Mackenzie Financial Corp Buys 51,912 Shares of Colony Bankcorp, Inc. (NASDAQ:CBAN)

Key Points

• Mackenzie Financial Corp increased its stake in Colony Bankcorp by 175.6%, owning 81,469 shares valued at approximately $1.32 million after acquiring an additional 51,912 shares in the first quarter.
• Colony Bankcorp recently announced a quarterly dividend of $0.115, yielding 2.8%, to be paid to stockholders on August 20th, with a payout ratio of 29.11%.
• Hovde Group raised their price target on Colony Bankcorp from $19.50 to $21.00, maintaining an "outperform" rating for the stock.

Mackenzie Financial Corp grew its holdings in Colony Bankcorp, Inc. (NASDAQ:CBAN - Free Report) by 175.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 81,469 shares of the financial services provider's stock after purchasing an additional 51,912 shares during the quarter. Mackenzie Financial Corp owned about 0.47% of Colony Bankcorp worth $1,316,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CBAN. American Century Companies Inc. increased its position in Colony Bankcorp by 4.6% during the fourth quarter. American Century Companies Inc. now owns 97,428 shares of the financial services provider's stock worth $1,572,000 after acquiring an additional 4,306 shares during the period. LPL Financial LLC acquired a new stake in Colony Bankcorp in the 4th quarter worth $322,000. JPMorgan Chase & Co. increased its holdings in shares of Colony Bankcorp by 123.5% during the 4th quarter. JPMorgan Chase & Co. now owns 62,806 shares of the financial services provider's stock worth $1,014,000 after purchasing an additional 34,703 shares during the period. Trexquant Investment LP raised its position in shares of Colony Bankcorp by 4.1% during the fourth quarter. Trexquant Investment LP now owns 69,067 shares of the financial services provider's stock valued at $1,115,000 after buying an additional 2,703 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Colony Bankcorp by 27.9% in the fourth quarter. Wells Fargo & Company MN now owns 9,721 shares of the financial services provider's stock valued at $157,000 after buying an additional 2,118 shares during the period. 50.37% of the stock is currently owned by institutional investors.

Insider Activity

In other Colony Bankcorp news, Director Paul E. Joiner III acquired 6,150 shares of Colony Bankcorp stock in a transaction dated Friday, May 30th. The stock was bought at an average cost of $15.01 per share, with a total value of $92,311.50. Following the acquisition, the director owned 6,150 shares of the company's stock, valued at approximately $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 the SEC website. In the last ninety days, insiders have acquired 8,650 shares of company stock valued at $133,733. Corporate insiders own 6.62% of the company's stock.

Colony Bankcorp Stock Performance

Shares of NASDAQ:CBAN traded up $0.19 during trading on Friday, hitting $16.11. 10,996 shares of the stock were exchanged, compared to its average volume of 65,390. The company has a market capitalization of $281.30 million, a price-to-earnings ratio of 11.86 and a beta of 0.66. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.80 and a current ratio of 0.81. Colony Bankcorp, Inc. has a 1-year low of $13.00 and a 1-year high of $18.49. The company's fifty day simple moving average is $16.42 and its 200-day simple moving average is $16.16.

Colony Bankcorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th will be paid a $0.115 dividend. The ex-dividend date is Wednesday, August 6th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.9%. Colony Bankcorp's dividend payout ratio is currently 29.11%.

Wall Street Analyst Weigh In

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

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.