Colony Bankcorp (NYSE:CBAN) Posts Earnings Results, Beats Expectations By $0.02 EPS

Colony Bankcorp (NYSE:CBAN) posted its earnings results on Wednesday. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02, FiscalAI reports. Colony Bankcorp had a net margin of 16.71% and a return on equity of 10.73%. The business had revenue of $42.72 million for the quarter, compared to analysts’ expectations of $41.20 million.

Colony Bankcorp Price Performance

Shares of CBAN traded down $0.07 during mid-day trading on Friday, hitting $20.34. 15,613 shares of the company were exchanged, compared to its average volume of 212,351. The company has a 50 day moving average of $20.68 and a 200-day moving average of $20.37. Colony Bankcorp has a 1-year low of $15.80 and a 1-year high of $22.46. 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 stock has a market cap of $431.74 million, a price-to-earnings ratio of 11.17 and a beta of 0.56.

Colony Bankcorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 11th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, November 10th. Colony Bankcorp’s dividend payout ratio (DPR) is presently 26.37%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CBAN. Weiss Ratings lowered Colony Bankcorp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Wall Street Zen cut Colony Bankcorp from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Finally, Zacks Research downgraded shares of Colony Bankcorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 11th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Insider Buying and Selling

In related news, insider Edward Canup bought 2,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was bought at an average cost of $21.62 per share, for a total transaction of $43,240.00. Following the acquisition, the insider directly owned 39,702 shares in the company, valued at $858,357.24. This represents a 5.30% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders purchased a total of 5,000 shares of company stock worth $107,690 in the last quarter. Company insiders own 3.92% of the company’s stock.

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.