Colony Bankcorp (NYSE:CBAN) Stock: Insider Edward Canup Purchases 1,000 Shares

Colony Bankcorp, Inc. (NYSE:CBAN) insider Edward Canup purchased 1,000 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were acquired at an average cost of $19.89 per share, for a total transaction of $19,890.00. Following the completion of the transaction, the insider owned 44,702 shares of the company’s stock, valued at $889,122.78. This trade represents a 2.29% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Colony Bankcorp Price Performance

NYSE:CBAN opened at $20.25 on Friday. The stock has a fifty day moving average of $20.56 and a 200 day moving average of $20.43. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $429.73 million, a price-to-earnings ratio of 10.36 and a beta of 0.57. Colony Bankcorp, Inc. has a 52-week low of $15.90 and a 52-week high of $22.46.

Colony Bankcorp (NYSE:CBAN) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $42.64 million during the quarter, compared to analysts’ expectations of $41.20 million. Colony Bankcorp had a return on equity of 10.73% and a net margin of 16.71%. On average, research analysts expect that Colony Bankcorp, Inc. will post 2.07 EPS for the current fiscal year.

Colony Bankcorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 11th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Tuesday, November 10th. Colony Bankcorp’s dividend payout ratio is 26.37%.

Hedge Funds Weigh In On Colony Bankcorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its stake in shares of Colony Bankcorp by 9.6% in the third quarter. Russell Investments Group Ltd. now owns 24,244 shares of the company’s stock worth $488,000 after purchasing an additional 2,130 shares during the period. State of Wyoming bought a new stake in Colony Bankcorp in the 3rd quarter valued at about $202,000. State of Alaska Department of Revenue boosted its holdings in Colony Bankcorp by 75.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 1,783 shares of the company’s stock valued at $35,000 after acquiring an additional 767 shares during the period. Engineers Gate Manager LP bought a new stake in Colony Bankcorp during the 2nd quarter valued at about $939,000. Finally, Squarepoint Ops LLC purchased a new stake in Colony Bankcorp in the 2nd quarter worth $286,000. 50.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CBAN. Weiss Ratings lowered shares of Colony Bankcorp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Zacks Research cut Colony Bankcorp from a “strong-buy” rating to a “hold” rating in a report on Friday, September 11th. Finally, Wall Street Zen raised shares of Colony Bankcorp from a “hold” rating to a “buy” rating in a research note on Sunday, November 1st. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.00.

Colony Bankcorp Company Profile

Colony Bankcorp, Inc is a bank holding company headquartered in Fitzgerald, Georgia. Through its wholly owned subsidiary, Colony Bank, the company provides banking and financial services to individuals, families, businesses and institutions. Colony Bank has roots dating to 1935 and operates as a community-focused financial institution serving markets across Georgia and neighboring areas.

The bank offers a range of personal and business deposit accounts, consumer and commercial loans, mortgage lending, treasury management and other banking services.