Insider Buying: Colony Bankcorp (NYSE:CBAN) Insider Purchases 2,000 Shares of Stock

Key Points

• Insider purchase: Edward Canup bought 2,000 Colony Bankcorp shares at an average price of $21.62, investing $43,240 and increasing his direct ownership by 5.3% to 39,702 shares.
• Financial performance: Colony Bankcorp’s latest quarterly results exceeded expectations, with EPS of $0.52 versus the $0.48 consensus and revenue of $42.03 million compared with estimates of $40.90 million.
• Investor outlook: The company maintains a quarterly dividend of $0.12 per share, equivalent to a 2.3% yield, while analysts give the stock an average “Buy” rating and a $23 price target.

Colony Bankcorp, Inc. (NYSE:CBAN - Get Free Report) insider Edward Canup bought 2,000 shares of Colony Bankcorp stock in a transaction 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 transaction, the insider directly owned 39,702 shares of the company's stock, valued at approximately $858,357.24. This trade represents a 5.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Colony Bankcorp Trading Down 0.6%

Shares of Colony Bankcorp stock traded down $0.13 during trading hours on Thursday, hitting $21.31. The company's stock had a trading volume of 123,519 shares, compared to its average volume of 237,548. The stock has a market cap of $452.20 million, a price-to-earnings ratio of 12.92 and a beta of 0.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 0.88. Colony Bankcorp, Inc. has a twelve month low of $15.80 and a twelve month high of $22.46. The firm has a fifty day moving average of $21.08 and a 200-day moving average of $20.42.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 10.40% and a net margin of 15.42%. Research analysts forecast that Colony Bankcorp, Inc. will post 1.92 EPS for the current year.

Colony Bankcorp Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.3%. Colony Bankcorp's dividend payout ratio (DPR) is currently 29.09%.

Institutional Investors Weigh In On Colony Bankcorp

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Colony Bankcorp during the second quarter worth $46,935,000. Fourthstone LLC raised its stake in shares of Colony Bankcorp by 165.9% in the fourth quarter. Fourthstone LLC now owns 1,711,213 shares of the company's stock valued at $30,494,000 after acquiring an additional 1,067,540 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Colony Bankcorp in the second quarter valued at $6,025,000. Hotchkis & Wiley Capital Management LLC purchased a new position in Colony Bankcorp in the third quarter valued at $3,148,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Colony Bankcorp during the 2nd quarter worth $1,783,000. 50.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CBAN shares. Weiss Ratings lowered shares of Colony Bankcorp from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Wall Street Zen lowered Colony Bankcorp from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Zacks Research upgraded Colony Bankcorp from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Finally, Hovde Group upped their price target on Colony Bankcorp from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. According to data from MarketBeat, Colony Bankcorp presently has an average rating of "Buy" and an average price target of $23.00.

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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