DA Davidson Weighs in on Colony Bankcorp, Inc.’s Q1 2023 Earnings (NASDAQ:CBAN)

Colony Bankcorp, Inc. (NASDAQ:CBAN – Get Rating) – DA Davidson issued their Q1 2023 earnings estimates for Colony Bankcorp in a research report issued on Friday, March 10th. DA Davidson analyst K. Fitzsimmons forecasts that the financial services provider will post earnings of $0.28 per share for the quarter. DA Davidson has a “Neutral” rating on the stock. The consensus estimate for Colony Bankcorp’s current full-year earnings is $1.27 per share. DA Davidson also issued estimates for Colony Bankcorp’s FY2024 earnings at $1.35 EPS.

Colony Bankcorp (NASDAQ:CBAN – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.04). Colony Bankcorp had a return on equity of 9.23% and a net margin of 15.44%. The company had revenue of $29.09 million for the quarter, compared to analyst estimates of $30.31 million.

Several other brokerages also recently issued reports on CBAN. TheStreet downgraded Colony Bankcorp from a “b-” rating to a “c+” rating in a report on Thursday, March 2nd. Janney Montgomery Scott cut Colony Bankcorp from a “buy” rating to a “neutral” rating and set a $14.00 target price on the stock. in a research report on Wednesday, February 15th.

Colony Bankcorp Price Performance

NASDAQ CBAN opened at $11.09 on Monday. The stock has a market cap of $195.64 million, a price-to-earnings ratio of 9.73 and a beta of 0.55. Colony Bankcorp has a 52-week low of $10.98 and a 52-week high of $18.98. The business has a 50 day simple moving average of $12.71 and a 200 day simple moving average of $13.29. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.69 and a current ratio of 0.70.

Colony Bankcorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 23rd. Investors of record on Thursday, February 9th were issued a dividend of $0.11 per share. This is a boost from Colony Bankcorp’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 8th. This represents a $0.44 dividend on an annualized basis and a yield of 3.97%. Colony Bankcorp’s dividend payout ratio is 38.60%.

Insider Buying and Selling

In other Colony Bankcorp news, CEO T Heath Fountain purchased 3,000 shares of the stock in a transaction on Tuesday, March 7th. The shares were purchased at an average price of $12.04 per share, with a total value of $36,120.00. Following the acquisition, the chief executive officer now directly owns 17,811 shares in the company, valued at approximately $214,444.44. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.69% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Colony Bankcorp

Large investors have recently made changes to their positions in the business. Advisor Group Holdings Inc. lifted its stake in shares of Colony Bankcorp by 172.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,508 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 954 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Colony Bankcorp by 1,014.3% in the 1st quarter. JPMorgan Chase & Co. now owns 10,006 shares of the financial services provider’s stock worth $186,000 after purchasing an additional 9,108 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Colony Bankcorp by 18.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 58,697 shares of the financial services provider’s stock worth $1,096,000 after acquiring an additional 9,350 shares during the period. Citigroup Inc. bought a new stake in shares of Colony Bankcorp in the first quarter worth $227,000. Finally, BlackRock Inc. grew its holdings in shares of Colony Bankcorp by 82.0% in the first quarter. BlackRock Inc. now owns 77,590 shares of the financial services provider’s stock worth $1,447,000 after acquiring an additional 34,963 shares during the period. 50.30% of the stock is currently owned by institutional investors.

About Colony Bankcorp

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Colony Bankcorp, Inc is a bank holding company, which engages in the stockholder and investor relations functions through its subsidiary, Colony Bank. It operates through the following segments: Banking Division, Mortgage Division, and Small Business Specialty Lending Division. The Banking Division segment offers full service financial services including commercial loans, consumer loans and deposit accounts.