Colony Bankcorp (NYSE:CBAN) Shares Cross Below 200-Day Moving Average - Should You Sell?

Key Points

• Colony Bankcorp shares fell below their 200-day moving average, trading as low as $20.07 versus the $20.36 average and last changing hands at $20.27.
• Analyst sentiment remains moderately positive despite recent downgrades from several firms: three analysts rate CBAN a Buy and one rates it Hold, with an average price target of $23.00.
• The company exceeded quarterly expectations, reporting $0.54 in EPS and $42.72 million in revenue, while declaring a $0.12 quarterly dividend, equivalent to a 2.4% annual yield.

Colony Bankcorp, Inc. (NYSE:CBAN - Get Free Report)'s share price passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $20.36 and traded as low as $20.07. Colony Bankcorp shares last traded at $20.27, with a volume of 112,562 shares traded.

Analyst Ratings Changes

CBAN has been the topic of several recent research reports. Wall Street Zen lowered Colony Bankcorp from a "buy" rating to a "hold" rating in a report on Saturday, October 24th. Zacks Research downgraded Colony Bankcorp from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 11th. Finally, Weiss Ratings lowered Colony Bankcorp from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $23.00.

Colony Bankcorp Price Performance

The company has a market cap of $430.13 million, a price-to-earnings ratio of 12.28 and a beta of 0.56. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60. The company has a fifty day moving average price of $20.70 and a two-hundred day moving average price of $20.36.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last issued its earnings results on Wednesday, October 28th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.02. The business had revenue of $42.72 million during the quarter, compared to analyst estimates of $41.20 million. Colony Bankcorp had a return on equity of 10.40% and a net margin of 15.42%. As a group, equities research analysts anticipate that Colony Bankcorp, Inc. will post 2.00 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 issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, November 11th. Colony Bankcorp's payout ratio is 29.09%.

Insider Transactions at Colony Bankcorp

In other Colony Bankcorp news, insider Edward Canup acquired 2,000 shares of the company's stock in a transaction dated Wednesday, August 19th. The stock was bought at an average price of $21.62 per share, for a total transaction of $43,240.00. Following the purchase, the insider owned 39,702 shares in the company, valued at $858,357.24. This represents a 5.30% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have acquired 5,000 shares of company stock valued at $107,690. Insiders own 3.92% of the company's stock.

Hedge Funds Weigh In On Colony Bankcorp

A number of hedge funds and other institutional investors have recently made changes to their positions in CBAN. The Manufacturers Life Insurance Company bought a new position in Colony Bankcorp during the second quarter worth about $6,025,000. Empowered Funds LLC bought a new stake in shares of Colony Bankcorp in the 2nd quarter valued at approximately $1,569,000. Bank of New York Mellon Corp bought a new stake in shares of Colony Bankcorp in the 2nd quarter valued at approximately $1,343,000. Hsbc Holdings PLC acquired a new position in shares of Colony Bankcorp in the 2nd quarter worth approximately $1,103,000. Finally, Quantinno Capital Management LP raised its holdings in shares of Colony Bankcorp by 67.1% in the 1st quarter. Quantinno Capital Management LP now owns 64,827 shares of the company's stock worth $1,295,000 after buying an additional 26,031 shares in the last quarter. 50.37% of the stock is owned by institutional investors.

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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