Colony Bankcorp, Inc. (NASDAQ:CBAN) Short Interest Update

Key Points

• Colony Bankcorp's short interest surged by 91.9% in July, increasing from 134,200 shares to a total of 257,500 shares, indicating greater investor pessimism towards the stock.
• The company announced a quarterly dividend of $0.115, representing an annualized yield of 2.8%, with an ex-dividend date set for August 6th.
• Several institutional investors have increased their positions in Colony Bankcorp, with BNP Paribas Financial Markets raising its stake by 38.4% in the second quarter.

Colony Bankcorp, Inc. (NASDAQ:CBAN - Get Free Report) was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totaling 257,500 shares, anincreaseof91.9% from the July 15th total of 134,200 shares. Based on an average daily trading volume, of 56,200 shares, the days-to-cover ratio is presently 4.6 days. Currently,1.6% of the shares of the company are short sold. Currently,1.6% of the shares of the company are short sold. Based on an average daily trading volume, of 56,200 shares, the days-to-cover ratio is presently 4.6 days.

Insider Activity at Colony Bankcorp

In related news, Director Paul E. Joiner III purchased 6,150 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was bought at an average price of $15.01 per share, for a total transaction of $92,311.50. Following the purchase, the director directly owned 6,150 shares in the company, valued at approximately $92,311.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have purchased 8,650 shares of company stock worth $133,733. 6.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On Colony Bankcorp

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its position in shares of Colony Bankcorp by 152.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,032 shares of the financial services provider's stock worth $33,000 after acquiring an additional 1,226 shares in the last quarter. CWM LLC lifted its position in shares of Colony Bankcorp by 55.6% during the first quarter. CWM LLC now owns 2,102 shares of the financial services provider's stock worth $34,000 after acquiring an additional 751 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Colony Bankcorp by 38.4% during the second quarter. BNP Paribas Financial Markets now owns 3,491 shares of the financial services provider's stock worth $57,000 after acquiring an additional 969 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Colony Bankcorp by 211.2% during the second quarter. PNC Financial Services Group Inc. now owns 6,681 shares of the financial services provider's stock worth $110,000 after acquiring an additional 4,534 shares in the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of Colony Bankcorp during the fourth quarter worth $143,000. Hedge funds and other institutional investors own 50.37% of the company's stock.

Analyst Ratings Changes

Separately, Hovde Group raised their price target on shares of Colony Bankcorp from $19.50 to $21.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $21.00.

Colony Bankcorp Stock Performance

Shares of NASDAQ:CBAN traded down $0.07 during trading on Wednesday, hitting $16.33. 64,771 shares of the company were exchanged, compared to its average volume of 65,802. The company has a market cap of $285.14 million, a PE ratio of 12.10 and a beta of 0.66. The stock has a 50 day moving average of $16.57 and a 200 day moving average of $16.14. Colony Bankcorp has a 52-week low of $13.99 and a 52-week high of $18.49. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.80.

Colony Bankcorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 6th will be given a dividend of $0.115 per share. The ex-dividend date is Wednesday, August 6th. This represents a $0.46 annualized dividend and a dividend yield of 2.8%. Colony Bankcorp's dividend payout ratio is currently 29.11%.

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.