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

StockNews.com downgraded shares of Colony Bankcorp (NASDAQ:CBAN) from a buy rating to a hold rating in a research report released on Tuesday morning.

Colony Bankcorp Stock Down 1.8 %

Shares of Colony Bankcorp stock opened at $10.87 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.94. Colony Bankcorp has a 12-month low of $8.59 and a 12-month high of $13.58. The firm has a market capitalization of $190.88 million, a PE ratio of 8.70 and a beta of 0.53. The stock’s fifty day moving average is $10.98 and its 200-day moving average is $11.35.

Colony Bankcorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be issued a $0.112 dividend. This represents a $0.45 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Tuesday, May 7th. Colony Bankcorp’s payout ratio is 36.00%.

Institutional Investors Weigh In On Colony Bankcorp

A number of large investors have recently made changes to their positions in CBAN. Mendon Capital Advisors Corp acquired a new position in Colony Bankcorp in the 4th quarter worth approximately $1,862,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Colony Bankcorp in the fourth quarter worth $684,000. Pacific Ridge Capital Partners LLC grew its holdings in shares of Colony Bankcorp by 5.3% during the third quarter. Pacific Ridge Capital Partners LLC now owns 515,943 shares of the financial services provider’s stock valued at $5,157,000 after buying an additional 26,030 shares in the last quarter. Panagora Asset Management Inc. raised its position in Colony Bankcorp by 168.0% during the fourth quarter. Panagora Asset Management Inc. now owns 35,531 shares of the financial services provider’s stock valued at $473,000 after buying an additional 22,272 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Colony Bankcorp in the 3rd quarter worth about $192,000. Institutional investors and hedge funds own 50.37% of the company’s stock.

About Colony Bankcorp

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.