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

Colony Bankcorp (NASDAQ:CBAN) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

Colony Bankcorp Stock Performance

NASDAQ CBAN traded up $0.01 during trading hours on Tuesday, reaching $17.36. The company’s stock had a trading volume of 43,633 shares, compared to its average volume of 41,199. The business has a 50-day simple moving average of $15.42 and a 200 day simple moving average of $13.70. Colony Bankcorp has a 52 week low of $9.92 and a 52 week high of $18.03. The stock has a market cap of $305.36 million, a PE ratio of 13.89 and a beta of 0.57. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 1.01.

Colony Bankcorp (NASDAQ:CBAN) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.35 earnings per share (EPS) 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 9.00%. The firm had revenue of $44.69 million during the quarter, compared to analyst estimates of $28.67 million. During the same quarter in the prior year, the firm posted $0.34 EPS. Equities research analysts predict that Colony Bankcorp will post 1.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Colony Bankcorp

A number of hedge funds have recently added to or reduced their stakes in CBAN. BNP Paribas Financial Markets raised its stake in shares of Colony Bankcorp by 47.9% in the 1st quarter. BNP Paribas Financial Markets now owns 36,252 shares of the financial services provider’s stock valued at $417,000 after acquiring an additional 11,746 shares in the last quarter. Empowered Funds LLC lifted its position in Colony Bankcorp by 7.8% during the 1st quarter. Empowered Funds LLC now owns 31,396 shares of the financial services provider’s stock worth $361,000 after acquiring an additional 2,275 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Colony Bankcorp by 0.8% in the first quarter. Vanguard Group Inc. now owns 918,020 shares of the financial services provider’s stock worth $10,557,000 after purchasing an additional 6,891 shares during the period. Hillsdale Investment Management Inc. increased its position in Colony Bankcorp by 8.9% in the 1st quarter. Hillsdale Investment Management Inc. now owns 56,057 shares of the financial services provider’s stock worth $645,000 after buying an additional 4,600 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Colony Bankcorp by 44.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 44,589 shares of the financial services provider’s stock valued at $513,000 after acquiring an additional 13,701 shares during the period. Institutional investors and hedge funds own 50.37% of the company’s stock.

Colony Bankcorp Company Profile

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.