Colony Bankcorp (NYSE:CBAN) Upgraded at Zacks Research

Zacks Research upgraded shares of Colony Bankcorp (NYSE:CBAN) from a hold rating to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. Weiss Ratings upgraded Colony Bankcorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, May 15th. Wall Street Zen cut Colony Bankcorp from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Brean Capital upgraded Colony Bankcorp from a “neutral” rating to a “buy” rating in a research report on Monday, March 23rd. Finally, Hovde Group boosted their target price on Colony Bankcorp from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, Colony Bankcorp presently has a consensus rating of “Buy” and a consensus price target of $23.00.

Colony Bankcorp Price Performance

Shares of NYSE:CBAN opened at $21.39 on Tuesday. The company’s fifty day moving average price is $20.15 and its 200-day moving average price is $19.85. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market capitalization of $452.59 million, a price-to-earnings ratio of 13.37 and a beta of 0.56. Colony Bankcorp has a one year low of $15.80 and a one year high of $21.61.

Colony Bankcorp (NYSE:CBAN) last announced its earnings results on Wednesday, April 22nd. The company reported $0.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.45. Colony Bankcorp had a net margin of 14.83% and a return on equity of 10.23%. The company had revenue of $39.90 million during the quarter, compared to analyst estimates of $42.10 million. On average, equities research analysts anticipate that Colony Bankcorp will post 1.92 earnings per share for the current fiscal year.

Colony Bankcorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were issued a $0.12 dividend. The ex-dividend date was Wednesday, May 6th. This represents a $0.48 annualized dividend and a dividend yield of 2.2%. Colony Bankcorp’s payout ratio is currently 30.00%.

Institutional Investors Weigh In On Colony Bankcorp

A number of hedge funds and other institutional investors have recently modified their holdings of CBAN. Allen Mooney & Barnes Investment Advisors LLC purchased a new position in Colony Bankcorp in the 4th quarter worth approximately $1,006,000. Thomasville National Bank purchased a new stake in shares of Colony Bankcorp during the fourth quarter valued at approximately $1,015,000. Oppenheimer & Close LLC purchased a new stake in shares of Colony Bankcorp during the fourth quarter valued at approximately $958,000. Nicholas Hoffman & Company LLC. purchased a new stake in shares of Colony Bankcorp during the first quarter valued at approximately $1,068,000. Finally, Fiduciary Alliance LLC bought a new position in shares of Colony Bankcorp in the first quarter worth approximately $205,000. Institutional investors own 50.37% of the company’s stock.

About Colony Bankcorp

Colony Bankcorp, Inc is a bank holding company headquartered in Baxley, Georgia, that operates through its primary subsidiary, The Colony Bank. The company’s core focus is on delivering community banking services tailored to individuals, small businesses and agricultural customers throughout Georgia and Florida. Colony Bankcorp’s structure supports a full suite of deposit and lending solutions designed to meet the needs of local markets.

The company offers a range of deposit products, including personal and business checking accounts, savings and money market accounts, and certificates of deposit.