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

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

Colony Bankcorp Stock Performance

CBAN stock traded down $0.15 during mid-day trading on Thursday, reaching $15.30. The company had a trading volume of 33,212 shares, compared to its average volume of 37,662. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $268.16 million, a P/E ratio of 12.24 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 stock’s 50-day simple moving average is $16.78 and its two-hundred day simple moving average is $15.19.

Colony Bankcorp (NASDAQ:CBAN) last posted 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. The company had revenue of $44.69 million for the quarter, compared to analysts’ expectations of $28.67 million. Colony Bankcorp had a return on equity of 8.86% and a net margin of 12.75%. During the same period last year, the business posted $0.34 earnings per share. Research analysts anticipate that Colony Bankcorp will post 1.38 EPS for the current year.

Institutional Investors Weigh In On Colony Bankcorp

A number of hedge funds and other institutional investors have recently modified their holdings of CBAN. JPMorgan Chase & Co. raised its stake in shares of Colony Bankcorp by 137.0% during the third quarter. JPMorgan Chase & Co. now owns 28,103 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 16,246 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Colony Bankcorp by 5.2% during the third quarter. Empowered Funds LLC now owns 35,478 shares of the financial services provider’s stock valued at $551,000 after purchasing an additional 1,742 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of 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 purchasing an additional 20,031 shares in the last quarter. Ritholtz Wealth Management raised its stake in shares of Colony Bankcorp by 40.0% during the third quarter. Ritholtz Wealth Management now owns 37,452 shares of the financial services provider’s stock valued at $581,000 after purchasing an additional 10,699 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Colony Bankcorp by 15.4% during the second quarter. Bank of New York Mellon Corp now owns 58,044 shares of the financial services provider’s stock valued at $711,000 after purchasing an additional 7,726 shares in the last quarter. 50.37% of the stock is currently owned by institutional investors.

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.