Raymond James Financial Inc. Takes $905,000 Position in Colony Bankcorp, Inc. (NASDAQ:CBAN)

Raymond James Financial Inc. acquired a new stake in shares of Colony Bankcorp, Inc. (NASDAQ:CBAN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 56,094 shares of the financial services provider's stock, valued at approximately $905,000. Raymond James Financial Inc. owned about 0.32% of Colony Bankcorp as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in Colony Bankcorp by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 46,458 shares of the financial services provider's stock valued at $721,000 after acquiring an additional 1,500 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Colony Bankcorp by 3.5% in the fourth quarter. Bank of New York Mellon Corp now owns 47,185 shares of the financial services provider's stock valued at $762,000 after purchasing an additional 1,608 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Colony Bankcorp by 4.9% in the fourth quarter. Empowered Funds LLC now owns 37,233 shares of the financial services provider's stock valued at $601,000 after purchasing an additional 1,755 shares in the last quarter. SG Americas Securities LLC bought a new position in Colony Bankcorp in the fourth quarter worth $113,000. Finally, Geode Capital Management LLC lifted its position in Colony Bankcorp by 2.2% in the third quarter. Geode Capital Management LLC now owns 363,547 shares of the financial services provider's stock worth $5,643,000 after purchasing an additional 7,740 shares during the period. Institutional investors own 50.37% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Colony Bankcorp from a "hold" rating to a "buy" rating in a research note on Thursday, January 9th.

Colony Bankcorp Price Performance

NASDAQ:CBAN traded up $0.55 during mid-day trading on Wednesday, hitting $15.20. The company's stock had a trading volume of 71,658 shares, compared to its average volume of 50,983. The company has a market capitalization of $266.29 million, a price-to-earnings ratio of 11.26 and a beta of 0.55. 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 fifty-two week low of $10.33 and a fifty-two week high of $18.49. The stock has a fifty day moving average of $16.39 and a 200-day moving average of $16.27.

Colony Bankcorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 5th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Wednesday, February 5th. This is an increase from Colony Bankcorp's previous quarterly dividend of $0.11. Colony Bankcorp's dividend payout ratio (DPR) is 34.07%.

Colony Bankcorp 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.