Banc Funds Co. LLC Has $9.19 Million Position in Colony Bankcorp, Inc. $CBAN

Key Points

• Banc Funds Co. LLC cut its stake in Colony Bankcorp by 13% in Q3 to 540,245 shares, now worth about $9.19 million and representing roughly 3.10% of the company.
• Colony Bankcorp beat quarterly estimates with EPS of $0.48 vs. $0.46, and increased its quarterly dividend to $0.12 (annualized $0.48, ~2.5% yield) with a payout ratio near 30%.
• Analysts carry a consensus "Moderate Buy" rating with a $22 target; the stock trades at a P/E of 12.17 and has a market capitalization of approximately $411 million.

Banc Funds Co. LLC cut its stake in Colony Bankcorp, Inc. (NYSE:CBAN - Free Report) by 13.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 540,245 shares of the company's stock after selling 80,914 shares during the quarter. Colony Bankcorp makes up approximately 1.6% of Banc Funds Co. LLC's investment portfolio, making the stock its 19th largest holding. Banc Funds Co. LLC owned approximately 3.10% of Colony Bankcorp worth $9,190,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CBAN. Bailard Inc. grew its stake in Colony Bankcorp by 83.9% in the 2nd quarter. Bailard Inc. now owns 30,903 shares of the company's stock valued at $509,000 after buying an additional 14,100 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Colony Bankcorp during the second quarter worth approximately $373,000. Segall Bryant & Hamill LLC acquired a new stake in Colony Bankcorp during the third quarter worth approximately $1,583,000. American Century Companies Inc. boosted its holdings in shares of Colony Bankcorp by 39.8% during the second quarter. American Century Companies Inc. now owns 218,878 shares of the company's stock worth $3,605,000 after acquiring an additional 62,322 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Colony Bankcorp by 211.2% during the second quarter. PNC Financial Services Group Inc. now owns 6,681 shares of the company's stock worth $110,000 after acquiring an additional 4,534 shares during the period. Institutional investors and hedge funds own 50.37% of the company's stock.

Colony Bankcorp Price Performance

Shares of Colony Bankcorp stock opened at $19.35 on Friday. Colony Bankcorp, Inc. has a twelve month low of $13.99 and a twelve month high of $21.46. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.82. The company has a 50-day simple moving average of $19.55 and a two-hundred day simple moving average of $17.95. The stock has a market capitalization of $411.29 million, a price-to-earnings ratio of 12.17 and a beta of 0.64.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last announced its earnings results on Wednesday, January 28th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.02. Colony Bankcorp had a net margin of 14.85% and a return on equity of 10.78%. The firm had revenue of $27.27 million for the quarter.

Colony Bankcorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.5%. This is an increase from Colony Bankcorp's previous quarterly dividend of $0.12. The ex-dividend date was Wednesday, February 11th. Colony Bankcorp's dividend payout ratio is presently 30.19%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CBAN. Zacks Research upgraded Colony Bankcorp to a "hold" rating in a research note on Friday, February 6th. Weiss Ratings reissued a "buy (b)" rating on shares of Colony Bankcorp in a report on Monday, December 29th. Finally, Hovde Group boosted their price target on Colony Bankcorp from $21.00 to $22.00 and gave the company an "outperform" rating in a research note on Monday, February 2nd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Colony Bankcorp currently has an average rating of "Moderate Buy" and a consensus target price of $22.00.

Colony Bankcorp 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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