Empowered Funds LLC Makes New $1.57 Million Investment in Colony Bankcorp, Inc. $CBAN

Key Points

• Empowered Funds LLC acquired 78,113 shares of Colony Bankcorp in the second quarter, valued at approximately $1.57 million and representing about 0.37% of the company. Institutional investors collectively own 50.37% of CBAN.
• Analysts maintain an overall “Buy” rating with an average price target of $23.00, while the bank’s latest quarterly results exceeded expectations with $0.52 in EPS and $42.03 million in revenue.
• Colony Bankcorp reported recent insider buying, including a 2,000-share purchase by Edward Canup, and pays a quarterly dividend of $0.12 per share, equal to a 2.2% annualized yield.

Empowered Funds LLC bought a new stake in shares of Colony Bankcorp, Inc. (NYSE:CBAN - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 78,113 shares of the company's stock, valued at approximately $1,569,000. Empowered Funds LLC owned approximately 0.37% of Colony Bankcorp as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legal & General Group Plc acquired a new stake in shares of Colony Bankcorp in the 2nd quarter valued at $42,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Colony Bankcorp during the 3rd quarter worth about $44,000. BNP Paribas Financial Markets lifted its holdings in Colony Bankcorp by 38.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,491 shares of the company's stock valued at $57,000 after purchasing an additional 969 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Colony Bankcorp by 83.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,593 shares of the company's stock valued at $61,000 after purchasing an additional 1,630 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in Colony Bankcorp by 49.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,500 shares of the company's stock valued at $80,000 after buying an additional 1,494 shares in the last quarter. Institutional investors own 50.37% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Colony Bankcorp

In related news, insider Edward Canup acquired 2,000 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The stock was acquired at an average price of $21.62 per share, for a total transaction of $43,240.00. Following the completion of the acquisition, the insider owned 39,702 shares of the company's stock, valued at $858,357.24. This trade represents a 5.30% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders acquired 7,000 shares of company stock worth $151,290 over the last ninety days. 3.92% of the stock is owned by insiders.

Colony Bankcorp Price Performance

Shares of CBAN stock opened at $21.49 on Friday. Colony Bankcorp, Inc. has a 52-week low of $15.80 and a 52-week high of $22.46. The stock has a market cap of $456.02 million, a PE ratio of 13.02 and a beta of 0.54. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 0.88. The firm's 50 day moving average price is $21.21 and its two-hundred day moving average price is $20.47.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $0.52 EPS 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 analysts' expectations of $40.90 million. Colony Bankcorp had a net margin of 15.42% and a return on equity of 10.40%. As a group, analysts forecast that Colony Bankcorp, Inc. will post 1.92 EPS for the current year.

Colony Bankcorp Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.2%. Colony Bankcorp's payout ratio is 29.09%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source