Nuveen LLC Purchases Shares of 33,075 Colony Bankcorp, Inc. $CBAN

Key Points

• Nuveen LLC purchased 33,075 shares of Colony Bankcorp, valued at approximately $534,000, representing a new position for the firm in the first quarter.
• The company's dividend yield is currently 2.7%, with a quarterly dividend of $0.115 per share recently paid to stockholders.
• Hovde Group raised their price target on Colony Bankcorp stock from $19.50 to $21.00, indicating an "outperform" rating based on market consensus.

Nuveen LLC purchased a new stake in shares of Colony Bankcorp, Inc. (NASDAQ:CBAN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 33,075 shares of the financial services provider's stock, valued at approximately $534,000. Nuveen LLC owned 0.19% of Colony Bankcorp as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mackenzie Financial Corp boosted its stake in shares of Colony Bankcorp by 175.6% during the 1st quarter. Mackenzie Financial Corp now owns 81,469 shares of the financial services provider's stock worth $1,316,000 after acquiring an additional 51,912 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Colony Bankcorp by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 579,078 shares of the financial services provider's stock worth $9,347,000 after purchasing an additional 25,505 shares during the period. Citadel Advisors LLC lifted its position in Colony Bankcorp by 87.7% during the fourth quarter. Citadel Advisors LLC now owns 26,753 shares of the financial services provider's stock valued at $432,000 after purchasing an additional 12,497 shares in the last quarter. Jane Street Group LLC lifted its position in Colony Bankcorp by 48.6% during the fourth quarter. Jane Street Group LLC now owns 28,246 shares of the financial services provider's stock valued at $456,000 after purchasing an additional 9,236 shares in the last quarter. Finally, Deutsche Bank AG bought a new stake in Colony Bankcorp during the fourth quarter valued at about $143,000. Hedge funds and other institutional investors own 50.37% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group raised their price objective on Colony Bankcorp from $19.50 to $21.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $21.00.

Colony Bankcorp Price Performance

NASDAQ:CBAN traded down $0.02 on Wednesday, reaching $17.01. 45,399 shares of the company's stock traded hands, compared to its average volume of 64,267. The stock has a 50-day simple moving average of $16.92 and a 200-day simple moving average of $16.13. Colony Bankcorp, Inc. has a 12 month low of $13.99 and a 12 month high of $18.49. The firm has a market cap of $296.94 million, a PE ratio of 12.60 and a beta of 0.67. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th were issued a $0.115 dividend. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $0.46 dividend on an annualized basis and a yield of 2.7%. Colony Bankcorp's payout ratio is currently 29.11%.

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.