Colony Bankcorp (NASDAQ:CBAN) Cut to Hold at StockNews.com

Colony Bankcorp (NASDAQ:CBAN) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Colony Bankcorp Stock Performance

Shares of CBAN traded down $0.95 during midday trading on Wednesday, reaching $16.22. 54,716 shares of the stock were exchanged, compared to its average volume of 41,043. Colony Bankcorp has a twelve month low of $10.33 and a twelve month high of $18.49. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.80. The company has a market capitalization of $284.29 million, a price-to-earnings ratio of 12.98 and a beta of 0.61. The business’s 50-day moving average price is $16.57 and its 200 day moving average price is $14.73.

Colony Bankcorp (NASDAQ:CBAN) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Colony Bankcorp had a net margin of 12.75% and a return on equity of 8.86%. The business had revenue of $44.69 million for the quarter, compared to analysts’ expectations of $28.67 million. During the same period in the previous year, the company posted $0.34 EPS. On average, sell-side analysts expect that Colony Bankcorp will post 1.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Colony Bankcorp

A number of large investors have recently modified their holdings of the business. Barclays PLC grew its stake in shares of Colony Bankcorp by 49.5% during the 3rd quarter. Barclays PLC now owns 54,484 shares of the financial services provider’s stock worth $845,000 after purchasing an additional 18,048 shares during the period. Geode Capital Management LLC boosted its holdings in Colony Bankcorp by 2.2% during the third quarter. Geode Capital Management LLC now owns 363,547 shares of the financial services provider’s stock worth $5,643,000 after buying an additional 7,740 shares in the last quarter. State Street Corp grew its position in Colony Bankcorp by 7.6% during the third quarter. State Street Corp now owns 253,507 shares of the financial services provider’s stock worth $3,934,000 after buying an additional 17,865 shares during the period. Martingale Asset Management L P grew its position in Colony Bankcorp by 38.2% during the third quarter. Martingale Asset Management L P now owns 47,490 shares of the financial services provider’s stock worth $737,000 after buying an additional 13,119 shares during the period. Finally, De Lisle Partners LLP increased its holdings in Colony Bankcorp by 105.8% in the third quarter. De Lisle Partners LLP now owns 68,087 shares of the financial services provider’s stock valued at $1,058,000 after buying an additional 35,000 shares in the last quarter. 50.37% of the stock is owned by hedge funds and other institutional investors.

Colony Bankcorp Company 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.