Bank of New York Mellon Corp Makes New $1.34 Million Investment in Colony Bankcorp, Inc. $CBAN

Key Points

• Bank of New York Mellon initiated a $1.34 million position in Colony Bankcorp, purchasing 66,846 shares, while institutional investors collectively own 50.37% of the company.
• Colony Bankcorp exceeded quarterly expectations, reporting $0.52 in EPS versus the $0.48 consensus estimate and revenue of $42.03 million; analysts expect $1.92 in full-year EPS.
• The company maintains a quarterly dividend of $0.12 per share, or $0.48 annually, yielding approximately 2.3%. Analysts’ consensus rating is “Buy,” with a target price of $23 versus a recent price of $21.26.

Bank of New York Mellon Corp acquired a new position in shares of Colony Bankcorp, Inc. (NYSE:CBAN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 66,846 shares of the company's stock, valued at approximately $1,343,000. Bank of New York Mellon Corp owned approximately 0.32% of Colony Bankcorp at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CBAN. Versant Capital Management Inc boosted its holdings in Colony Bankcorp by 762.5% during the 2nd quarter. Versant Capital Management Inc now owns 5,175 shares of the company's stock valued at $104,000 after acquiring an additional 4,575 shares during the period. NewEdge Advisors LLC bought a new stake in Colony Bankcorp in the 1st quarter worth $89,000. Bank of America Corp DE grew its holdings in Colony Bankcorp by 45.8% in the 1st quarter. Bank of America Corp DE now owns 38,254 shares of the company's stock worth $764,000 after acquiring an additional 12,008 shares during the last quarter. Empowered Funds LLC increased its position in shares of Colony Bankcorp by 7.4% in the first quarter. Empowered Funds LLC now owns 72,384 shares of the company's stock valued at $1,446,000 after acquiring an additional 4,988 shares during the period. Finally, Quantinno Capital Management LP raised its stake 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 valued at $1,295,000 after acquiring an additional 26,031 shares during the last quarter. Hedge funds and other institutional investors own 50.37% of the company's stock.

Insider Buying and Selling

In related news, insider Edward Canup bought 2,000 shares of the business's stock in a transaction dated Wednesday, August 19th. The shares were purchased at an average cost of $21.62 per share, with a total value of $43,240.00. Following the completion of the purchase, the insider owned 39,702 shares in the company, valued at approximately $858,357.24. The trade was a 5.30% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired 7,000 shares of company stock valued at $151,290 over the last 90 days. Insiders own 3.92% of the company's stock.

Colony Bankcorp Price Performance

CBAN opened at $21.26 on Thursday. The stock has a fifty day simple moving average of $21.30 and a two-hundred day simple moving average of $20.50. 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 company has a market cap of $451.09 million, a price-to-earnings ratio of 12.88 and a beta of 0.54. Colony Bankcorp, Inc. has a 12-month low of $15.80 and a 12-month high of $22.46.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. Colony Bankcorp had a net margin of 15.42% and a return on equity of 10.40%. The firm had revenue of $42.03 million for the quarter, compared to analysts' expectations of $40.90 million. Research analysts predict that Colony Bankcorp, Inc. will post 1.92 earnings per share for the current fiscal year.

Colony Bankcorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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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