Colony Bankcorp, Inc. (NASDAQ:CBAN – Get Rating) saw a significant increase in short interest in December. As of December 15th, there was short interest totalling 106,000 shares, an increase of 18.2% from the November 30th total of 89,700 shares. Based on an average daily volume of 43,200 shares, the days-to-cover ratio is presently 2.5 days.
Analyst Upgrades and Downgrades
Separately, StockNews.com started coverage on Colony Bankcorp in a research report on Wednesday, October 12th. They set a “hold” rating for the company.
Colony Bankcorp Price Performance
Colony Bankcorp stock traded down $0.10 during midday trading on Friday, hitting $12.69. 66,868 shares of the company’s stock were exchanged, compared to its average volume of 44,718. Colony Bankcorp has a 52-week low of $12.64 and a 52-week high of $19.00. The stock has a 50-day moving average price of $13.44 and a two-hundred day moving average price of $14.04. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.69 and a current ratio of 0.70. The company has a market cap of $223.85 million, a P/E ratio of 11.23 and a beta of 0.53.
Colony Bankcorp (NASDAQ:CBAN – Get Rating) last posted its earnings results on Thursday, October 20th. The financial services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.06). Colony Bankcorp had a return on equity of 9.40% and a net margin of 14.70%. The business had revenue of $29.04 million for the quarter, compared to analysts’ expectations of $31.46 million. On average, equities research analysts forecast that Colony Bankcorp will post 1.29 earnings per share for the current year.
Colony Bankcorp Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Friday, November 4th were paid a dividend of $0.108 per share. This represents a $0.43 annualized dividend and a yield of 3.40%. The ex-dividend date was Thursday, November 3rd. Colony Bankcorp’s dividend payout ratio (DPR) is currently 38.05%.
Insider Activity
In related news, EVP Kimberly C. Dockery purchased 4,000 shares of Colony Bankcorp stock in a transaction dated Monday, December 12th. The stock was bought at an average cost of $13.33 per share, for a total transaction of $53,320.00. Following the completion of the transaction, the executive vice president now owns 20,289 shares in the company, valued at $270,452.37. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.69% of the stock is owned by company insiders.
Institutional Investors Weigh In On Colony Bankcorp
Several hedge funds have recently added to or reduced their stakes in CBAN. Advisor Group Holdings Inc. lifted its stake in Colony Bankcorp by 172.2% during the first quarter. Advisor Group Holdings Inc. now owns 1,508 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 954 shares during the last quarter. Godsey & Gibb Inc. bought a new stake in Colony Bankcorp during the third quarter worth about $34,000. BNP Paribas Arbitrage SA bought a new stake in Colony Bankcorp during the second quarter worth about $62,000. BNP Paribas Arbitrage SNC lifted its stake in Colony Bankcorp by 27.5% during the third quarter. BNP Paribas Arbitrage SNC now owns 5,274 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,137 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Colony Bankcorp by 5,594.9% in 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. Institutional investors own 50.30% of the company’s stock.
Colony Bankcorp Company Profile
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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.
Further Reading
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