BlackRock Inc. Buys New Stake in Colony Bankcorp, Inc. $CBAN

BlackRock Inc. acquired a new stake in Colony Bankcorp, Inc. (NYSE:CBAN - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,336,239 shares of the company's stock, valued at approximately $46,935,000. BlackRock Inc. owned 11.04% of Colony Bankcorp at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC raised its position in 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. raised its holdings in Colony Bankcorp by 10.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 98,128 shares of the company's stock worth $1,585,000 after purchasing an additional 9,226 shares during the last quarter. Empowered Funds LLC lifted its position 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 purchasing an additional 10,709 shares during the period. Jane Street Group LLC lifted its position in Colony Bankcorp by 46.8% during the 1st quarter. Jane Street Group LLC now owns 41,462 shares of the company's stock valued at $670,000 after purchasing an additional 13,216 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Colony Bankcorp by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 367,897 shares of the company's stock valued at $6,060,000 after purchasing an additional 10,798 shares during the last quarter. Institutional investors and hedge funds own 50.37% of the company's stock.

Colony Bankcorp Price Performance

CBAN opened at $21.11 on Tuesday. The stock has a market cap of $447.95 million, a P/E ratio of 12.79 and a beta of 0.55. Colony Bankcorp, Inc. has a 12 month low of $15.80 and a 12 month high of $22.46. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.60. The company has a fifty day simple moving average of $21.17 and a 200 day simple moving average of $20.45.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last released its quarterly earnings data 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. Colony Bankcorp had a return on equity of 10.40% and a net margin of 15.42%.The business had revenue of $42.03 million for the quarter, compared to analysts' expectations of $40.90 million. On average, research analysts expect that Colony Bankcorp, Inc. will post 1.92 EPS for the current year.

Colony Bankcorp Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, insider Edward G. Canup acquired 2,000 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The shares were acquired at an average cost of $21.62 per share, for a total transaction of $43,240.00. Following the completion of the acquisition, the insider directly 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 legal filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 7,000 shares of company stock worth $151,290 over the last ninety days. 3.92% of the stock is owned by corporate insiders.

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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