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) was the target of a significant increase in short interest in August. As of August 15th, there was short interest totaling 360,400 shares, anincreaseof40.0% 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.

Analysts Set New Price Targets

Separately, Hovde Group boosted their price objective 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 investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $21.00.

Colony Bankcorp Stock Performance

NASDAQ:CBAN opened at $17.04 on Monday. 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 fifty day simple moving average of $16.91 and a two-hundred day simple moving average of $16.11. The company has a market cap of $297.57 million, a price-to-earnings ratio of 12.62 and a beta of 0.67. Colony Bankcorp has a 52 week low of $13.99 and a 52 week high of $18.49.

Colony Bankcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Wednesday, August 6th. Colony Bankcorp's dividend payout ratio is presently 29.11%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Hillsdale Investment Management Inc. increased its stake in shares of Colony Bankcorp by 29.2% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 280,657 shares of the financial services provider's stock worth $4,622,000 after purchasing an additional 63,400 shares in the last quarter. American Century Companies Inc. grew its stake in Colony Bankcorp by 39.8% in the second quarter. American Century Companies Inc. now owns 218,878 shares of the financial services provider's stock worth $3,605,000 after purchasing an additional 62,322 shares in the last quarter. Mackenzie Financial Corp grew its stake in Colony Bankcorp by 175.6% in the first quarter. Mackenzie Financial Corp now owns 81,469 shares of the financial services provider's stock worth $1,316,000 after purchasing an additional 51,912 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Colony Bankcorp during the 2nd quarter valued at about $589,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Colony Bankcorp by 109.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 68,268 shares of the financial services provider's stock worth $1,124,000 after purchasing an additional 35,714 shares during the last quarter. 50.37% of the stock is currently owned by institutional investors and hedge funds.

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.

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