DA Davidson Initiates Coverage on Colony Bankcorp (NASDAQ:CBAN)

DA Davidson assumed coverage on shares of Colony Bankcorp (NASDAQ:CBAN) in a research report released on Wednesday, PriceTargets.com reports. The firm issued a buy rating and a $21.00 price objective on the financial services provider’s stock. DA Davidson also issued estimates for Colony Bankcorp’s Q4 2021 earnings at $0.50 EPS, FY2021 earnings at $2.07 EPS and FY2022 earnings at $2.12 EPS.

Separately, Zacks Investment Research cut Colony Bankcorp from a buy rating to a hold rating in a research note on Monday, December 27th.

Shares of CBAN opened at $18.03 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.67 and a current ratio of 0.68. The stock has a 50 day simple moving average of $17.72 and a 200 day simple moving average of $17.99. Colony Bankcorp has a 52-week low of $13.70 and a 52-week high of $19.59. The firm has a market capitalization of $246.47 million, a PE ratio of 9.44 and a beta of 0.53.

Colony Bankcorp (NASDAQ:CBAN) last issued its quarterly earnings data on Wednesday, October 20th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.22. Colony Bankcorp had a return on equity of 12.85% and a net margin of 19.26%. The business had revenue of $27.31 million during the quarter, compared to analyst estimates of $27.11 million. Equities research analysts predict that Colony Bankcorp will post 2.06 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 17th. Shareholders of record on Wednesday, November 3rd were paid a $0.102 dividend. This represents a $0.41 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Tuesday, November 2nd. Colony Bankcorp’s payout ratio is 21.47%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its stake in Colony Bankcorp by 283.4% in the 2nd quarter. Royal Bank of Canada now owns 2,699 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 1,995 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of Colony Bankcorp during the 3rd quarter worth approximately $49,000. Rothschild Investment Corp IL bought a new stake in shares of Colony Bankcorp during the 3rd quarter worth approximately $211,000. Tibra Equities Europe Ltd bought a new stake in shares of Colony Bankcorp during the 2nd quarter worth approximately $263,000. Finally, Morgan Stanley raised its stake in shares of Colony Bankcorp by 10.0% during the 3rd quarter. Morgan Stanley now owns 15,604 shares of the financial services provider’s stock worth $291,000 after purchasing an additional 1,420 shares in the last quarter. Hedge funds and other institutional investors own 37.42% of the company’s stock.

About Colony Bankcorp

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 to include commercial loans, consumer loans and deposit accounts.

Further Reading: Stock Market – What is a circuit breaker?

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.