Colony Bankcorp (NASDAQ:CBAN) Stock Passes Below 200 Day Moving Average - Here's Why

Colony Bankcorp, Inc. (NASDAQ:CBAN - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $16.04 and traded as low as $15.00. Colony Bankcorp shares last traded at $15.27, with a volume of 37,232 shares changing hands.

Colony Bankcorp Price Performance

The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a market capitalization of $272.98 million, a price-to-earnings ratio of 11.59 and a beta of 0.60. The business's 50 day simple moving average is $15.44 and its 200-day simple moving average is $15.98.

Colony Bankcorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th were given a dividend of $0.115 per share. The ex-dividend date was Wednesday, May 7th. This represents a $0.46 annualized dividend and a dividend yield of 2.94%. Colony Bankcorp's dividend payout ratio is presently 32.17%.

Insider Buying and Selling

In related news, Director Paul E. Joiner III acquired 6,150 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were acquired at an average price of $15.01 per share, for a total transaction of $92,311.50. Following the completion of the purchase, the director now directly owns 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 SEC, which is available through the SEC website. Corporate insiders own 6.62% of the company's stock.

Hedge Funds Weigh In On Colony Bankcorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Colony Bankcorp by 3.5% in the fourth quarter. Bank of New York Mellon Corp now owns 47,185 shares of the financial services provider's stock valued at $762,000 after buying an additional 1,608 shares during the period. Bailard Inc. bought a new stake in Colony Bankcorp in the fourth quarter worth about $266,000. Raymond James Financial Inc. acquired a new stake in Colony Bankcorp in the 4th quarter valued at about $905,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Colony Bankcorp by 25.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 46,772 shares of the financial services provider's stock valued at $755,000 after purchasing an additional 9,487 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Colony Bankcorp by 4.6% in the 4th quarter. American Century Companies Inc. now owns 97,428 shares of the financial services provider's stock worth $1,572,000 after purchasing an additional 4,306 shares during the last quarter. 50.37% of the stock is owned by institutional investors.

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.