Oppenheimer & Close LLC Invests $958,000 in Colony Bankcorp, Inc. $CBAN

Oppenheimer & Close LLC purchased a new position in shares of Colony Bankcorp, Inc. (NYSE:CBAN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 53,750 shares of the company’s stock, valued at approximately $958,000. Oppenheimer & Close LLC owned approximately 0.25% of Colony Bankcorp as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Colony Bankcorp by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 385,600 shares of the company’s stock worth $6,873,000 after purchasing an additional 3,734 shares in the last quarter. Bailard Inc. bought a new position in shares of Colony Bankcorp during the fourth quarter worth $274,000. Thomasville National Bank bought a new position in shares of Colony Bankcorp during the fourth quarter worth $1,015,000. Daytona Street Capital LLC bought a new position in shares of Colony Bankcorp during the fourth quarter worth $164,000. Finally, Allen Mooney & Barnes Investment Advisors LLC bought a new position in shares of Colony Bankcorp during the fourth quarter worth $1,006,000. 50.37% of the stock is owned by institutional investors.

Colony Bankcorp Trading Up 0.4%

Shares of NYSE:CBAN opened at $19.79 on Friday. Colony Bankcorp, Inc. has a 12 month low of $14.63 and a 12 month high of $21.61. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $20.00 and its 200 day simple moving average is $19.11. The firm has a market cap of $418.65 million, a price-to-earnings ratio of 12.37 and a beta of 0.56.

Colony Bankcorp (NYSE:CBAN) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. Colony Bankcorp had a net margin of 14.83% and a return on equity of 10.23%. The firm had revenue of $39.90 million for the quarter, compared to analyst estimates of $42.10 million. As a group, research analysts forecast that Colony Bankcorp, Inc. will post 1.91 EPS for the current fiscal year.

Colony Bankcorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.4%. The ex-dividend date was Wednesday, May 6th. Colony Bankcorp’s payout ratio is presently 30.00%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CBAN. Wall Street Zen cut shares of Colony Bankcorp from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Hovde Group lifted their price target on shares of Colony Bankcorp from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Weiss Ratings upgraded shares of Colony Bankcorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, May 15th. Brean Capital upgraded shares of Colony Bankcorp from a “neutral” rating to a “buy” rating in a report on Monday, March 23rd. Finally, Zacks Research lowered shares of Colony Bankcorp from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Colony Bankcorp presently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

About Colony Bankcorp

Colony Bankcorp, Inc is a bank holding company headquartered in Baxley, Georgia, that operates through its primary subsidiary, The Colony Bank. The company’s core focus is on delivering community banking services tailored to individuals, small businesses and agricultural customers throughout Georgia and Florida. Colony Bankcorp’s structure supports a full suite of deposit and lending solutions designed to meet the needs of local markets.

The company offers a range of deposit products, including personal and business checking accounts, savings and money market accounts, and certificates of deposit.