State Street Corp Boosts Stake in Colony Bankcorp, Inc. (NASDAQ:CBAN)

State Street Corp raised its position in Colony Bankcorp, Inc. (NASDAQ:CBAN) by 7.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 253,507 shares of the financial services provider’s stock after purchasing an additional 17,865 shares during the quarter. State Street Corp owned 1.45% of Colony Bankcorp worth $3,934,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CBAN. Rothschild Investment LLC acquired a new stake in Colony Bankcorp during the 2nd quarter worth approximately $139,000. Ritholtz Wealth Management increased its position in shares of Colony Bankcorp by 8.9% in the second quarter. Ritholtz Wealth Management now owns 26,753 shares of the financial services provider’s stock worth $328,000 after acquiring an additional 2,193 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Colony Bankcorp by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 35,478 shares of the financial services provider’s stock valued at $551,000 after acquiring an additional 1,742 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Colony Bankcorp by 116.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,285 shares of the financial services provider’s stock valued at $579,000 after acquiring an additional 20,031 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its position in Colony Bankcorp by 19.3% during the 2nd quarter. Panagora Asset Management Inc. now owns 48,782 shares of the financial services provider’s stock worth $598,000 after purchasing an additional 7,885 shares during the period. 50.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Colony Bankcorp from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th.

Colony Bankcorp Stock Up 0.1 %

NASDAQ CBAN opened at $16.27 on Tuesday. The stock has a market cap of $285.16 million, a PE ratio of 13.02 and a beta of 0.61. The business has a 50 day moving average price of $16.67 and a two-hundred day moving average price of $14.97. Colony Bankcorp, Inc. has a fifty-two week low of $10.33 and a fifty-two week high of $18.49. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.90.

Colony Bankcorp (NASDAQ:CBAN) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Colony Bankcorp had a net margin of 12.75% and a return on equity of 8.86%. The business had revenue of $44.69 million during the quarter, compared to analyst estimates of $28.67 million. During the same period last year, the business earned $0.34 EPS. As a group, sell-side analysts predict that Colony Bankcorp, Inc. will post 1.38 EPS for the current fiscal year.

Colony Bankcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th were given a dividend of $0.112 per share. This represents a $0.45 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date was Wednesday, November 6th. Colony Bankcorp’s payout ratio is 36.00%.

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.