Colony Bankcorp, Inc. (NASDAQ:CBAN) Shares Sold by Pacific Ridge Capital Partners LLC

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 reduced its position in shares of 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. The fund owned 406,295 shares of the financial services provider's stock after selling 20,492 shares during the period. Colony Bankcorp makes up about 1.7% of Pacific Ridge Capital Partners LLC's portfolio, making the stock its 17th biggest holding. Pacific Ridge Capital Partners LLC owned approximately 2.32% of Colony Bankcorp worth $6,562,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in Colony Bankcorp by 152.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,032 shares of the financial services provider's stock worth $33,000 after acquiring an additional 1,226 shares during the last quarter. CWM LLC raised its stake 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 purchasing an additional 751 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Colony Bankcorp in the fourth quarter valued at approximately $143,000. Wells Fargo & Company MN raised 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. Finally, LPL Financial LLC bought a new stake in shares of Colony Bankcorp in the fourth quarter valued at $322,000. 50.37% of the stock is owned by institutional investors and hedge funds.

Colony Bankcorp Stock Down 2.3%

NASDAQ CBAN traded down $0.37 during mid-day trading on Friday, reaching $16.02. The stock had a trading volume of 62,024 shares, compared to its average volume of 66,542. Colony Bankcorp, Inc. has a 1 year low of $13.00 and a 1 year high of $18.49. The stock has a market cap of $279.73 million, a PE ratio of 11.87 and a beta of 0.62. The company has a fifty day moving average price of $16.35 and a 200 day moving average price of $16.16. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.80.

Colony Bankcorp Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, Director Paul E. Joiner III bought 6,150 shares of the firm's stock in a transaction on Friday, May 30th. The stock was acquired at an average cost of $15.01 per share, for a total transaction of $92,311.50. Following the purchase, the director owned 6,150 shares in the company, valued at approximately $92,311.50. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have acquired 8,650 shares of company stock worth $133,733. 6.62% of the stock is currently owned by 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.