Short Interest in Colony Bankcorp, Inc. (NASDAQ:CBAN) Rises By 91.9%

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 target 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 volume of 56,200 shares, the days-to-cover ratio is presently 4.6 days. Approximately1.6% of the company's stock are sold short. Approximately1.6% of the company's stock are sold short. Based on an average daily volume of 56,200 shares, the days-to-cover ratio is presently 4.6 days.

Insider Activity at Colony Bankcorp

In other news, Director Paul E. Joiner III purchased 6,150 shares of the stock in a transaction dated Friday, May 30th. The shares were acquired at an average cost of $15.01 per share, for a total transaction of $92,311.50. Following the acquisition, the director owned 6,150 shares of the company's stock, valued at approximately $92,311.50. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have bought 8,650 shares of company stock valued at $133,733. Insiders own 6.62% of the company's stock.

Hedge Funds Weigh In On Colony Bankcorp

Several hedge funds have recently modified their holdings of the stock. LPL Financial LLC acquired a new stake in shares of Colony Bankcorp during the fourth quarter worth about $322,000. JPMorgan Chase & Co. grew its holdings in Colony Bankcorp by 123.5% during the fourth quarter. JPMorgan Chase & Co. now owns 62,806 shares of the financial services provider's stock worth $1,014,000 after acquiring an additional 34,703 shares during the period. Wells Fargo & Company MN grew its holdings in Colony Bankcorp by 27.9% during the fourth quarter. Wells Fargo & Company MN now owns 9,721 shares of the financial services provider's stock worth $157,000 after acquiring an additional 2,118 shares during the period. Raymond James Financial Inc. acquired a new stake in Colony Bankcorp during the fourth quarter worth about $905,000. Finally, Barclays PLC grew its holdings in Colony Bankcorp by 5.9% during the fourth quarter. Barclays PLC now owns 57,711 shares of the financial services provider's stock worth $932,000 after acquiring an additional 3,227 shares during the period. Institutional investors and hedge funds own 50.37% of the company's stock.

Analyst Upgrades and Downgrades

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

Colony Bankcorp Stock Up 3.6%

Shares of CBAN traded up $0.5950 during mid-day trading on Friday, hitting $17.0050. 45,154 shares of the company traded hands, compared to its average volume of 65,529. Colony Bankcorp has a 1-year low of $13.99 and a 1-year high of $18.49. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $296.92 million, a PE ratio of 12.60 and a beta of 0.66. The business has a 50 day moving average of $16.59 and a 200 day moving average of $16.14.

Colony Bankcorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th were issued a dividend of $0.115 per share. The ex-dividend date was Wednesday, August 6th. This represents a $0.46 annualized dividend and a dividend yield of 2.7%. Colony Bankcorp's dividend payout ratio is 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.