Colony Bankcorp (NASDAQ:CBAN) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Colony Bankcorp (NASDAQ:CBAN) from a buy rating to a hold rating in a research note published on Wednesday morning.

Colony Bankcorp Stock Performance

CBAN opened at $17.57 on Wednesday. The company has a market cap of $308.00 million, a price-to-earnings ratio of 14.06 and a beta of 0.57. The company’s fifty day moving average price is $15.77 and its two-hundred day moving average price is $14.00. Colony Bankcorp has a 1-year low of $10.33 and a 1-year high of $18.03. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.90.

Colony Bankcorp (NASDAQ:CBAN) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $44.69 million during the quarter, compared to analyst estimates of $28.67 million. Colony Bankcorp had a return on equity of 8.86% and a net margin of 12.75%. During the same period in the previous year, the company posted $0.34 EPS. On average, analysts expect that Colony Bankcorp will post 1.33 EPS for the current fiscal year.

Colony Bankcorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th were given a dividend of $0.112 per share. This represents a $0.45 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Wednesday, November 6th. Colony Bankcorp’s payout ratio is currently 36.00%.

Institutional Investors Weigh In On Colony Bankcorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new stake in shares of Colony Bankcorp during the first quarter valued at approximately $123,000. Rothschild Investment LLC purchased a new stake in shares of Colony Bankcorp during the 2nd quarter worth approximately $139,000. Ritholtz Wealth Management lifted its stake in Colony Bankcorp by 8.9% in the second quarter. Ritholtz Wealth Management now owns 26,753 shares of the financial services provider’s stock valued at $328,000 after purchasing an additional 2,193 shares during the last quarter. BNP Paribas Financial Markets increased its position in Colony Bankcorp by 47.9% in the first quarter. BNP Paribas Financial Markets now owns 36,252 shares of the financial services provider’s stock worth $417,000 after buying an additional 11,746 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of Colony Bankcorp by 44.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 44,589 shares of the financial services provider’s stock valued at $513,000 after buying an additional 13,701 shares during the last quarter. Hedge funds and other institutional investors own 50.37% of the company’s stock.

About Colony Bankcorp

Colony Bankcorp, Inc operates as the bank holding company for Colony Bank that provides various banking products and services to commercial and consumer customers. The company offers deposit products, including demand, savings, and time deposits. It also provides loans to small and medium-sized businesses; residential and commercial construction, and land development loans; commercial real estate loans; commercial loans; agri-business and production loans; residential mortgage loans; home equity loans; and consumer loans.