Zacks Investment Management Cuts Stake in Colony Bankcorp, Inc. (NASDAQ:CBAN)

Zacks Investment Management lessened its stake in shares of Colony Bankcorp, Inc. (NASDAQ:CBAN) by 1.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 200,244 shares of the financial services provider’s stock after selling 2,781 shares during the quarter. Zacks Investment Management’s holdings in Colony Bankcorp were worth $3,108,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in CBAN. Rothschild Investment LLC bought a new position in shares of Colony Bankcorp during the 2nd quarter valued at approximately $139,000. Ritholtz Wealth Management grew its holdings in Colony Bankcorp by 8.9% during the second quarter. Ritholtz Wealth Management now owns 26,753 shares of the financial services provider’s stock valued at $328,000 after purchasing an additional 2,193 shares during the period. Empowered Funds LLC grew its holdings in 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 during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Colony Bankcorp by 116.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,285 shares of the financial services provider’s stock worth $579,000 after buying an additional 20,031 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Colony Bankcorp by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 46,458 shares of the financial services provider’s stock valued at $721,000 after buying an additional 1,500 shares during the period. Institutional investors own 50.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Colony Bankcorp from a “hold” rating to a “buy” rating in a research note on Saturday.

Colony Bankcorp Price Performance

Shares of NASDAQ:CBAN opened at $17.59 on Monday. The firm has a market capitalization of $308.30 million, a PE ratio of 14.07 and a beta of 0.61. 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 company has a 50-day moving average price of $16.22 and a two-hundred day moving average price of $14.45. Colony Bankcorp, Inc. has a twelve month low of $10.33 and a twelve month high of $18.49.

Colony Bankcorp (NASDAQ:CBAN) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Colony Bankcorp had a net margin of 12.75% and a return on equity of 8.86%. The company had revenue of $44.69 million during the quarter, compared to the consensus estimate of $28.67 million. During the same period last year, the firm earned $0.34 EPS. Equities analysts forecast that Colony Bankcorp, Inc. will post 1.38 EPS for the current year.

Colony Bankcorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th were given a $0.112 dividend. This represents a $0.45 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend was Wednesday, November 6th. Colony Bankcorp’s dividend payout ratio (DPR) is presently 36.00%.

Colony Bankcorp 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.