Insider Buying: Colony Bankcorp (NYSE:CBAN) Insider Buys $40,760.00 in Stock

Key Points

• Insider Edward Canup bought 2,000 shares for $40,760, increasing his ownership by 4.8% to 43,702 shares.
• Colony Bankcorp’s latest quarter beat estimates, reporting EPS of $0.54 versus $0.52 expected and revenue of $42.64 million versus $41.20 million expected. The stock fell 3.2% to $19.92 in Thursday trading.
• The company declared a quarterly dividend of $0.12 per share, equivalent to a 2.4% annual yield. Analysts’ consensus rating is “Moderate Buy,” with a $23 average price target.

Colony Bankcorp, Inc. (NYSE:CBAN - Get Free Report) insider Edward Canup acquired 2,000 shares of the stock in a transaction dated Wednesday, November 4th. The stock was purchased at an average cost of $20.38 per share, with a total value of $40,760.00. Following the purchase, the insider directly owned 43,702 shares of the company's stock, valued at $890,646.76. This trade represents a 4.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Colony Bankcorp Trading Down 3.2%

CBAN stock traded down $0.67 during trading on Thursday, hitting $19.92. The company had a trading volume of 159,444 shares, compared to its average volume of 211,694. The business has a 50-day moving average of $20.61 and a 200-day moving average of $20.42. Colony Bankcorp, Inc. has a one year low of $15.90 and a one year high of $22.46. The stock has a market cap of $422.79 million, a PE ratio of 10.95 and a beta of 0.57. 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 announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.54 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $41.20 million. Research analysts predict that Colony Bankcorp, Inc. will post 2.07 earnings per share for the current fiscal year.

Colony Bankcorp Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Colony Bankcorp during the second quarter valued at approximately $46,935,000. Dimensional Fund Advisors LP raised its holdings in Colony Bankcorp by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 737,755 shares of the company's stock valued at $14,732,000 after acquiring an additional 14,965 shares during the period. The Manufacturers Life Insurance Company purchased a new position in Colony Bankcorp in the 2nd quarter worth approximately $6,025,000. Hillsdale Investment Management Inc. lifted its holdings in shares of Colony Bankcorp by 4.6% in the first quarter. Hillsdale Investment Management Inc. now owns 250,177 shares of the company's stock worth $4,996,000 after buying an additional 10,920 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in shares of Colony Bankcorp by 44.6% during 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 last quarter. Hedge funds and other institutional investors own 50.37% of the company's stock.

Wall Street Analyst Weigh In

CBAN has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Colony Bankcorp from a "hold" rating to a "buy" rating in a research note on Sunday. Weiss Ratings lowered shares of Colony Bankcorp from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Finally, Zacks Research lowered shares of Colony Bankcorp from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 11th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Colony Bankcorp currently has an average rating of "Moderate Buy" and a consensus price target of $23.00.

About Colony Bankcorp

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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