Banc Funds Co. LLC Reduces Position in Colony Bankcorp, Inc. (NASDAQ:CBAN)

Banc Funds Co. LLC decreased its holdings in shares of Colony Bankcorp, Inc. (NASDAQ:CBAN - Free Report) by 6.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 983,813 shares of the financial services provider's stock after selling 71,579 shares during the quarter. Colony Bankcorp comprises about 1.7% of Banc Funds Co. LLC's investment portfolio, making the stock its 19th biggest position. Banc Funds Co. LLC owned about 5.61% of Colony Bankcorp worth $15,269,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. De Lisle Partners LLP raised its position in shares of Colony Bankcorp by 105.8% in the 3rd quarter. De Lisle Partners LLP now owns 68,087 shares of the financial services provider's stock worth $1,058,000 after buying an additional 35,000 shares during the period. Dimensional Fund Advisors LP raised its position in shares of 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 worth $6,228,000 after buying an additional 38,457 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Colony Bankcorp by 116.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,285 shares of the financial services provider's stock worth $579,000 after buying an additional 20,031 shares during the period. Rothschild Investment LLC purchased a new position in Colony Bankcorp in the second quarter valued at about $139,000. Finally, Bank of New York Mellon Corp raised its position in Colony Bankcorp by 15.4% in the second quarter. Bank of New York Mellon Corp now owns 58,044 shares of the financial services provider's stock valued at $711,000 after purchasing an additional 7,726 shares during the period. Institutional investors and hedge funds own 50.37% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com raised Colony Bankcorp from a "hold" rating to a "buy" rating in a research report on Thursday.

Colony Bankcorp Stock Up 1.1 %

NASDAQ:CBAN traded up $0.20 during mid-day trading on Monday, hitting $17.83. The company had a trading volume of 22,780 shares, compared to its average volume of 41,092. The business has a fifty day simple moving average of $15.98 and a 200-day simple moving average of $14.25. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.90. Colony Bankcorp, Inc. has a 1 year low of $10.33 and a 1 year high of $18.49. The firm has a market capitalization of $312.56 million, a price-to-earnings ratio of 14.10 and a beta of 0.57.

Colony Bankcorp (NASDAQ:CBAN - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. Colony Bankcorp had a return on equity of 8.86% and a net margin of 12.75%. The company had revenue of $44.69 million for the quarter, compared to analyst estimates of $28.67 million. During the same period last year, the company posted $0.34 earnings per share. Equities analysts forecast that Colony Bankcorp, Inc. will post 1.38 earnings per share for the current fiscal year.

Colony Bankcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th were given a dividend of $0.112 per share. This represents a $0.45 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Wednesday, November 6th. Colony Bankcorp's payout ratio is 36.00%.

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.