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

Key Points

• Colony Bankcorp saw a 40.0% increase in short interest, totaling 360,400 shares as of August 15, with a short-interest ratio of 5.8 days.
• The Hovde Group raised their price target for Colony Bankcorp shares from $19.50 to $21.00, maintaining an "outperform" rating.
• The company recently declared a quarterly dividend of $0.115 per share, with an annualized dividend yield of 2.7%.

Colony Bankcorp, Inc. (NASDAQ:CBAN - Get Free Report) saw a large increase in short interest in August. As of August 15th, there was short interest totaling 360,400 shares, an increase of 40.0% from the July 31st total of 257,500 shares. Based on an average daily volume of 61,900 shares, the short-interest ratio is currently 5.8 days. Based on an average daily volume of 61,900 shares, the short-interest ratio is currently 5.8 days.

Institutional Trading of Colony Bankcorp

Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in Colony Bankcorp by 4.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 579,078 shares of the financial services provider's stock worth $9,347,000 after purchasing an additional 25,505 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Colony Bankcorp by 152.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,032 shares of the financial services provider's stock worth $33,000 after purchasing an additional 1,226 shares during the period. Jane Street Group LLC boosted its holdings in Colony Bankcorp by 48.6% in the fourth quarter. Jane Street Group LLC now owns 28,246 shares of the financial services provider's stock worth $456,000 after purchasing an additional 9,236 shares during the period. Bank of America Corp DE boosted its holdings in Colony Bankcorp by 10.9% in the fourth quarter. Bank of America Corp DE now owns 27,544 shares of the financial services provider's stock worth $445,000 after purchasing an additional 2,710 shares during the period. Finally, Citadel Advisors LLC boosted its holdings in Colony Bankcorp by 87.7% in the fourth quarter. Citadel Advisors LLC now owns 26,753 shares of the financial services provider's stock worth $432,000 after purchasing an additional 12,497 shares during the period. Institutional investors and hedge funds own 50.37% of the company's stock.

Colony Bankcorp Stock Down 0.6%

NASDAQ:CBAN traded down $0.11 during trading hours on Friday, hitting $17.39. The stock had a trading volume of 50,866 shares, compared to its average volume of 64,154. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.90. Colony Bankcorp has a 1-year low of $13.99 and a 1-year high of $18.49. The business has a 50 day simple moving average of $16.92 and a two-hundred day simple moving average of $16.14. The company has a market cap of $303.56 million, a PE ratio of 12.88 and a beta of 0.67.

Colony Bankcorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.6%. Colony Bankcorp's dividend payout ratio (DPR) is presently 29.11%.

Analysts Set New Price Targets

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

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.