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Colony Bankcorp (CBAN) Beats Q3 Earnings Estimates
CBANColony Bank(CBAN) ZACKS·2024-10-23 22:56

Financial Performance - Colony Bankcorp reported quarterly earnings of 0.35pershare,exceedingtheZacksConsensusEstimateof0.35 per share, exceeding the Zacks Consensus Estimate of 0.34 per share, and showing an increase from 0.34pershareayearago,representinganearningssurpriseof2.940.34 per share a year ago, representing an earnings surprise of 2.94% [1] - The company posted revenues of 28.62 million for the quarter ended September 2024, which was below the Zacks Consensus Estimate by 0.16% and a decrease from 29.34millionyear−over−year[1]MarketPerformance−ColonyBankcorpshareshaveincreasedapproximately14.529.34 million year-over-year [1] Market Performance - Colony Bankcorp shares have increased approximately 14.5% since the beginning of the year, while the S&P 500 has gained 22.7% [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is 0.33 on revenues of 28.67million,andforthecurrentfiscalyear,itis28.67 million, and for the current fiscal year, it is 1.33 on revenues of 114.36million[4]−TheestimaterevisionstrendforColonyBankcorpismixed,resultinginaZacksRank3(Hold),indicatingexpectedperformanceinlinewiththemarket[4]IndustryContext−TheBanks−Southeastindustry,towhichColonyBankcorpbelongs,iscurrentlypositionedinthebottom33114.36 million [4] - The estimate revisions trend for Colony Bankcorp is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [4] Industry Context - The Banks - Southeast industry, to which Colony Bankcorp belongs, is currently positioned in the bottom 33% of over 250 Zacks industries, suggesting potential challenges for stock performance [5] - Another company in the same industry, First Guaranty Bancshares, is expected to report a significant decline in earnings, with a consensus EPS estimate of 0.01 per share, reflecting a year-over-year change of -90% [5]