Colony Bankcorp (NYSE:CBAN) Shares Cross Above 200 Day Moving Average - Here's Why

Colony Bankcorp, Inc. (NYSE:CBAN - Get Free Report) passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $20.44 and traded as high as $20.85. Colony Bankcorp shares last traded at $20.5840, with a volume of 245,887 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Zacks Research cut shares of Colony Bankcorp from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 11th. Weiss Ratings cut Colony Bankcorp from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen raised Colony Bankcorp from a "hold" rating to a "buy" rating in a research note on Sunday, November 1st. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $23.00.

Colony Bankcorp Trading Up 1.7%

The firm has a market capitalization of $436.79 million, a P/E ratio of 11.31 and a beta of 0.57. The business has a 50 day moving average of $20.55 and a 200-day moving average of $20.44. 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 posted its quarterly earnings data on Wednesday, October 28th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.02. The business had revenue of $42.64 million during the quarter, compared to the consensus estimate of $41.20 million. Colony Bankcorp had a return on equity of 10.73% and a net margin of 16.71%. Analysts anticipate that Colony Bankcorp, Inc. will post 2.07 EPS for the current fiscal year.

Colony Bankcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 11th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.48 annualized dividend and a yield of 2.3%. Colony Bankcorp's payout ratio is 26.37%.

Insider Transactions at Colony Bankcorp

In related news, insider Edward Canup bought 2,000 shares of the company's stock in a transaction that occurred on Wednesday, November 4th. The shares were acquired at an average price of $20.38 per share, for a total transaction of $40,760.00. Following the completion of the acquisition, the insider owned 43,702 shares of the company's stock, valued at approximately $890,646.76. The trade was a 4.80% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought a total of 8,000 shares of company stock worth $168,340 in the last 90 days. Corporate insiders own 3.92% of the company's stock.

Institutional Investors Weigh In On Colony Bankcorp

Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its holdings in shares of Colony Bankcorp by 9.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 24,244 shares of the company's stock worth $488,000 after acquiring an additional 2,130 shares during the last quarter. State of Wyoming acquired a new stake in Colony Bankcorp during the 3rd quarter valued at $202,000. State of Alaska Department of Revenue lifted its holdings in Colony Bankcorp by 75.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 1,783 shares of the company's stock valued at $35,000 after purchasing an additional 767 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Colony Bankcorp during the 2nd quarter valued at $939,000. Finally, Squarepoint Ops LLC bought a new position in Colony Bankcorp during the second quarter worth $286,000. 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 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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