Colony Bankcorp, Inc. (NASDAQ: CBAN – Get a rating) was the target of a significant fall in short rates during the month of August. As of August 31, there was short interest totaling 243,000 shares, down 8.5% from the total of 265,500 shares as of August 15. Based on an average trading volume of 99,100 shares, the short interest ratio is currently 2.5 days.
Insider buying and selling
In related news, EVP Mr. Edward Jr. Hoyle acquired 2,000 shares of the company in a transaction that took place on Tuesday, July 26. The shares were acquired at an average cost of $14.15 per share, with a total value of $28,300.00. Following the completion of the purchase, the executive vice president now directly owns 22,837 shares of the company, valued at $323,143.55. The purchase was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Insiders have purchased a total of 3,470 shares of the company worth $49,204 over the past three months. 7.69% of the shares are currently held by insiders of the company.
Colony Bankcorp Institutional Trading
A number of hedge funds and other institutional investors have recently changed their positions in the company. Polaris Capital Management LLC increased its position in Colony Bankcorp by 675.7% in the second quarter. Polaris Capital Management LLC now owns 3,599,658 shares of the financial services provider valued at $62,202,000 after purchasing an additional 3,135,608 shares last quarter. FJ Capital Management LLC bought a new position in Colony Bankcorp in the first quarter worth approximately $7,525,000. Wellington Management Group LLP acquired a new stock position in Colony Bankcorp during Q1 worth approximately $6,442,000. RMB Capital Management LLC acquired a new equity stake in Colony Bankcorp in Q2 valued at approximately $4,775,000. Finally, Petiole USA ltd bought a new position in shares of Colony Bankcorp in the first quarter at a value of $4,645,000. 73.05% of the shares are currently held by institutional investors and hedge funds.
Analysts set new price targets
Separately, DA Davidson downgraded shares of Colony Bankcorp from a “buy” rating to a “neutral” rating and reduced its target price for the stock from $18.00 to $16.75 in a Wednesday report. August 3.
Colony Bankcorp Stock up 2.4%
Shares of NASDAQ CBAN traded up $0.33 during Tuesday’s midday session, hitting $14.26. 93,151 shares of the company have been traded, against an average volume of 42,210. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt ratio of 0.55. The company has a fifty-day simple moving average of $14.39 and a 200-day simple moving average of $16.05. Colony Bankcorp has a 12-month low of $13.56 and a 12-month high of $19.59. The company has a market capitalization of $251.69 million, a price-earnings ratio of 11.14 and a beta of 0.51.
Colony Bankcorp (NASDAQ:CBAN – Get a rating) last announced 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 net margin of 15.39% and a return on equity of 10.34%. The company posted revenue of $29.22 million in the quarter, versus a consensus estimate of $32.46 million. As a group, stock analysts expect Colony Bankcorp to post EPS of 1.38 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. This represents a dividend of $0.43 on an annualized basis and a yield of 3.03%. The ex-dividend date was Thursday August 4th. Colony Bankcorp’s dividend payout ratio (DPR) is currently 33.59%.
About Colony Bankcorp
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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