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

Key Points

• Insider Edward Canup bought 1,000 shares at an average price of $19.89, increasing his holdings by 2.29% to 44,702 shares.
• Colony Bankcorp beat quarterly estimates, reporting EPS of $0.54 versus $0.52 expected and revenue of $42.64 million versus $41.20 million expected.
• The company declared a quarterly dividend of $0.12 per share, equivalent to an annualized yield of 2.4%; analysts’ consensus rating is “Moderate Buy,” with an average price target of $23.

Colony Bankcorp, Inc. (NYSE:CBAN - Get Free Report) insider Edward Canup acquired 1,000 shares of Colony Bankcorp stock in a transaction on Thursday, November 5th. The shares were bought at an average cost of $19.89 per share, with a total value of $19,890.00. Following the completion of the transaction, the insider owned 44,702 shares of the company's stock, valued at approximately $889,122.78. This trade represents a 2.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Colony Bankcorp Stock Performance

Colony Bankcorp stock traded down $0.67 during trading hours on Thursday, hitting $19.92. The company had a trading volume of 159,444 shares, compared to its average volume of 211,694. The firm has a 50-day moving average of $20.61 and a 200 day moving average of $20.42. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $422.79 million, a PE ratio of 10.95 and a beta of 0.57. Colony Bankcorp, Inc. has a one year low of $15.90 and a one year high of $22.46.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last announced its earnings results on Wednesday, October 28th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.02. Colony Bankcorp had a net margin of 16.71% and a return on equity of 10.73%. The company had revenue of $42.64 million during the quarter, compared to analysts' expectations of $41.20 million. On average, sell-side analysts expect that Colony Bankcorp, Inc. will post 2.07 earnings per share for the current year.

Colony Bankcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Wednesday, November 11th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.4%. Colony Bankcorp's payout ratio is 26.37%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Colony Bankcorp during the second quarter valued at approximately $46,935,000. Dimensional Fund Advisors LP raised its position in shares of Colony Bankcorp by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 737,755 shares of the company's stock worth $14,732,000 after purchasing an additional 14,965 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of Colony Bankcorp in the 2nd quarter worth $6,025,000. Hillsdale Investment Management Inc. lifted its holdings in shares of Colony Bankcorp by 4.6% in the 1st quarter. Hillsdale Investment Management Inc. now owns 250,177 shares of the company's stock worth $4,996,000 after purchasing an additional 10,920 shares in the last quarter. Finally, Algert Global LLC grew its position in Colony Bankcorp by 44.6% in the 2nd quarter. Algert Global LLC now owns 227,476 shares of the company's stock valued at $4,570,000 after purchasing an additional 70,216 shares during the period. Institutional investors own 50.37% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wall Street Zen raised Colony Bankcorp from a "hold" rating to a "buy" rating in a report on Sunday. Zacks Research cut Colony Bankcorp from a "strong-buy" rating to a "hold" rating in a report on Friday, September 11th. Finally, Weiss Ratings downgraded Colony Bankcorp from a "buy (b+)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $23.00.

Colony Bankcorp Company Profile

Colony Bankcorp, Inc is a bank holding company headquartered in Fitzgerald, Georgia. Through its wholly owned subsidiary, Colony Bank, the company provides banking and financial services to individuals, families, businesses and institutions. Colony Bank has roots dating to 1935 and operates as a community-focused financial institution serving markets across Georgia and neighboring areas.

The bank offers a range of personal and business deposit accounts, consumer and commercial loans, mortgage lending, treasury management and other banking services.

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