Colony Bankcorp (NASDAQ:CBAN) Upgraded by StockNews.com to Buy Rating

Colony Bankcorp (NASDAQ:CBAN) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Colony Bankcorp Stock Performance

Shares of CBAN opened at $17.62 on Thursday. The company has a 50-day simple moving average of $15.86 and a 200-day simple moving average of $14.12. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $308.88 million, a PE ratio of 14.10 and a beta of 0.57. Colony Bankcorp has a 52-week low of $10.33 and a 52-week high of $18.42.

Colony Bankcorp (NASDAQ:CBAN) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $44.69 million during the quarter, compared to the consensus estimate of $28.67 million. Colony Bankcorp had a net margin of 12.75% and a return on equity of 8.86%. During the same quarter last year, the firm posted $0.34 EPS. Equities research analysts predict that Colony Bankcorp will post 1.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Colony Bankcorp

Several hedge funds have recently added to or reduced their stakes in the business. Quadrature Capital Ltd purchased a new stake in shares of Colony Bankcorp during the first quarter worth about $123,000. Rothschild Investment LLC acquired a new stake in shares of Colony Bankcorp in the second quarter worth approximately $139,000. Ritholtz Wealth Management boosted its position in shares of Colony Bankcorp by 8.9% in the second quarter. Ritholtz Wealth Management now owns 26,753 shares of the financial services provider’s stock worth $328,000 after acquiring an additional 2,193 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Colony Bankcorp by 5.2% in the third quarter. Empowered Funds LLC now owns 35,478 shares of the financial services provider’s stock worth $551,000 after acquiring an additional 1,742 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Colony Bankcorp by 116.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,285 shares of the financial services provider’s stock worth $579,000 after acquiring an additional 20,031 shares during the last quarter. 50.37% of the stock is currently owned by hedge funds and other institutional investors.

About Colony Bankcorp

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 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.