Pacific Ridge Capital Partners LLC Sells 20,492 Shares of Colony Bankcorp, Inc. (NASDAQ:CBAN)

Key Points

• Pacific Ridge Capital Partners LLC has reduced its holdings in Colony Bankcorp by 4.8%, now owning 406,295 shares valued at approximately $6.56 million.
• Colony Bankcorp recently declared a quarterly dividend of $0.115 per share, translating to an annualized yield of 2.9% and a dividend payout ratio of 29.11%.
• Analyst ratings have improved, with Hovde Group raising their target price for Colony Bankcorp’s shares from $19.50 to $21.00 and assigning an "outperform" rating.

Pacific Ridge Capital Partners LLC decreased its position in Colony Bankcorp, Inc. (NASDAQ:CBAN - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 406,295 shares of the financial services provider's stock after selling 20,492 shares during the quarter. Colony Bankcorp makes up approximately 1.7% of Pacific Ridge Capital Partners LLC's portfolio, making the stock its 17th largest position. Pacific Ridge Capital Partners LLC owned about 2.32% of Colony Bankcorp worth $6,562,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CBAN. Tower Research Capital LLC TRC boosted its position in Colony Bankcorp by 152.1% during 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. CWM LLC lifted its holdings 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 in the last quarter. Deutsche Bank AG purchased a new stake in shares of Colony Bankcorp in the fourth quarter worth about $143,000. Wells Fargo & Company MN lifted its position in Colony Bankcorp by 27.9% during the fourth quarter. Wells Fargo & Company MN now owns 9,721 shares of the financial services provider's stock valued at $157,000 after purchasing an additional 2,118 shares during the last quarter. Finally, LPL Financial LLC bought a new stake in Colony Bankcorp during the fourth quarter valued at approximately $322,000. Institutional investors own 50.37% of the company's stock.

Insider Buying and Selling at Colony Bankcorp

In other Colony Bankcorp news, Director Paul E. Joiner III acquired 6,150 shares of the stock in a transaction dated Friday, May 30th. The shares were purchased at an average price of $15.01 per share, for a total transaction 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders have purchased 8,650 shares of company stock valued at $133,733. 6.62% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Colony Bankcorp Stock Down 0.2%

Shares of Colony Bankcorp stock traded down $0.04 during trading on Wednesday, hitting $16.03. The company's stock had a trading volume of 23,673 shares, compared to its average volume of 65,845. Colony Bankcorp, Inc. has a 52 week low of $13.00 and a 52 week high of $18.49. The company has a fifty day simple moving average of $16.38 and a two-hundred day simple moving average of $16.16. The company has a market capitalization of $279.81 million, a PE ratio of 11.89 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 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. This represents a $0.46 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Wednesday, August 6th. Colony Bankcorp's dividend payout ratio is 29.11%.

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.