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

Key Points

• Insider buying: Edward Canup purchased 1,000 Colony Bankcorp shares at an average price of $21.20, increasing his direct ownership by 2.46% to 41,702 shares.
• Financial performance: Colony Bankcorp exceeded quarterly expectations with earnings of $0.52 per share versus the $0.48 consensus and revenue of $42.03 million versus $40.90 million expected.
• Investor outlook: The company pays a $0.12 quarterly dividend, yielding about 2.3%, while analysts maintain a consensus “Buy” rating with a $23 price target. Institutional investors own 50.37% of the stock.

Colony Bankcorp, Inc. (NYSE:CBAN - Get Free Report) insider Edward Canup acquired 1,000 shares of the business's stock in a transaction dated Wednesday, August 26th. The stock was acquired at an average price of $21.20 per share, with a total value of $21,200.00. Following the completion of the transaction, the insider directly owned 41,702 shares of the company's stock, valued at approximately $884,082.40. This represents a 2.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Colony Bankcorp Price Performance

Shares of NYSE:CBAN traded down $0.07 during midday trading on Wednesday, reaching $21.11. 127,195 shares of the company's stock traded hands, compared to its average volume of 235,363. The company has a fifty day simple moving average of $21.12 and a two-hundred day simple moving average of $20.45. Colony Bankcorp, Inc. has a 1 year low of $15.80 and a 1 year high of $22.46. The company has a market cap of $447.95 million, a P/E ratio of 12.79 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 (NYSE:CBAN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates 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%. Equities analysts predict that Colony Bankcorp, Inc. will post 1.92 EPS for the current fiscal year.

Colony Bankcorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Wednesday, August 5th. Colony Bankcorp's dividend payout ratio is 29.09%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quantinno Capital Management LP grew its holdings in Colony Bankcorp by 67.1% in the 1st quarter. Quantinno Capital Management LP now owns 64,827 shares of the company's stock valued at $1,295,000 after buying an additional 26,031 shares in the last quarter. Nicholas Hoffman & Company LLC. purchased a new position in shares of Colony Bankcorp during the 1st quarter worth $1,068,000. Oppenheimer & Close LLC acquired a new position in shares of Colony Bankcorp during the 4th quarter valued at about $958,000. De Lisle Partners LLP acquired a new position in shares of Colony Bankcorp during the 2nd quarter valued at about $935,000. Finally, Globeflex Capital L P acquired a new position in shares of Colony Bankcorp during the 2nd quarter valued at about $885,000. 50.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CBAN has been the topic of several research analyst reports. Wall Street Zen cut Colony Bankcorp from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Zacks Research raised 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 report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $23.00.

About Colony Bankcorp

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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