Algert Global LLC Boosts Stake in Colony Bankcorp, Inc. $CBAN

Key Points

• Algert Global increased its Colony Bankcorp stake by 44.6% in the second quarter, bringing its holdings to 227,476 shares valued at approximately $4.57 million. Hedge funds and other institutional investors collectively own 50.37% of CBAN.
• Colony Bankcorp reported quarterly earnings of $0.52 per share, beating estimates by $0.04, while revenue of $42.03 million also exceeded expectations. The company maintains a $0.12 quarterly dividend, equivalent to a 2.3% yield.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $23.00, compared with the stock’s recent price of $21.27.

Algert Global LLC raised its stake in shares of Colony Bankcorp, Inc. (NYSE:CBAN - Free Report) by 44.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 227,476 shares of the company's stock after acquiring an additional 70,216 shares during the quarter. Algert Global LLC owned approximately 1.07% of Colony Bankcorp worth $4,570,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Quantinno Capital Management LP increased its position in shares of Colony Bankcorp by 67.1% during the first quarter. Quantinno Capital Management LP now owns 64,827 shares of the company's stock worth $1,295,000 after purchasing an additional 26,031 shares in the last quarter. Nicholas Hoffman & Company LLC. purchased a new position in Colony Bankcorp in the 1st quarter valued at $1,068,000. Oppenheimer & Close LLC acquired a new stake in Colony Bankcorp during the 4th quarter worth $958,000. De Lisle Partners LLP acquired a new stake in Colony Bankcorp during the 2nd quarter worth $935,000. Finally, Globeflex Capital L P purchased a new stake in shares of Colony Bankcorp during the second quarter worth $885,000. 50.37% of the stock is owned by hedge funds and other institutional investors.

Colony Bankcorp Trading Up 0.5%

Shares of NYSE CBAN opened at $21.27 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $451.35 million, a PE ratio of 12.89 and a beta of 0.55. Colony Bankcorp, Inc. has a twelve month low of $15.80 and a twelve month high of $22.46. The stock has a fifty day simple moving average of $21.15 and a 200-day simple moving average of $20.45.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $42.03 million during the quarter, compared to the consensus estimate of $40.90 million. Colony Bankcorp had a return on equity of 10.40% and a net margin of 15.42%. On average, equities analysts forecast that Colony Bankcorp, Inc. will post 1.92 earnings per share for the current year.

Colony Bankcorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, August 5th. Colony Bankcorp's payout ratio is presently 29.09%.

Insiders Place Their Bets

In other news, insider Edward G. Canup acquired 2,000 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was acquired at an average cost of $21.62 per share, with a total value of $43,240.00. Following the transaction, the insider owned 39,702 shares in the company, valued at approximately $858,357.24. This trade represents a 5.30% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased a total of 7,000 shares of company stock valued at $151,290 over the last 90 days. 3.92% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CBAN has been the topic of a number of recent research reports. Weiss Ratings lowered Colony Bankcorp from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Zacks Research raised shares of Colony Bankcorp from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen downgraded shares of Colony Bankcorp from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat.com, Colony Bankcorp presently has a consensus rating of "Buy" and an average price target of $23.00.

Colony Bankcorp Company Profile

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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