Colony Bankcorp (NASDAQ:CBAN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday, Zacks.com reports.
According to Zacks, “Colony Bankcorp, Inc., a multibank holding company, provides retail and commercial banking services to consumers and small to medium size businesses primarily in south Georgia. It offers various deposits, including interest bearing demand and savings deposits, checking accounts, and time deposits, as well as individual retirement accounts. Colony Bank’s philosophy is firmly grounded in the principle that banking is about relationships, not just products and technology. “
Shares of NASDAQ CBAN traded up $0.40 during midday trading on Monday, reaching $17.20. 10,158 shares of the company were exchanged, compared to its average volume of 31,539. The company’s 50-day moving average price is $18.13. The stock has a market capitalization of $235.19 million, a PE ratio of 9.01 and a beta of 0.56. Colony Bankcorp has a one year low of $13.70 and a one year high of $19.59. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 0.41.
Colony Bankcorp (NASDAQ:CBAN) last posted its earnings results on Wednesday, October 20th. The financial services provider reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.22. The firm had revenue of $27.31 million for the quarter, compared to analysts’ expectations of $27.11 million. Colony Bankcorp had a net margin of 19.26% and a return on equity of 12.85%. Analysts forecast that Colony Bankcorp will post 2.05 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC bought a new stake in shares of Colony Bankcorp in the third quarter worth $49,000. Royal Bank of Canada grew its stake in shares of Colony Bankcorp by 283.4% in the second quarter. Royal Bank of Canada now owns 2,699 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,995 shares during the last quarter. Rothschild Investment Corp IL acquired a new position in Colony Bankcorp in the third quarter valued at $211,000. Tibra Equities Europe Ltd acquired a new position in Colony Bankcorp in the second quarter valued at $263,000. Finally, Morgan Stanley lifted its holdings in Colony Bankcorp by 10.0% in the third quarter. Morgan Stanley now owns 15,604 shares of the financial services provider’s stock valued at $291,000 after buying an additional 1,420 shares during the period. 18.62% of the stock is currently owned by institutional investors.
About Colony Bankcorp
Colony Bankcorp, Inc is a bank holding company, which engages in the stockholder and investor relations functions through its subsidiary, Colony Bank. It operates through the following segments: Banking Division; Mortgage Division; and Small Business Specialty Lending Division. The Banking Division segment offers full service financial services to include commercial loans, consumer loans and deposit accounts.