Colony Bankcorp (NYSE:CBAN) Shares Down 6.3% – Here’s What Happened

Colony Bankcorp, Inc. (NYSE:CBAN) shares were down 6.3% on Thursday . The stock traded as low as $19.83 and last traded at $19.95. 1,047,286 shares changed hands during mid-day trading, an increase of 281% from the average session volume of 274,623 shares. The stock had previously closed at $21.28.

Wall Street Analyst Weigh In

CBAN has been the subject of a number of research analyst reports. Zacks Research cut shares of Colony Bankcorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Hovde Group increased their price target on Colony Bankcorp from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Weiss Ratings raised Colony Bankcorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, May 15th. Wall Street Zen downgraded Colony Bankcorp from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Finally, Brean Capital raised Colony Bankcorp from a “neutral” rating to a “buy” rating in a research note on Monday, March 23rd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Colony Bankcorp Price Performance

The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.68. The stock’s 50-day moving average price is $20.14 and its 200-day moving average price is $19.62. The company has a market capitalization of $422.14 million, a price-to-earnings ratio of 12.47 and a beta of 0.56.

Colony Bankcorp (NYSE:CBAN) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. Colony Bankcorp had a net margin of 14.83% and a return on equity of 10.23%. The business had revenue of $39.90 million during the quarter, compared to analyst estimates of $42.10 million. Equities research analysts anticipate that Colony Bankcorp, Inc. will post 1.91 earnings per share for the current year.

Colony Bankcorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, May 6th. Colony Bankcorp’s dividend payout ratio (DPR) is 30.00%.

Hedge Funds Weigh In On Colony Bankcorp

Large investors have recently made changes to their positions in the company. Fourthstone LLC boosted its holdings in Colony Bankcorp by 165.9% in the fourth quarter. Fourthstone LLC now owns 1,711,213 shares of the company’s stock valued at $30,494,000 after acquiring an additional 1,067,540 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in Colony Bankcorp during the 3rd quarter valued at about $3,148,000. Segall Bryant & Hamill LLC bought a new position in shares of Colony Bankcorp in the 3rd quarter valued at about $1,583,000. Squarepoint Ops LLC bought a new position in shares of Colony Bankcorp in the 3rd quarter valued at about $1,016,000. Finally, Thomasville National Bank acquired a new stake in shares of Colony Bankcorp during the 4th quarter worth approximately $1,015,000. Institutional investors and hedge funds own 50.37% of the company’s stock.

About Colony Bankcorp

Colony Bankcorp, Inc is a bank holding company headquartered in Baxley, Georgia, that operates through its primary subsidiary, The Colony Bank. The company’s core focus is on delivering community banking services tailored to individuals, small businesses and agricultural customers throughout Georgia and Florida. Colony Bankcorp’s structure supports a full suite of deposit and lending solutions designed to meet the needs of local markets.

The company offers a range of deposit products, including personal and business checking accounts, savings and money market accounts, and certificates of deposit.