Colony Bankcorp (NASDAQ:CBAN) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Colony Bankcorp (NASDAQ:CBANGet Rating) posted its quarterly earnings data on Thursday. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.02), MarketWatch Earnings reports. Colony Bankcorp had a return on equity of 12.26% and a net margin of 17.40%.

Shares of NASDAQ CBAN traded down $0.21 during mid-day trading on Friday, reaching $17.58. 47 shares of the company’s stock were exchanged, compared to its average volume of 31,596. The firm has a market capitalization of $309.16 million, a price-to-earnings ratio of 10.53 and a beta of 0.49. Colony Bankcorp has a 52 week low of $14.50 and a 52 week high of $19.59. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.66 and a quick ratio of 0.64. The firm has a 50-day moving average price of $18.30 and a two-hundred day moving average price of $18.06.

A number of equities analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Colony Bankcorp in a report on Saturday, March 26th. They set a “hold” rating on the stock. DA Davidson assumed coverage on shares of Colony Bankcorp in a report on Wednesday, January 12th. They set a “buy” rating and a $21.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of Colony Bankcorp from a “buy” rating to a “hold” rating in a report on Tuesday.

In related news, CEO T Heath Fountain purchased 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 8th. The shares were purchased at an average cost of $16.50 per share, for a total transaction of $66,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director M Frederick Dwozan purchased 6,500 shares of the firm’s stock in a transaction dated Tuesday, February 8th. The shares were bought at an average price of $16.50 per share, for a total transaction of $107,250.00. The disclosure for this purchase can be found here. Insiders have bought a total of 18,560 shares of company stock worth $306,359 over the last quarter. Company insiders own 10.31% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of Colony Bankcorp by 283.4% during the second quarter. Royal Bank of Canada now owns 2,699 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,995 shares in the last quarter. Morgan Stanley boosted its stake in Colony Bankcorp by 10.0% in the third quarter. Morgan Stanley now owns 15,604 shares of the financial services provider’s stock worth $291,000 after buying an additional 1,420 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in Colony Bankcorp in the fourth quarter worth approximately $318,000. Northern Trust Corp boosted its stake in shares of Colony Bankcorp by 3.9% during the fourth quarter. Northern Trust Corp now owns 24,321 shares of the financial services provider’s stock valued at $415,000 after purchasing an additional 916 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Colony Bankcorp by 4.0% during the fourth quarter. BlackRock Inc. now owns 42,627 shares of the financial services provider’s stock valued at $727,000 after purchasing an additional 1,627 shares during the period. Hedge funds and other institutional investors own 37.04% of the company’s stock.

About Colony Bankcorp (Get Rating)

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 various 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.

See Also

Earnings History for Colony Bankcorp (NASDAQ:CBAN)

Receive News & Ratings for Colony Bankcorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colony Bankcorp and related companies with MarketBeat.com's FREE daily email newsletter.