Colony Bankcorp, Inc. (NASDAQ:CBAN – Get Rating) experienced a significant increase in short-term interest in the month of February. As of February 15, there was short interest totaling 12,100 shares, an increase of 168.9% from the total of 4,500 shares as of January 31. Based on an average daily trading volume of 17,000 shares, the day-to-cover ratio is currently 0.7 days.
In other news, CEO T Heath Fountain bought 4,000 shares of the company in a deal on Tuesday, February 8. The shares were acquired at an average cost of $16.50 per share, with a total value of $66,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, Vice Chairman Brian D. Schmitt purchased 5,000 shares of the company in a transaction on Tuesday, February 8. The shares were purchased at an average cost of $16.50 per share, for a total transaction of $82,500.00. Disclosure of this purchase can be found here. Over the past three months, insiders have purchased 18,560 shares of the company worth $306,359. 10.31% of the shares are currently held by company insiders.
Institutional investors and hedge funds have recently increased or reduced their stakes in the company. O Shaughnessy Asset Management LLC bought a new position in Colony Bankcorp in the third quarter worth $49,000. Royal Bank of Canada increased its stake in Colony Bankcorp by 283.4% in the second quarter. Royal Bank of Canada now owns 2,699 shares of the financial services provider valued at $48,000 after buying an additional 1,995 shares last quarter. Rothschild Investment Corp IL purchased a new equity stake in Colony Bankcorp during the third quarter worth approximately $211,000. Morgan Stanley increased its stake in shares of Colony Bankcorp by 10.0% during the third quarter. Morgan Stanley now owns 15,604 shares of the financial services provider worth $291,000 after buying an additional 1,420 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new equity stake in Colony Bankcorp during the fourth quarter at a value of approximately $318,000. 37.04% of the shares are held by institutional investors.
The NASDAQ CBAN opened at $18.44 on Thursday. The company has a market capitalization of $324.34 million, a P/E ratio of 10.91 and a beta of 0.49. The company’s fifty-day simple moving average is $17.71. Colony Bankcorp has a 1-year low of $13.86 and a 1-year high of $19.59. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt ratio of 0.41.
Colony Bankcorp (NASDAQ:CBAN – Get Rating) last reported results on Thursday, January 20. The financial services provider reported earnings per share (EPS) of $0.40 for the quarter, missing analyst consensus estimates of $0.48 per ($0.08). The company posted revenue of $29.84 million for the quarter, versus analyst estimates of $29.12 million. Colony Bankcorp had a net margin of 17.40% and a return on equity of 13.14%. As a group, stock analysts predict Colony Bankcorp will post 1.86 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 18. Shareholders of record on Friday, February 4 received a dividend of $0.108. This is a boost from Colony Bankcorp’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, February 3. This represents a dividend of $0.43 on an annualized basis and a yield of 2.34%. Colony Bankcorp’s payout ratio is currently 25.44%.
Several equity research analysts have recently commented on CBAN shares. StockNews.com began covering Colony Bankcorp shares in a research note on Wednesday. They set a “hold” rating for the company. Zacks Investment Research downgraded shares of Colony Bankcorp from a “buy” rating to a “hold” rating in a research report on Monday, Dec. 27. Finally, DA Davidson began covering Colony Bankcorp stocks in a research report on Wednesday, January 12. They set a “buy” rating and a target price of $21.00 for the company.
Colony Bankcorp Company Profile (Get a rating)
Colony Bankcorp, Inc. is a bank holding company, which performs shareholder and investor relations functions through its subsidiary, Colony Bank. It operates through the following segments: Banking Division, Mortgage Division and Small Business Specialty Lending Division. The banking division segment offers comprehensive financial services, including commercial loans, consumer loans and deposit accounts.
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