Mackenzie Financial Corp Raises Stock Position in 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 boosted its holdings in Colony Bankcorp, Inc. (NASDAQ:CBAN - Free Report) by 175.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 81,469 shares of the financial services provider's stock after buying an additional 51,912 shares during the period. Mackenzie Financial Corp owned 0.47% of Colony Bankcorp worth $1,316,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC increased its stake in Colony Bankcorp by 152.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,032 shares of the financial services provider's stock worth $33,000 after buying an additional 1,226 shares in the last quarter. CWM LLC increased its stake in Colony Bankcorp by 55.6% in the 1st quarter. CWM LLC now owns 2,102 shares of the financial services provider's stock worth $34,000 after buying an additional 751 shares in the last quarter. Deutsche Bank AG purchased a new stake in Colony Bankcorp in the 4th quarter worth $143,000. Wells Fargo & Company MN increased its stake in Colony Bankcorp by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 9,721 shares of the financial services provider's stock worth $157,000 after buying an additional 2,118 shares in the last quarter. Finally, LPL Financial LLC purchased a new stake in Colony Bankcorp in the 4th quarter worth $322,000. Hedge funds and other institutional investors own 50.37% of the company's stock.

Colony Bankcorp Trading Up 1.3%

Shares of Colony Bankcorp stock opened at $16.22 on Tuesday. The firm has a market cap of $283.20 million, a price-to-earnings ratio of 12.01 and a beta of 0.62. The business has a 50-day moving average price of $16.37 and a 200-day moving average price of $16.16. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.90. Colony Bankcorp, Inc. has a twelve month low of $13.00 and a twelve month high of $18.49.

Colony Bankcorp Announces Dividend

The business 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. This represents a $0.46 annualized dividend 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%.

Analyst Ratings Changes

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

Insider Activity

In related news, Director Paul E. Joiner III acquired 6,150 shares of the stock in a transaction dated Friday, May 30th. The stock was acquired at an average cost of $15.01 per share, with a total value of $92,311.50. Following the purchase, the director directly owned 6,150 shares of the company's stock, valued at approximately $92,311.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders purchased 8,650 shares of company stock valued at $133,733. 6.62% of the stock is owned by company insiders.

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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