Colony Bankcorp, Inc. (NASDAQ: CBAN – Get a rating) benefited from a significant increase in short-term interest in August. As of August 15, there was short interest totaling 265,500 shares, a 9.8% increase from the July 31 total of 241,800 shares. Based on an average daily trading volume of 109,600 shares, the short interest ratio is currently 2.4 days.
In other news, EVP Mr. Edward Jr. Hoyle bought 2,000 shares of the company in a trade dated Tuesday, July 26. The shares were purchased at an average price of $14.15 per share, for a total transaction of $28,300.00. Following the completion of the purchase, the executive vice president now owns 22,837 shares of the company, valued at approximately $323,143.55. The purchase was disclosed in an SEC filing, available at this link. In the past 90 days, insiders have purchased 3,970 shares of the company worth $57,229. Insiders of the company own 7.69% of the shares of the company.
Institutional investors weigh in on Colony Bankcorp
A number of large investors have recently shifted their CBAN holdings. Advisor Group Holdings Inc. increased its holdings of Colony Bankcorp stock by 172.2% in the first quarter. Advisor Group Holdings Inc. now owns 1,508 shares of the financial services provider worth $28,000 after purchasing an additional 954 shares during the period. BNP Paribas Arbitrage SA acquired a new equity stake in Colony Bankcorp during the second quarter worth approximately $62,000. Royal Bank of Canada increased its holdings of Colony Bankcorp shares by 5,594.9% in the first quarter. Royal Bank of Canada now owns 4,499 shares of the financial services provider worth $84,000 after purchasing an additional 4,420 shares during the period. American International Group Inc. acquired a new equity stake in Colony Bankcorp during the second quarter worth approximately $116,000. Finally, Bank of America Corp DE increased its stake in Colony Bankcorp by 71.6% in the first quarter. Bank of America Corp DE now owns 9,571 shares of the financial services provider valued at $179,000 after acquiring 3,994 additional shares during the period. Hedge funds and other institutional investors hold 28.33% of the company’s shares.
Changes to analyst ratings
Separately, DA Davidson downgraded Colony Bankcorp from a “buy” rating to a “neutral” rating and reduced its target price for the company from $18.00 to $16.75 in a Wednesday, August 3 research note. .
Colony Bankcorp price performance
Shares of CBAN opened at $14.11 on Tuesday. Colony Bankcorp has a fifty-two week low of $13.84 and a fifty-two week high of $19.59. The company has a market capitalization of $249.08 million, a price-earnings ratio of 11.02 and a beta of 0.51. The company has a debt ratio of 0.55, a quick ratio of 0.64 and a current ratio of 0.66. The stock’s 50-day simple moving average is $14.75 and its 200-day simple moving average is $16.52.
Colony Bankcorp (NASDAQ:CBAN – Get a rating) last released its quarterly results on Thursday, July 21. The financial services provider reported earnings per share of $0.30 for the quarter, missing analyst consensus estimates of $0.42 per ($0.12). Colony Bankcorp had a return on equity of 10.27% and a net margin of 15.39%. The company posted revenue of $29.22 million for the quarter, versus $32.46 million expected by analysts. As a group, stock analysts expect Colony Bankcorp to post 1.38 earnings per share for the current fiscal year.
Colony Bankcorp Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Saturday, August 20. Shareholders of record on Saturday August 6 received a dividend of $0.108 per share. The ex-dividend date was Thursday August 4th. This represents a dividend of $0.43 on an annualized basis and a dividend yield of 3.06%. Colony Bankcorp’s payout ratio is 33.59%.
Colony Bankcorp Company Profile
Colony Bankcorp, Inc operates as a bank holding company for Colony Bank which provides various banking products and services to commercial and consumer customers. The Company offers various deposit products, including demand, savings and term deposits. It also provides loans to small and medium enterprises; loans for residential and commercial construction and land development; commercial real estate loans; business loans; agribusiness and production loans; residential mortgages; home equity loans; and consumer loans.
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