Colony Bankcorp (NASDAQ:CBAN) Stock Price Crosses Below 200 Day Moving Average - Here's What Happened

Key Points

• Colony Bankcorp shares have traded below their 200-day moving average of $16.16, with the stock currently priced at $16.39.
• The Hovde Group has raised their price target for Colony Bankcorp from $19.50 to $21.00 and assigned an "outperform" rating to the stock.
• Colony Bankcorp announced a quarterly dividend of $0.115 per share, with a dividend yield of 2.8%, scheduled for payment on August 20th.

Colony Bankcorp, Inc. (NASDAQ:CBAN - Get Free Report) shares passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $16.16 and traded as low as $16.01. Colony Bankcorp shares last traded at $16.39, with a volume of 148,089 shares trading hands.

Analyst Ratings Changes

Separately, Hovde Group increased their target price on shares of Colony Bankcorp from $19.50 to $21.00 and gave the company an "outperform" rating in a research report on Tuesday, July 29th.

Colony Bankcorp Stock Performance

The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market capitalization of $286.80 million, a P/E ratio of 12.17 and a beta of 0.66. The company has a 50 day simple moving average of $16.53 and a 200-day simple moving average of $16.16.

Colony Bankcorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, August 6th. Colony Bankcorp's dividend payout ratio (DPR) is presently 29.11%.

Insider Buying and Selling at Colony Bankcorp

In other news, Director Paul E. Joiner III acquired 6,150 shares of the business's stock in a transaction dated Friday, May 30th. The stock was bought at an average cost of $15.01 per share, for a total transaction of $92,311.50. Following the completion of the transaction, the director owned 6,150 shares of the company's stock, valued at $92,311.50. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired 8,650 shares of company stock valued at $133,733 in the last three months. 6.62% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC increased its stake in shares of Colony Bankcorp by 55.6% in the first quarter. CWM LLC now owns 2,102 shares of the financial services provider's stock worth $34,000 after buying an additional 751 shares during the period. Bridgeway Capital Management LLC boosted its stake in shares of Colony Bankcorp by 0.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 144,584 shares of the financial services provider's stock valued at $2,334,000 after purchasing an additional 955 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Colony Bankcorp by 38.4% in the second quarter. BNP Paribas Financial Markets now owns 3,491 shares of the financial services provider's stock worth $57,000 after buying an additional 969 shares during the period. Bank of New York Mellon Corp boosted its position in Colony Bankcorp by 2.4% during the 1st quarter. Bank of New York Mellon Corp now owns 48,332 shares of the financial services provider's stock valued at $781,000 after acquiring an additional 1,147 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake 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. Hedge funds and other institutional investors own 50.37% of the company's stock.

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.