Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Colony Bankcorp, Inc. (CBAN)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$60.76 - $316.25$122.57
Multi-Stage$33.87 - $37.04$35.42
Blended Fair Value$79.00
Current Price$17.01
Upside364.41%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS24.02%0.00%0.450.440.410.250.220.150.100.050.000.00
YoY Growth--2.29%7.88%60.39%17.45%41.16%59.48%100.02%0.00%0.00%0.00%
Dividend Yield--2.79%3.96%4.01%1.37%1.39%1.23%0.57%0.28%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)27.84
(-) Cash Dividends Paid (M)8.00
(=) Cash Retained (M)19.84
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)5.573.482.09
Cash Retained (M)19.8419.8419.84
(-) Cash Required (M)-5.57-3.48-2.09
(=) Excess Retained (M)14.2716.3617.75
(/) Shares Outstanding (M)17.5117.5117.51
(=) Excess Retained per Share0.820.931.01
LTM Dividend per Share0.460.460.46
(+) Excess Retained per Share0.820.931.01
(=) Adjusted Dividend1.271.391.47
WACC / Discount Rate7.71%7.71%7.71%
Growth Rate5.50%6.50%7.50%
Fair Value$60.76$122.57$316.25
Upside / Downside257.19%620.58%1,759.21%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)27.8429.6531.5833.6335.8238.1539.29
Payout Ratio28.75%41.00%53.25%65.50%77.75%90.00%92.50%
Projected Dividends (M)8.0012.1616.8222.0327.8534.3336.34

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.71%7.71%7.71%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)11.1811.2911.39
Year 2 PV (M)14.2214.4914.77
Year 3 PV (M)17.1417.6318.13
Year 4 PV (M)19.9320.6921.48
Year 5 PV (M)22.5923.6824.82
PV of Terminal Value (M)507.87532.40557.87
Equity Value (M)592.93620.19648.46
Shares Outstanding (M)17.5117.5117.51
Fair Value$33.87$35.42$37.04
Upside / Downside99.09%108.24%117.74%

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