Colony Bankcorp (NYSE:CBAN) Posts Earnings Results, Beats Estimates By $0.04 EPS

Colony Bankcorp (NYSE:CBAN) announced its quarterly earnings data on Wednesday. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04, FiscalAI reports. The firm had revenue of $42.03 million during the quarter, compared to analysts’ expectations of $40.90 million. Colony Bankcorp had a net margin of 14.83% and a return on equity of 10.23%.

Colony Bankcorp Stock Performance

Shares of CBAN opened at $20.56 on Thursday. Colony Bankcorp has a 12-month low of $15.80 and a 12-month high of $21.61. The stock has a market cap of $435.05 million, a P/E ratio of 12.85 and a beta of 0.56. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average of $20.24 and a two-hundred day moving average of $19.93.

Colony Bankcorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, August 5th. This represents a $0.48 dividend on an annualized basis and a yield of 2.3%. Colony Bankcorp’s payout ratio is presently 30.00%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new stake in Colony Bankcorp in the 3rd quarter valued at approximately $44,000. BNP Paribas Financial Markets increased its position in Colony Bankcorp by 38.4% during the second quarter. BNP Paribas Financial Markets now owns 3,491 shares of the company’s stock worth $57,000 after buying an additional 969 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Colony Bankcorp by 83.0% in the third quarter. Russell Investments Group Ltd. now owns 3,593 shares of the company’s stock worth $61,000 after acquiring an additional 1,630 shares during the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of Colony Bankcorp in the second quarter worth $203,000. Finally, Jump Financial LLC lifted its position in shares of Colony Bankcorp by 35.9% in the second quarter. Jump Financial LLC now owns 14,187 shares of the company’s stock valued at $234,000 after acquiring an additional 3,750 shares in the last quarter. 50.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CBAN. Wall Street Zen cut shares of Colony Bankcorp from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Zacks Research raised Colony Bankcorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Hovde Group upped their price target on Colony Bankcorp from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Weiss Ratings raised Colony Bankcorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, Colony Bankcorp has a consensus rating of “Buy” and a consensus target price of $23.00.

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.