Colony Bankcorp (NASDAQ:CBAN) Raised to “Buy” at StockNews.com

Colony Bankcorp (NASDAQ:CBAN) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Colony Bankcorp Stock Down 4.6 %

Shares of CBAN stock opened at $14.66 on Thursday. The company has a market capitalization of $256.95 million, a price-to-earnings ratio of 11.73 and a beta of 0.62. Colony Bankcorp has a one year low of $10.33 and a one year high of $18.49. The company’s fifty day moving average price is $16.78 and its 200-day moving average price is $15.19. 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) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm had revenue of $44.69 million for the quarter, compared to the consensus estimate of $28.67 million. Colony Bankcorp had a net margin of 12.75% and a return on equity of 8.86%. During the same period last year, the firm earned $0.34 EPS. Sell-side analysts expect that Colony Bankcorp will post 1.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Colony Bankcorp

Several institutional investors have recently bought and sold shares of CBAN. Dimensional Fund Advisors LP grew its stake in Colony Bankcorp by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 508,394 shares of the financial services provider’s stock valued at $6,228,000 after acquiring an additional 38,457 shares in the last quarter. De Lisle Partners LLP grew its stake in Colony Bankcorp by 105.8% during the third quarter. De Lisle Partners LLP now owns 68,087 shares of the financial services provider’s stock valued at $1,058,000 after acquiring an additional 35,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Colony Bankcorp by 116.1% during the third 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. Barclays PLC grew its stake in Colony Bankcorp by 49.5% during the third quarter. Barclays PLC now owns 54,484 shares of the financial services provider’s stock valued at $845,000 after acquiring an additional 18,048 shares in the last quarter. Finally, State Street Corp grew its stake in Colony Bankcorp by 7.6% during the third 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 in the last quarter. 50.37% of the stock is owned by hedge funds and other institutional investors.

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.