Colony Bankcorp (NASDAQ:CBAN) Upgraded at StockNews.com

StockNews.com upgraded shares of Colony Bankcorp (NASDAQ:CBAN) from a hold rating to a buy rating in a research report report published on Monday morning.

Colony Bankcorp Stock Up 2.8 %

Shares of Colony Bankcorp stock opened at $11.93 on Monday. The business has a 50-day moving average of $11.00 and a 200-day moving average of $11.47. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.78 and a quick ratio of 0.77. The company has a market capitalization of $209.49 million, a PE ratio of 9.54 and a beta of 0.54. Colony Bankcorp has a 1-year low of $8.87 and a 1-year high of $13.58.

Colony Bankcorp (NASDAQ:CBAN) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.33 EPS for the quarter. The business had revenue of $28.14 million during the quarter. Colony Bankcorp had a return on equity of 9.22% and a net margin of 13.17%. As a group, equities analysts forecast that Colony Bankcorp will post 1.31 EPS for the current fiscal year.

Colony Bankcorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a $0.112 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.45 dividend on an annualized basis and a yield of 3.76%. Colony Bankcorp’s dividend payout ratio (DPR) is 36.00%.

Hedge Funds Weigh In On Colony Bankcorp

Hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC grew its stake in Colony Bankcorp by 23.3% in the third quarter. Hsbc Holdings PLC now owns 20,660 shares of the financial services provider’s stock worth $208,000 after purchasing an additional 3,903 shares in the last quarter. SG Americas Securities LLC bought a new position in Colony Bankcorp in the fourth quarter worth about $119,000. Pacific Ridge Capital Partners LLC lifted its holdings in Colony Bankcorp by 5.3% in the third quarter. Pacific Ridge Capital Partners LLC now owns 515,943 shares of the financial services provider’s stock worth $5,157,000 after acquiring an additional 26,030 shares during the last quarter. Panagora Asset Management Inc. bought a new position in Colony Bankcorp in the third quarter worth about $133,000. Finally, Ritholtz Wealth Management bought a new position in Colony Bankcorp in the fourth quarter worth about $197,000. 50.37% of the stock is currently owned by institutional investors and hedge funds.

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.