Colony Bankcorp, Inc. (NASDAQ:CBAN – Free Report) was the target of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 91,900 shares, a decrease of 20.2% from the May 31st total of 115,100 shares. Based on an average daily volume of 58,600 shares, the short-interest ratio is currently 1.6 days.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in Colony Bankcorp by 5.3% during the fourth quarter. JPMorgan Chase & Co. now owns 15,745 shares of the financial services provider’s stock worth $200,000 after buying an additional 796 shares in the last quarter. Advisor Group Holdings Inc. boosted its position 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. Charles Schwab Investment Management Inc. boosted its position in shares of Colony Bankcorp by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 44,278 shares of the financial services provider’s stock valued at $562,000 after acquiring an additional 1,117 shares during the last quarter. BNP Paribas Arbitrage SNC grew its holdings in shares of 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 in the last quarter. Finally, Martingale Asset Management L P increased its position in shares of Colony Bankcorp by 9.8% in the first quarter. Martingale Asset Management L P now owns 13,415 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 48.35% of the company’s stock.
Colony Bankcorp Stock Performance
NASDAQ CBAN opened at $9.43 on Tuesday. The firm has a market cap of $165.87 million, a P/E ratio of 8.65 and a beta of 0.57. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.96. The company’s 50 day moving average is $9.43 and its 200-day moving average is $10.99. Colony Bankcorp has a 12-month low of $8.59 and a 12-month high of $15.55.
Colony Bankcorp (NASDAQ:CBAN – Free Report) last issued its earnings results on Thursday, April 27th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. Colony Bankcorp had a net margin of 14.46% and a return on equity of 9.28%. The business had revenue of $28.23 million for the quarter, compared to analysts’ expectations of $28.92 million. Sell-side analysts predict that Colony Bankcorp will post 1.15 earnings per share for the current year.
Colony Bankcorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 24th. Investors of record on Wednesday, May 10th were issued a dividend of $0.11 per share. The ex-dividend date was Tuesday, May 9th. This represents a $0.44 dividend on an annualized basis and a yield of 4.67%. Colony Bankcorp’s dividend payout ratio (DPR) is 40.37%.
Analysts Set New Price Targets
Separately, StockNews.com initiated coverage on Colony Bankcorp in a research report on Thursday, May 18th. They issued a “hold” rating for the company.
Colony Bankcorp Company Profile
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 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.