Colony Bankcorp (NASDAQ:CBAN) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of Colony Bankcorp (NASDAQ:CBANGet Rating) from a hold rating to a sell rating in a research note issued to investors on Thursday, reports.

According to Zacks, “Colony Bankcorp, Inc., a multibank holding company, provides retail and commercial banking services to consumers and small to medium size businesses primarily in south Georgia. It offers various deposits, including interest bearing demand and savings deposits, checking accounts, and time deposits, as well as individual retirement accounts. Colony Bank’s philosophy is firmly grounded in the principle that banking is about relationships, not just products and technology. “

CBAN has been the topic of a number of other research reports. began coverage on shares of Colony Bankcorp in a research note on Saturday, March 26th. They issued a hold rating on the stock. DA Davidson started coverage on Colony Bankcorp in a research note on Wednesday, January 12th. They set a buy rating and a $21.00 target price on the stock.

Shares of NASDAQ CBAN opened at $17.18 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average price is $18.19 and its two-hundred day moving average price is $18.02. The company has a market cap of $302.13 million, a PE ratio of 11.38 and a beta of 0.49. Colony Bankcorp has a twelve month low of $15.30 and a twelve month high of $19.59.

Colony Bankcorp (NASDAQ:CBANGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). Colony Bankcorp had a net margin of 16.92% and a return on equity of 11.87%. As a group, research analysts anticipate that Colony Bankcorp will post 1.74 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 20th. Investors of record on Friday, May 6th will be given a dividend of $0.108 per share. This represents a $0.43 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Thursday, May 5th. Colony Bankcorp’s dividend payout ratio is 28.48%.

In related news, EVP M. Edward Jr. Hoyle acquired 3,000 shares of the company’s stock in a transaction on Tuesday, February 8th. The stock was purchased at an average cost of $16.50 per share, with a total value of $49,500.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO T Heath Fountain bought 4,000 shares of the business’s stock in a transaction dated Tuesday, February 8th. The shares were bought at an average price of $16.50 per share, with a total value of $66,000.00. The disclosure for this purchase can be found here. Insiders acquired a total of 18,560 shares of company stock valued at $306,359 in the last quarter. Corporate insiders own 10.31% of the company’s stock.

Several institutional investors have recently modified their holdings of CBAN. BlackRock Inc. raised its position in 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 in the last quarter. Susquehanna International Group LLP acquired a new stake in Colony Bankcorp in the fourth quarter valued at about $318,000. Geode Capital Management LLC grew its position in Colony Bankcorp by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 54,546 shares of the financial services provider’s stock valued at $931,000 after acquiring an additional 3,481 shares during the last quarter. Northern Trust Corp raised its stake in Colony Bankcorp by 3.9% during the fourth quarter. Northern Trust Corp now owns 24,321 shares of the financial services provider’s stock worth $415,000 after acquiring an additional 916 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new position in shares of Colony Bankcorp in the third quarter worth about $907,000. 37.04% of the stock is owned by institutional investors.

Colony Bankcorp Company Profile (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.

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