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

Key Points

• Short interest in Colony Bankcorp surged in June, rising 108.1% to 769,409 shares by June 30. That puts about 3.8% of the float short, with a days-to-cover ratio of 1.5.
• Institutional ownership remains significant, with hedge funds and other investors holding 50.37% of the company. Fourthstone LLC was the largest noted holder after increasing its stake sharply.
• The company’s recent operating and stock metrics were steady: CBAN traded around $20.48, reported Q1 earnings of $0.45 per share in line with estimates, and pays a quarterly dividend of $0.12 per share for a 2.3% yield.

Colony Bankcorp, Inc. (NYSE:CBAN - Get Free Report) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 769,409 shares, a growth of 108.1% from the June 15th total of 369,777 shares. Currently, 3.8% of the shares of the stock are short sold. Based on an average daily volume of 496,866 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Fourthstone LLC lifted its holdings in shares of Colony Bankcorp by 165.9% during the fourth quarter. Fourthstone LLC now owns 1,711,213 shares of the company's stock valued at $30,494,000 after purchasing an additional 1,067,540 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in Colony Bankcorp during the 3rd quarter worth about $3,148,000. Squarepoint Ops LLC purchased a new stake in Colony Bankcorp during the third quarter valued at about $1,016,000. Thomasville National Bank purchased a new stake in Colony Bankcorp during the fourth quarter valued at about $1,015,000. Finally, Allen Mooney & Barnes Investment Advisors LLC acquired a new position in shares of Colony Bankcorp in the fourth quarter worth about $1,006,000. Institutional investors and hedge funds own 50.37% of the company's stock.

Colony Bankcorp Price Performance

CBAN stock traded up $0.09 during trading hours on Wednesday, hitting $20.48. 287,329 shares of the stock traded hands, compared to its average volume of 244,549. The stock has a 50-day simple moving average of $20.10 and a 200 day simple moving average of $19.81. The company has a market cap of $433.46 million, a P/E ratio of 12.80 and a beta of 0.56. Colony Bankcorp has a one year low of $15.80 and a one year high of $21.61. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.68.

Colony Bankcorp (NYSE:CBAN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.45 earnings per share for the quarter, meeting analysts' consensus estimates of $0.45. Colony Bankcorp had a net margin of 14.83% and a return on equity of 10.23%. The company had revenue of $39.90 million during the quarter, compared to the consensus estimate of $42.10 million. Equities analysts forecast that Colony Bankcorp will post 1.91 earnings per share for the current year.

Colony Bankcorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.48 annualized dividend and a yield of 2.3%. Colony Bankcorp's dividend payout ratio is currently 30.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CBAN shares. Wall Street Zen cut shares of Colony Bankcorp from a "buy" rating to a "hold" rating in a research note on Sunday, March 29th. Brean Capital raised shares of Colony Bankcorp from a "neutral" rating to a "buy" rating in a research note on Monday, March 23rd. Weiss Ratings upgraded shares of Colony Bankcorp from a "buy (b)" rating to a "buy (b+)" rating in a report on Friday, May 15th. Zacks Research lowered shares of Colony Bankcorp from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 22nd. Finally, Hovde Group boosted their target price on Colony Bankcorp from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $23.00.

About Colony Bankcorp

Colony Bankcorp, Inc is a bank holding company headquartered in Baxley, Georgia, that operates through its primary subsidiary, The Colony Bank. The company's core focus is on delivering community banking services tailored to individuals, small businesses and agricultural customers throughout Georgia and Florida. Colony Bankcorp's structure supports a full suite of deposit and lending solutions designed to meet the needs of local markets.

The company offers a range of deposit products, including personal and business checking accounts, savings and money market accounts, and certificates of deposit.

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