Short Interest in Colony Bankcorp, Inc. (NASDAQ:CBAN) Declines By 21.1%

Colony Bankcorp, Inc. (NASDAQ:CBAN - Get Free Report) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 74,500 shares, a decrease of 21.1% from the October 15th total of 94,400 shares. Based on an average daily trading volume, of 35,200 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analyst Weigh In

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

Colony Bankcorp Stock Down 0.6 %

Shares of CBAN stock traded down $0.11 on Friday, hitting $16.98. 51,801 shares of the stock were exchanged, compared to its average volume of 41,175. The company has a current ratio of 0.81, a quick ratio of 0.78 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $297.66 million, a P/E ratio of 13.58 and a beta of 0.57. Colony Bankcorp has a fifty-two week low of $10.33 and a fifty-two week high of $18.03. The business has a 50-day moving average of $15.56 and a 200 day moving average of $13.79.

Colony Bankcorp (NASDAQ:CBAN - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Colony Bankcorp had a net margin of 12.75% and a return on equity of 8.86%. The business had revenue of $44.69 million during the quarter, compared to analysts' expectations of $28.67 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. Equities analysts anticipate that Colony Bankcorp will post 1.33 EPS for the current year.

Colony Bankcorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th will be issued a dividend of $0.112 per share. The ex-dividend date is Wednesday, November 6th. This represents a $0.45 dividend on an annualized basis and a yield of 2.64%. Colony Bankcorp's payout ratio is 36.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Quadrature Capital Ltd acquired a new position in shares of Colony Bankcorp in the first quarter valued at $123,000. Rothschild Investment LLC acquired a new position in Colony Bankcorp in the 2nd quarter valued at about $139,000. Ritholtz Wealth Management raised its holdings in Colony Bankcorp by 8.9% in the 2nd quarter. Ritholtz Wealth Management now owns 26,753 shares of the financial services provider's stock valued at $328,000 after acquiring an additional 2,193 shares during the period. Empowered Funds LLC lifted its position in Colony Bankcorp by 7.8% during the first quarter. Empowered Funds LLC now owns 31,396 shares of the financial services provider's stock worth $361,000 after acquiring an additional 2,275 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Colony Bankcorp by 47.9% during the first quarter. BNP Paribas Financial Markets now owns 36,252 shares of the financial services provider's stock worth $417,000 after acquiring an additional 11,746 shares during the period. Institutional investors own 50.37% of the company's stock.

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.