Colony Bankcorp (NASDAQ:CBAN) Stock Price Expected to Rise, Hovde Group Analyst Says

Key Points

• Hovde Group has raised its target price for Colony Bankcorp from $19.50 to $21.00, suggesting a potential upside of 26.96% from the current stock price.
• Insiders, including Director Paul E. Joiner III, have recently increased their holdings in Colony Bankcorp, signaling confidence in the company's future performance.
• Institutional investors have been actively buying shares, with Ritholtz Wealth Management increasing its stake by 22.9%, indicating growing interest in Colony Bankcorp among hedge funds.

Colony Bankcorp (NASDAQ:CBAN - Get Free Report) had its price target boosted by Hovde Group from $19.50 to $21.00 in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Hovde Group's price target would indicate a potential upside of 31.09% from the company's previous close.

Colony Bankcorp Stock Performance

Shares of CBAN traded down $0.37 during mid-day trading on Tuesday, hitting $16.02. 62,024 shares of the company's stock were exchanged, compared to its average volume of 66,542. The stock's 50-day simple moving average is $16.33 and its 200-day simple moving average is $16.15. The firm has a market cap of $279.73 million, a price-to-earnings ratio of 11.87 and a beta of 0.62. 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 has a 52 week low of $13.00 and a 52 week high of $18.49.

Insider Transactions at Colony Bankcorp

In other news, Director Paul E. Joiner III acquired 6,150 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were acquired at an average cost of $15.01 per share, with a total value of $92,311.50. Following the completion of the purchase, the director directly owned 6,150 shares of the company's stock, valued at $92,311.50. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 8,650 shares of company stock valued at $133,733 over the last quarter. Company insiders own 6.62% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in Colony Bankcorp by 152.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,032 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 1,226 shares during the last quarter. CWM LLC boosted its position in Colony Bankcorp by 55.6% in the first quarter. CWM LLC now owns 2,102 shares of the financial services provider's stock valued at $34,000 after buying an additional 751 shares in the last quarter. Deutsche Bank AG acquired a new stake in Colony Bankcorp in the fourth quarter valued at approximately $143,000. Wells Fargo & Company MN boosted its position in 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 in the last quarter. Finally, Jump Financial LLC acquired a new stake in Colony Bankcorp in the first quarter valued at approximately $169,000. 50.37% of the stock is owned by institutional investors.

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.