Colony Bankcorp, Inc. (NASDAQ:CBAN) Sees Significant Growth in Short Interest

Colony Bankcorp, Inc. (NASDAQ:CBAN) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 94,400 shares, a growth of 25.2% from the September 30th total of 75,400 shares. Based on an average daily trading volume, of 46,100 shares, the days-to-cover ratio is presently 2.0 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CBAN. Vanguard Group Inc. raised its position in shares of Colony Bankcorp by 0.8% during the first quarter. Vanguard Group Inc. now owns 918,020 shares of the financial services provider’s stock valued at $10,557,000 after buying an additional 6,891 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Colony Bankcorp by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 508,394 shares of the financial services provider’s stock valued at $6,228,000 after acquiring an additional 38,457 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Colony Bankcorp by 3.6% in the 2nd quarter. Renaissance Technologies LLC now owns 95,078 shares of the financial services provider’s stock worth $1,165,000 after purchasing an additional 3,300 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Colony Bankcorp by 15.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 58,044 shares of the financial services provider’s stock worth $711,000 after purchasing an additional 7,726 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its holdings in shares of Colony Bankcorp by 8.9% during the 1st quarter. Hillsdale Investment Management Inc. now owns 56,057 shares of the financial services provider’s stock valued at $645,000 after purchasing an additional 4,600 shares during the last quarter. 50.37% of the stock is owned by hedge funds and other institutional investors.

Colony Bankcorp Price Performance

Shares of CBAN traded up $0.18 during mid-day trading on Tuesday, reaching $15.09. The stock had a trading volume of 22,126 shares, compared to its average volume of 41,142. The firm has a market cap of $264.97 million, a price-to-earnings ratio of 12.07 and a beta of 0.57. Colony Bankcorp has a 12 month low of $9.61 and a 12 month high of $16.06. The business has a fifty day moving average of $15.12 and a 200 day moving average of $13.31. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.78 and a current ratio of 0.80.

Colony Bankcorp (NASDAQ:CBAN) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $44.69 million during the quarter, compared to the consensus estimate of $28.67 million. Colony Bankcorp had a net margin of 13.03% and a return on equity of 9.09%. During the same quarter in the prior year, the firm posted $0.34 EPS. Equities analysts predict that Colony Bankcorp will post 1.33 EPS for the current year.

Colony Bankcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th will be paid a dividend of $0.112 per share. This represents a $0.45 annualized dividend and a yield of 2.97%. The ex-dividend date is Wednesday, November 6th. Colony Bankcorp’s dividend payout ratio (DPR) is presently 36.00%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Colony Bankcorp from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th.

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.