Connor Clark & Lunn Investment Management Ltd. Purchases New Holdings in Colony Bankcorp, Inc. $CBAN

Key Points

• Connor Clark & Lunn Investment Management purchased 88,748 shares of Colony Bankcorp worth approximately $1.78 million, while institutional investors collectively own 50.37% of the company.
• Colony Bankcorp reported quarterly earnings of $0.52 per share, beating estimates by $0.04, and revenue of $42.03 million versus expectations of $40.90 million.
• Analysts maintain an overall “Buy” rating with a $23.00 average price target; the stock recently traded at $21.34 and pays a quarterly dividend of $0.12, yielding about 2.2%.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Colony Bankcorp, Inc. (NYSE:CBAN - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 88,748 shares of the company's stock, valued at approximately $1,783,000. Connor Clark & Lunn Investment Management Ltd. owned 0.42% of Colony Bankcorp at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quantinno Capital Management LP boosted its holdings in shares of Colony Bankcorp by 67.1% in the 1st quarter. Quantinno Capital Management LP now owns 64,827 shares of the company's stock worth $1,295,000 after buying an additional 26,031 shares during the last quarter. Nicholas Hoffman & Company LLC. bought a new position in Colony Bankcorp during the first quarter valued at about $1,068,000. De Lisle Partners LLP purchased a new stake in Colony Bankcorp during the second quarter worth about $935,000. Oppenheimer & Close LLC bought a new stake in Colony Bankcorp in the fourth quarter worth about $958,000. Finally, Globeflex Capital L P bought a new stake in Colony Bankcorp in the second quarter worth about $885,000. Hedge funds and other institutional investors own 50.37% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CBAN. Wall Street Zen downgraded shares of Colony Bankcorp from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Zacks Research raised shares of Colony Bankcorp from a "hold" rating to a "strong-buy" rating in a 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 research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $23.00.

Colony Bankcorp Price Performance

NYSE CBAN opened at $21.34 on Friday. 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 market cap of $452.86 million, a PE ratio of 12.93 and a beta of 0.55. Colony Bankcorp, Inc. has a 52 week low of $15.80 and a 52 week high of $22.46. The firm's 50-day simple moving average is $21.17 and its two-hundred day simple moving average is $20.45.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last announced its quarterly 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 company 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 year.

Colony Bankcorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 5th. This represents a $0.48 annualized dividend and a dividend yield of 2.2%. Colony Bankcorp's dividend payout ratio is currently 29.09%.

Insider Activity

In related news, insider Edward G. Canup purchased 2,000 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was purchased at an average cost of $21.62 per share, with a total value of $43,240.00. Following the completion of the acquisition, the insider directly owned 39,702 shares of the company's stock, valued at approximately $858,357.24. The trade was a 5.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired a total of 7,000 shares of company stock worth $151,290 in the last quarter. Corporate insiders own 3.92% of the company's stock.

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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