The Manufacturers Life Insurance Company Acquires Shares of 299,879 Colony Bankcorp, Inc. $CBAN

Key Points

• The Manufacturers Life Insurance Company acquired 299,879 shares of Colony Bankcorp, valued at approximately $6.0 million, giving it a 1.41% stake. Institutional investors collectively own 50.37% of CBAN.
• Colony Bankcorp exceeded quarterly expectations, reporting $0.52 in EPS versus the $0.48 consensus and revenue of $42.03 million versus $40.90 million expected.
• The company maintains a quarterly dividend of $0.12 per share, equivalent to an annualized $0.48 payout and a 2.3% yield. Analysts have an overall “Buy” rating with a consensus price target of $23.00.

The Manufacturers Life Insurance Company acquired a new stake in Colony Bankcorp, Inc. (NYSE:CBAN - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 299,879 shares of the company's stock, valued at approximately $6,025,000. The Manufacturers Life Insurance Company owned approximately 1.41% of Colony Bankcorp at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CBAN. Public Employees Retirement System of Ohio purchased a new position in Colony Bankcorp in the third quarter valued at $44,000. BNP Paribas Financial Markets raised its stake in Colony Bankcorp by 38.4% in the second quarter. BNP Paribas Financial Markets now owns 3,491 shares of the company's stock valued at $57,000 after buying an additional 969 shares in 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 worth $61,000 after buying an additional 1,630 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in Colony Bankcorp during the 1st quarter worth about $89,000. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Colony Bankcorp by 49.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,500 shares of the company's stock worth $80,000 after acquiring an additional 1,494 shares in the last quarter. 50.37% of the stock is owned by hedge funds and other institutional investors.

Colony Bankcorp Stock Performance

Shares of CBAN opened at $21.11 on Tuesday. The company's 50 day simple moving average is $21.17 and its 200-day simple moving average is $20.45. The firm has a market cap of $447.95 million, a PE 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 current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last released its quarterly 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 firm had revenue of $42.03 million during the quarter, compared to the consensus estimate of $40.90 million. Colony Bankcorp had a net margin of 15.42% and a return on equity of 10.40%. As a group, equities analysts predict that Colony Bankcorp, Inc. will post 1.92 EPS for the current year.

Colony Bankcorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CBAN. Weiss Ratings downgraded Colony Bankcorp from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Zacks Research upgraded Colony Bankcorp from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen downgraded Colony Bankcorp from a "buy" rating to a "hold" rating in a report 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 stock. Based on data from MarketBeat.com, Colony Bankcorp presently has an average rating of "Buy" and a consensus target price of $23.00.

Insider Buying and Selling at Colony Bankcorp

In other Colony Bankcorp news, insider Edward G. Canup bought 2,000 shares of the firm's stock in a transaction dated 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 purchase, the insider owned 39,702 shares of the company's stock, valued at approximately $858,357.24. This represents a 5.30% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 7,000 shares of company stock worth $151,290 in the last three months. 3.92% of the stock is currently owned by corporate insiders.

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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