Colony Bankcorp, Inc. (NASDAQ:CBAN) Sees Large Decline in Short Interest

Colony Bankcorp, Inc. (NASDAQ:CBAN) saw a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 75,400 shares, a drop of 12.4% from the September 15th total of 86,100 shares. Based on an average daily trading volume, of 53,900 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Quadrature Capital Ltd purchased a new position in Colony Bankcorp in the first quarter valued at about $123,000. Rothschild Investment LLC purchased a new position in shares of Colony Bankcorp in the 2nd quarter worth about $139,000. Ritholtz Wealth Management lifted its position in Colony Bankcorp by 8.9% during the second quarter. Ritholtz Wealth Management now owns 26,753 shares of the financial services provider’s stock valued at $328,000 after buying an additional 2,193 shares in the last quarter. Empowered Funds LLC boosted its position in Colony Bankcorp by 7.8% during the 1st quarter. Empowered Funds LLC now owns 31,396 shares of the financial services provider’s stock worth $361,000 after purchasing an additional 2,275 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of Colony Bankcorp by 47.9% in the first quarter. BNP Paribas Financial Markets now owns 36,252 shares of the financial services provider’s stock valued at $417,000 after buying an additional 11,746 shares in the last quarter. Institutional investors and hedge funds own 50.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Colony Bankcorp from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th.

Colony Bankcorp Price Performance

Shares of CBAN stock traded up $0.19 during trading hours on Wednesday, reaching $15.79. The company had a trading volume of 25,705 shares, compared to its average volume of 41,840. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.78 and a current ratio of 0.80. The stock has a fifty day moving average of $14.85 and a 200-day moving average of $13.01. The company has a market capitalization of $277.26 million, a price-to-earnings ratio of 12.63 and a beta of 0.57. Colony Bankcorp has a 12-month low of $9.35 and a 12-month high of $15.96.

Colony Bankcorp (NASDAQ:CBAN) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $42.83 million for the quarter, compared to analyst estimates of $28.97 million. Colony Bankcorp had a return on equity of 9.09% and a net margin of 13.03%. During the same quarter in the previous year, the company earned $0.33 earnings per share. On average, equities analysts anticipate that Colony Bankcorp will post 1.33 earnings per share for the current year.

Colony Bankcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th were given a dividend of $0.112 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 2.84%. Colony Bankcorp’s dividend payout ratio (DPR) is presently 36.00%.

About Colony Bankcorp

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.