Wall Street Zen Upgrades Colony Bankcorp (NYSE:CBAN) to “Buy”

Colony Bankcorp (NYSE:CBAN) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday, Wall Street Zen reports.

CBAN has been the topic of several other reports. Zacks Research downgraded Colony Bankcorp from a “strong-buy” rating to a “hold” rating in a report on Friday, September 11th. Weiss Ratings lowered shares of Colony Bankcorp from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Three equities research 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Colony Bankcorp Stock Performance

Shares of CBAN stock opened at $20.62 on Friday. The firm has a 50 day moving average of $20.64 and a two-hundred day moving average of $20.40. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $437.54 million, a PE ratio of 10.23 and a beta of 0.56. Colony Bankcorp has a 52 week low of $15.80 and a 52 week high of $22.46.

Colony Bankcorp (NYSE:CBAN) last released its quarterly earnings results 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 firm had revenue of $42.64 million for the quarter, compared to analyst estimates of $41.20 million. Colony Bankcorp had a return on equity of 10.73% and a net margin of 16.71%. On average, research analysts predict that Colony Bankcorp will post 2.07 EPS for the current fiscal year.

Insider Buying and Selling at Colony Bankcorp

In other Colony Bankcorp news, insider Edward Canup bought 2,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were bought at an average cost of $21.62 per share, with a total value of $43,240.00. Following the transaction, the insider directly owned 39,702 shares in the company, valued at approximately $858,357.24. This trade represents a 5.30% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have acquired 5,000 shares of company stock worth $107,690. Corporate insiders own 3.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Colony Bankcorp during the second quarter valued at about $46,935,000. Dimensional Fund Advisors LP boosted its holdings in shares of Colony Bankcorp by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 737,755 shares of the company’s stock valued at $14,732,000 after purchasing an additional 14,965 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Colony Bankcorp in the second quarter worth about $6,025,000. Hillsdale Investment Management Inc. raised its holdings in shares of Colony Bankcorp by 4.6% in the 1st quarter. Hillsdale Investment Management Inc. now owns 250,177 shares of the company’s stock valued at $4,996,000 after purchasing an additional 10,920 shares in the last quarter. Finally, Algert Global LLC lifted its stake 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 worth $4,570,000 after purchasing an additional 70,216 shares during the last quarter. 50.37% of the stock is owned by institutional investors and hedge funds.

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.