Colony Bankcorp (NASDAQ:CBAN) Upgraded to Buy by StockNews.com

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

Colony Bankcorp Stock Performance

Shares of Colony Bankcorp stock opened at $10.70 on Monday. The company’s 50 day moving average price is $11.03 and its two-hundred day moving average price is $11.32. The firm has a market capitalization of $187.89 million, a P/E ratio of 8.63 and a beta of 0.53. Colony Bankcorp has a fifty-two week low of $8.59 and a fifty-two week high of $13.58. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.78 and a quick ratio of 0.77.

Colony Bankcorp (NASDAQ:CBAN) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.31 earnings per share for the quarter. Colony Bankcorp had a return on equity of 9.32% and a net margin of 13.55%. The business had revenue of $28.18 million for the quarter.

Colony Bankcorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Wednesday, February 7th were issued a $0.112 dividend. This represents a $0.45 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend was Tuesday, February 6th. This is a positive change from Colony Bankcorp’s previous quarterly dividend of $0.11. Colony Bankcorp’s dividend payout ratio (DPR) is 36.29%.

Institutional Investors Weigh In On Colony Bankcorp

Institutional investors have recently added to or reduced their stakes in the business. Mendon Capital Advisors Corp acquired a new position in shares of Colony Bankcorp during the fourth quarter worth $1,862,000. Hillsdale Investment Management Inc. bought a new position in Colony Bankcorp during the 4th quarter worth $684,000. Pacific Ridge Capital Partners LLC raised its position in Colony Bankcorp by 5.3% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 515,943 shares of the financial services provider’s stock worth $5,157,000 after purchasing an additional 26,030 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in Colony Bankcorp by 168.0% during the 4th quarter. Panagora Asset Management Inc. now owns 35,531 shares of the financial services provider’s stock worth $473,000 after buying an additional 22,272 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Colony Bankcorp in the 3rd quarter valued at about $192,000. 50.37% of the stock is owned by 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.