StockNews.com Downgrades Colony Bankcorp (NASDAQ:CBAN) to Hold

StockNews.com downgraded shares of Colony Bankcorp (NASDAQ:CBAN - Free Report) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Colony Bankcorp Trading Up 0.1 %

CBAN traded up $0.01 during trading on Wednesday, hitting $16.97. The company's stock had a trading volume of 36,531 shares, compared to its average volume of 41,185. The firm's 50 day moving average price is $15.64 and its 200-day moving average price is $13.91. The stock has a market cap of $297.48 million, a PE ratio of 13.58 and a beta of 0.57. Colony Bankcorp has a twelve month low of $10.33 and a twelve month high of $18.03. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.80.

Colony Bankcorp (NASDAQ:CBAN - Get Free Report) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $44.69 million during the quarter, compared to analysts' expectations 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 company earned $0.34 earnings per share. On average, analysts expect that Colony Bankcorp will post 1.33 earnings per share for the current year.

Colony Bankcorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th will be given a dividend of $0.112 per share. This represents a $0.45 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Wednesday, November 6th. Colony Bankcorp's payout ratio is 36.00%.

Institutional Trading of Colony Bankcorp

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Colony Bankcorp by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 918,020 shares of the financial services provider's stock valued at $10,557,000 after purchasing an additional 6,891 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Colony Bankcorp by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 508,394 shares of the financial services provider's stock worth $6,228,000 after acquiring an additional 38,457 shares during the period. Geode Capital Management LLC grew its position in Colony Bankcorp by 2.2% in the third quarter. Geode Capital Management LLC now owns 363,547 shares of the financial services provider's stock valued at $5,643,000 after acquiring an additional 7,740 shares during the period. State Street Corp increased its stake in shares of Colony Bankcorp by 7.6% in the 3rd quarter. State Street Corp now owns 253,507 shares of the financial services provider's stock valued at $3,934,000 after acquiring an additional 17,865 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Colony Bankcorp by 3.6% in the second quarter. Renaissance Technologies LLC now owns 95,078 shares of the financial services provider's stock valued at $1,165,000 after purchasing an additional 3,300 shares in the last quarter. Hedge funds and other institutional investors own 50.37% of the company's stock.

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.