Insider Buying: Colony Bankcorp (NYSE:CBAN) Insider Purchases 1,000 Shares of Stock

Key Points

• Insider purchase: Director Edward Canup bought 1,000 shares on April 24 at an average price of $19.97 ($19,970 total), raising his holdings to 28,969 shares (a 3.58% increase).
• Dividend announced: Colony Bankcorp declared a quarterly dividend of $0.12 per share (annualized $0.48) with an ex-dividend date of May 6 and payment on May 20, implying a yield of about 2.4% and a payout ratio of 30%.
• Financials and sentiment: Q1 EPS of $0.45 met estimates while revenue of $30.93M missed expectations; the stock trades near $19.66 with a P/E of 12.29 and carries an average analyst rating of “Buy” with a $23 target.

Colony Bankcorp, Inc. (NYSE:CBAN - Get Free Report) insider Edward Canup acquired 1,000 shares of Colony Bankcorp stock in a transaction dated Friday, April 24th. The shares were acquired at an average price of $19.97 per share, with a total value of $19,970.00. Following the transaction, the insider owned 28,969 shares in the company, valued at approximately $578,510.93. This represents a 3.58% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Colony Bankcorp Price Performance

Shares of NYSE:CBAN traded down $0.46 during trading hours on Wednesday, hitting $19.66. 224,889 shares of the company's stock traded hands, compared to its average volume of 210,083. Colony Bankcorp, Inc. has a 52 week low of $14.63 and a 52 week high of $21.61. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 0.88. The company's fifty day simple moving average is $20.07 and its two-hundred day simple moving average is $18.64. The company has a market cap of $416.13 million, a price-to-earnings ratio of 12.29 and a beta of 0.61.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. Colony Bankcorp had a net margin of 14.83% and a return on equity of 10.68%. The company had revenue of $30.93 million during the quarter, compared to analysts' expectations of $42.10 million. As a group, equities analysts anticipate that Colony Bankcorp, Inc. will post 1.91 EPS for the current fiscal year.

Colony Bankcorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, May 6th. Colony Bankcorp's dividend payout ratio (DPR) is presently 30.00%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Colony Bankcorp in a research report on Friday, March 27th. Wall Street Zen lowered shares of Colony Bankcorp from a "buy" rating to a "hold" rating in a research report on Sunday, March 29th. Brean Capital raised shares of Colony Bankcorp from a "neutral" rating to a "buy" rating in a research report on Monday, March 23rd. Hovde Group lifted their price target on shares of Colony Bankcorp from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Finally, Zacks Research raised shares of Colony Bankcorp from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. Based on data from MarketBeat.com, Colony Bankcorp has an average rating of "Buy" and an average target price of $23.00.

Institutional Investors Weigh In On Colony Bankcorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fourthstone LLC lifted its position in Colony Bankcorp by 165.9% during the 4th quarter. Fourthstone LLC now owns 1,711,213 shares of the company's stock worth $30,494,000 after buying an additional 1,067,540 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in Colony Bankcorp during the 3rd quarter worth about $3,148,000. Segall Bryant & Hamill LLC acquired a new position in Colony Bankcorp during the 3rd quarter worth about $1,583,000. Squarepoint Ops LLC acquired a new position in Colony Bankcorp during the 3rd quarter worth about $1,016,000. Finally, Thomasville National Bank acquired a new position in Colony Bankcorp during the 4th quarter worth about $1,015,000. Institutional investors and hedge funds own 50.37% of the company's stock.

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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