raised shares of Colony Bankcorp from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Hovde Group boosted their price target on shares of Colony Bankcorp from $22.00 to $23.00 and gave the stock an "outperform" rating in a research 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 note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $23.00.

Institutional Investors Weigh In On Colony Bankcorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBAN. AQR Capital Management LLC lifted its stake in shares of Colony Bankcorp by 153.9% in the 1st quarter. AQR Capital Management LLC now owns 28,466 shares of the company's stock valued at $460,000 after purchasing an additional 17,253 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Colony Bankcorp by 10.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 98,128 shares of the company's stock valued at $1,585,000 after purchasing an additional 9,226 shares during the last quarter. Empowered Funds LLC raised its holdings in Colony Bankcorp by 28.8% during the 1st quarter. Empowered Funds LLC now owns 47,942 shares of the company's stock valued at $774,000 after buying an additional 10,709 shares during the period. Jane Street Group LLC lifted its position in Colony Bankcorp by 46.8% in the first quarter. Jane Street Group LLC now owns 41,462 shares of the company's stock worth $670,000 after buying an additional 13,216 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Colony Bankcorp by 3.0% in the second quarter. Geode Capital Management LLC now owns 367,897 shares of the company's stock worth $6,060,000 after buying an additional 10,798 shares during 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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