The Manufacturers Life Insurance Company Takes Position in Colony Bankcorp, Inc. $CBAN

The Manufacturers Life Insurance Company purchased a new position in shares of Colony Bankcorp, Inc. (NYSE:CBAN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 299,879 shares of the company’s stock, valued at approximately $6,025,000.

Other hedge funds have also recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in Colony Bankcorp in the 3rd quarter valued at $44,000. BNP Paribas Financial Markets increased its stake in shares of 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 acquiring an additional 969 shares during the period. Russell Investments Group Ltd. raised its holdings in Colony Bankcorp by 83.0% during the third quarter. Russell Investments Group Ltd. now owns 3,593 shares of the company’s stock worth $61,000 after purchasing an additional 1,630 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in Colony Bankcorp by 49.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,500 shares of the company’s stock worth $80,000 after purchasing an additional 1,494 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in Colony Bankcorp in the first quarter valued at about $89,000. 50.37% of the stock is owned by institutional investors and hedge funds.

Colony Bankcorp Stock Performance

CBAN opened at $21.11 on Tuesday. Colony Bankcorp, Inc. has a 1-year low of $15.80 and a 1-year high of $22.46. The stock has a market cap of $447.95 million, a P/E ratio of 12.79 and a beta of 0.55. The stock’s 50 day simple moving average is $21.17 and its 200 day simple moving average is $20.45. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.88 and a quick ratio of 0.88.

Colony Bankcorp (NYSE:CBAN) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. The firm had revenue of $42.03 million during the quarter, compared to analysts’ expectations of $40.90 million. Colony Bankcorp had a return on equity of 10.40% and a net margin of 15.42%. As a group, equities analysts anticipate that Colony Bankcorp, Inc. will post 1.92 EPS for the current fiscal year.

Colony Bankcorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, August 5th. Colony Bankcorp’s payout ratio is 29.09%.

Analyst Upgrades and Downgrades

CBAN has been the topic of several recent analyst reports. Wall Street Zen cut Colony Bankcorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings downgraded Colony Bankcorp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Finally, Zacks Research raised Colony Bankcorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $23.00.

Insider Activity at Colony Bankcorp

In other Colony Bankcorp news, insider Edward G. Canup acquired 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were acquired at an average cost of $21.62 per share, for a total transaction of $43,240.00. Following the transaction, the insider directly owned 39,702 shares of the company’s stock, valued at approximately $858,357.24. This represents a 5.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have bought 7,000 shares of company stock valued at $151,290. 3.92% of the stock is owned by insiders.

Colony Bankcorp Profile

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.