Colony Bankcorp, Inc. (NASDAQ:CBAN) Short Interest Down 20.8% in July

Colony Bankcorp, Inc. (NASDAQ:CBANGet Rating) saw a significant decrease in short interest in July. As of July 15th, there was short interest totalling 229,800 shares, a decrease of 20.8% from the June 30th total of 290,000 shares. Based on an average daily volume of 117,600 shares, the days-to-cover ratio is presently 2.0 days.

Insider Transactions at Colony Bankcorp

In other Colony Bankcorp news, EVP M. Edward Jr. Hoyle purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was bought at an average price of $14.15 per share, with a total value of $28,300.00. Following the completion of the purchase, the executive vice president now owns 22,837 shares in the company, valued at approximately $323,143.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders acquired 3,970 shares of company stock valued at $57,229. 7.69% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in shares of Colony Bankcorp by 71.6% during the 1st quarter. Bank of America Corp DE now owns 9,571 shares of the financial services provider’s stock valued at $179,000 after acquiring an additional 3,994 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Colony Bankcorp by 5,594.9% during the 1st quarter. Royal Bank of Canada now owns 4,499 shares of the financial services provider’s stock valued at $84,000 after acquiring an additional 4,420 shares during the last quarter. Advisor Group Holdings Inc. increased its holdings in shares of Colony Bankcorp by 172.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,508 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 954 shares during the last quarter. EJF Capital LLC acquired a new stake in Colony Bankcorp in the 1st quarter valued at approximately $2,801,000. Finally, Prospector Partners LLC acquired a new stake in Colony Bankcorp in the 1st quarter valued at approximately $373,000. 28.33% of the stock is owned by institutional investors and hedge funds.

Colony Bankcorp Trading Up 0.1 %

Shares of NASDAQ CBAN opened at $14.41 on Thursday. Colony Bankcorp has a 12 month low of $13.84 and a 12 month high of $19.59. The company has a market cap of $253.34 million, a price-to-earnings ratio of 11.26 and a beta of 0.51. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $15.41 and a 200-day simple moving average of $16.90.

Colony Bankcorp (NASDAQ:CBANGet Rating) last announced its earnings results on Thursday, July 21st. The financial services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.11). Colony Bankcorp had a net margin of 15.39% and a return on equity of 10.34%. Sell-side analysts predict that Colony Bankcorp will post 1.38 EPS for the current year.

Colony Bankcorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, August 20th. Shareholders of record on Saturday, August 6th will be given a $0.108 dividend. This represents a $0.43 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, August 4th. Colony Bankcorp’s payout ratio is currently 33.59%.

Wall Street Analyst Weigh In

Separately, DA Davidson lowered Colony Bankcorp from a “buy” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $16.75 in a report on Wednesday.

About Colony Bankcorp

(Get Rating)

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 various 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.

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